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The Green Dragon Colony was a group of unique rental cottages that attracted musicians and artists to the seaside community of La Jolla in San Diego, California, between 1895 and 1912. Established by German immigrant Anna Held Heinrich, the colony became a well-known tourist destination in Southern California .
They found that while San Francisco's rent control laws benefited tenants who had rent controlled units, it also resulted in landlords removing 30% of the units in the study from the rental market, (by conversion to condos or TICs) which led to a 15% citywide decrease in total rental units, and a 7% increase in citywide rents.
San Diego has high real estate prices. San Diego home prices peaked in 2005, and then declined along with the national trend. As of December 2010, prices were down 36 percent from the peak, [171] median price of homes having declined by more than $200,000 between 2005 and 2010. [172] As of May 2015, the median price of a house was $520,000. [173]
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California housing costs are among the most unaffordable in the United States. In 2018, the median San Jose home cost 10 times the median household income; Los Angeles homes cost 9.5 times; San Francisco homes cost 8.9 times; San Diego homes cost 8.1 times. [10] California is the most expensive state to rent in, in the United States. [11]
The city's median home price is $910,000, making it the fourth most expensive among the 30 largest cities in the U.S. [62] [63] The average monthly rent in San Diego has risen to $3,175, placing it as the third-highest in the nation, only $7 less than that of San Francisco.
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