Condo payment vs rent
Median condo and townhome prices over the last 90 days, with 10% down at 7.32%. The monthly figure is principal, interest and property tax at the 1% base rate. It leaves out HOA dues, insurance, mortgage insurance and voter-approved bonds, so the real number is higher.[2][3][4]
| Neighborhood | Median condo price | 10% down | Monthly (before HOA) |
|---|---|---|---|
| San Carlos | $465K | $46,500 | $3,300 |
| La Mesa | $515K | $51,500 | $3,600 |
| North Park | $523K | $52,300 | $3,700 |
| Escondido | $547K | $54,700 | $3,800 |
| Chula Vista (west) | $560K | $56,000 | $3,900 |
| Santee | $577K | $57,700 | $4,000 |
| Spring Valley | $595K | $59,500 | $4,200 |
| Clairemont & Serra Mesa | $611K | $61,100 | $4,300 |
| Mira Mesa | $645K | $64,500 | $4,500 |
| Eastlake & Otay Ranch | $657K | $65,700 | $4,600 |
| Mission Hills & Hillcrest | $680K | $68,000 | $4,800 |
| Oceanside | $725K | $72,500 | $5,100 |
| Point Loma & Ocean Beach | $920K | $92,000 | $6,500 |
For comparison, HUD's Fair Market Rents are $2,335 for a 1-bedroom, $2,823 for a 2-bedroom and $3,743 for a 3-bedroom.[1]
When buying wins
- You'll stay 5 years or more, so buying and selling costs have time to pay off.
- You want a payment that doesn't go up every lease renewal. Your principal and interest is fixed on a 30-year fixed loan.
- You have savings left after the down payment and closing costs.
When renting wins
- You might move for work in the next couple of years.
- Buying would empty your savings.
- You're still learning the neighborhoods. Renting first is a cheap way to find the one you want.
Related questions
How much is rent in San Diego?
HUD's FY2027 Fair Market Rent is $2,335 for a 1-bedroom and $2,823 for a 2-bedroom.
Is buying a condo in San Diego a good idea?
It can be the cheapest way to own in a neighborhood you couldn't afford a house in. Read the HOA's budget, reserves and insurance first: josiahgarciarealtor.com/answers/is-buying-a-condo-in-san-diego-a-good-idea/
How much do I need to buy in San Diego?
Down payment and monthly cost by neighborhood: josiahgarciarealtor.com/answers/how-much-money-do-i-need-to-buy-a-house-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
- HUD Fair Market Rents, FY2027
- Redfin closed sales and active listings, last 90 days
- Freddie Mac Primary Mortgage Market Survey
- San Diego County Auditor: property tax FAQ
Payment math is an estimate, not a loan offer. Talk to a lender for your actual numbers. Josiah Garcia | Real Broker | DRE #02128093.