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Average Mortgage Payment in San Diego

House Market Solutions California San Diego Average Mortgage Payment in San Diego

average mortgage payment in san diego

As you can imagine, the average mortgage payment in San Diego is considerably higher than the national average. According to data from the Mortgage Bankers Association in January 2017, the average principal and interest payment across the country is $1,494.00.

Based on current housing and interest rates, the average mortgage payment in San Diego for a 30-year fixed loan is around $2,587. However, this number can vary widely from one neighborhood to the next.

If you know much about mortgages, you know that as you pay for your loan, you do not just pay for the cost of your house. So, what goes into a mortgage payment? How is it calculated? Most importantly, what ways can you change your outlays and payment schedules to make sure you save the most money?

California home prices rose in most cities over the last few years. Though mortgage rates have declined slightly through 2017, many analysts expect them to rise in 2018. As a result, the median mortgage payment in San Diego has risen as well.

There is no official source for data relating an average mortgage payment in San Diego, but we can reach an approximate figure by using current housing costs and interest rates.

Using PITI In Calculating Monthly Payments

We will use the standard PITI breakdown to measure the average mortgage payment among San Diego homeowners. PITI is an acronym that describes the four components that make up a standard monthly mortgage payment. PITI stands for principal, interest, taxes, and insurance.


  • Down payments: The National Association of Realtors found that the average down payment among home buyers nationwide was around 11% in 2016. However, in San Diego’s highly competitive housing market, data from ATTOM Data Solutions indicate that the average down payment was 14.8% in Q3 2017.
  • Home Prices: According to CoreLogic, the median home price in San Diego was around $535,000 in August of 2017. We will use this home price figure to calculate average monthly payments.
  • Loan Amount: Based on the median home price and down payment percentage discussed above, we end up with a base loan amount of $455,820; This is the principal amount (the “P” in the PITI acronym) that we will use to calculate the average mortgage payment in San Diego.


Homeowners in the state pay an average of approximately $905 per year in home insurance premiums, typically as part of the monthly mortgage payment (the second “I” in PITI). We will include these in our calculations. Insurance costs will have only a small impact on the final payment amount.


According to Wallethub.com, Californians pay an average of $3,104 per year in property taxes. This amount will vary from one county to the next since the county defines property tax levels. However, that average payment covers the entire state. Using the California property tax calculator at Smartasset.com and applying it to San Diego’s median home price leaves us with an annual tax bill of $4,178. (This is the “T” in PITI).


According to the weekly survey conducted by Freddie Mac, the average interest rate for a 30-year fixed home loan is 3.95% during the first week of January 2018. The 30-year fixed is by far the most popular mortgage option used by home buyers in San Diego. So that is the interest rate we used for our calculation.

Average Mortgage Payment in San Diego

Plugging the numbers from the previous section into a standard PITI mortgage calculator gives us the following results:

  • Monthly Payment (principal and interest only): $2,163
  • Monthly Payment (with taxes and insurance): $2,587
  • Mortgage Amount: $455,820
  • Loan Term: 30 years
  • Interest Rate: 3.95%

Granted, this is a simple calculation that leaves out certain variables for the sake of simplicity. For instance, some borrowers choose to pay discount points up front in exchange for a lower interest rate, which is just one variable that can affect monthly payments.

This example is not meant to be a precise measurement of an average mortgage payment in San Diego, but rather a ballpark figure based on recent housing costs. It also shows how you can estimate your housing costs, using the variables used above.

If you are interested in buying or selling a home in the Greater San Diego area, we are here to help. At House Market Solutions, it is our mission to always go above and beyond by creating win-win situations for all our clients. Contact us to learn how we can help you.

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