Condo vs house prices
| Neighborhood | Median house | Median condo/townhome | Condo discount |
|---|---|---|---|
| San Carlos | $1.16M | $465K | 60% |
| La Mesa | $935K | $515K | 45% |
| North Park | $1.22M | $523K | 57% |
| Escondido | $1.01M | $547K | 46% |
| Chula Vista (west) | $842K | $560K | 34% |
| Santee | $850K | $577K | 32% |
| Spring Valley | $814K | $595K | 27% |
| Clairemont & Serra Mesa | $1.08M | $611K | 43% |
| Mira Mesa | $1.06M | $645K | 39% |
| Eastlake & Otay Ranch | $1.09M | $657K | 39% |
| Mission Hills & Hillcrest | $1.58M | $680K | 57% |
| Oceanside | $950K | $725K | 24% |
| Point Loma & Ocean Beach | $1.83M | $920K | 50% |
What to check in the HOA documents
- Reserves. A thin reserve fund means a special assessment is more likely when the roof or plumbing goes.
- Balcony inspections. California Civil Code 5551 requires condo buildings with three or more units to have balconies, decks and other elevated elements inspected by January 1, 2025, and at least every nine years after that.[2] Ask whether it's done and what repairs it found.
- Insurance. Some HOAs have struggled to get a master policy. In 2025 the state raised the FAIR Plan's commercial coverage limit to $20 million per building, partly to help HOAs left without coverage.[3] Ask who insures the building and what the deductible is.
- Rental and pet rules, and any pending lawsuits. These show up in the documents you get during escrow.
Related questions
Is buying a condo dumb?
No, but buying one without reading the HOA documents can be. The price gap to a house is real money; the HOA's health decides whether it stays a good deal.
What is SB 326?
It's the law behind Civil Code 5551. It requires condo HOAs with three or more units to inspect balconies, decks and other elevated elements every nine years, with the first round due by January 1, 2025.
What happens if an HOA loses its insurance?
The HOA has to find replacement coverage, sometimes through the California FAIR Plan, often at a higher cost that shows up in dues. Ask your lender about the building's insurance early in escrow.
Are condos cheaper than renting in San Diego?
Usually not month to month once HOA dues are added. See the comparison: josiahgarciarealtor.com/answers/is-it-better-to-buy-or-rent-in-san-diego/
Related answers, guides and reports
Still have a question?
Text me at (559) 977-2596. I answer every one myself, no pressure and no sales pitch.
Sources
- Redfin closed sales and active listings, last 90 days
- City of Berkeley: Civil Code 5551 condo balcony inspections
- California Department of Insurance: FAIR Plan commercial limits (March 2025)
Payment math is an estimate, not a loan offer. Talk to a lender for your actual numbers. Josiah Garcia | Real Broker | DRE #02128093.