According to a new 14-page study released, the average household in San Diego will need to make at least $126,400 in order to qualify for a home loan.
A new study titled "Who We Are San Diego County Population" was released pointing out that a household income of $126,400 a year is needed in order to qualify for a home loan in San Diego. Nationwide, the average household income needed to qualify for a home loan is $54,800.
The county of San Diego has about 3.4 million residents, 1.8 million of that are local. 24% of that are millennial-aged, 25-39 years old. At least 39% of San Diegans over the age of 25 have graduated with a bachelor's degree. This means that San Diego is set up to be a major player in the tech industry once they figure out the housing issue.
The city with the most millennials is Austin, Texas, which makes up about 26% of their total population.