The City of San Diego is known as one of the top tourist destinations in the world with its excellent attractions, sandy beaches and lovely weather. However, it’s not just a great tourist destination, but it’s an excellent place to live with many options available for those who want a rent to own apartment or home. The 8th largest city within the United States, it boasts a population of over 1,300,000. Located right on the Pacific Ocean Coast in Southern California, it’s easy to see why rent to own homes in San Diego are in high demand.
When considering rent to own homes in San Diego, the economy in the area is of utmost importance. The economy of the city is in a period of transformation. While it has long been an economy based on defense and military spending, it is beginning to change into an economy that is based upon high-tech companies that are working on an international level.
Even though the economy across the nation has been bleak, San Diego has continued to see increases in employment, exports, gross regional product and per capita income. When it comes to employment, opportunities are readily available within the city. In fact, studies show that this city is one of the top 10 cities within the US for job growth in the next 10-15 years. The economic base for the area includes tourism, military, manufacturing and international trade.
Sunny All Year Long
Many people choose to relocate to San Diego because the city offers an excellent quality of life. The climate is wonderful, being described as “perfect weather” by Holiday Magazine, the United States Weather Bureau and the Pleasant Weather Rating Service Poll. The weather is usually sunny and warm, all year long; another reason for choosing rent to own homes in San Diego.
San Diego: A Great Place To Live
Among large cities, San Diego is also one of the safest. Within the state of California, the FBI has named it the sixth safest city. In fact, the crime rate has been decreasing within the past few years. When it comes to housing, opportunities are available on the market for individuals and families of every income level and size, from rent to own apartment options to luxury oceanfront homes.
For families considering rent to own homes in San Diego, education is an important consideration. Education has been made a priority within the area and recent legislation has led to class sizes being reduced, averaging less than 20 students per teacher. Smaller class sizes have been achieved by hiring new teachers and the construction of new schools. Not only are excellent public schools available in the area, but many private schools can be found in the city too.
Those looking for a higher education will find excellent colleges and universities available, with eight community colleges available, various private institutions of higher learning, and several excellent universities to choose from in the San Diego area. The University of California at San Diego is considered one of the best bio-tech school in the nation.
Before the real estate bubble burst in 2006, San Diego had seen a huge growth in real estate prices, with prices more than tripling within just a few years. However, prices started plunging down after the home prices peaked in 2005, along with prices throughout the rest of the nation. Within the past few years, median home prices have dropped drastically and sales have dropped but more than 50% as well.
While this change in the real estate market may be difficult for those trying to sell in the area, it is currently offering an excellent buyer’s market for those interest in buying homes or those looking for rent to own homes in San Diego. With all the benefits offered in the local area, dropping home prices may begin drawing more people to the area once again to enjoy the beautiful weather and growing economy.