In the American real estate economy, employment levels are intrinsically tied to the health of housing markets. Homebuyers and renters tend to go where the jobs are, which explains why urban centers have experienced greater growth in recent years. The San Diego metropolitan area is a perfect example of this trend. America’s Finest City is one of the top five cities—alongside Boston, San Jose, San Francisco, and Seattle—with the highest rates of job growth in the technology sector.
If you’ve been browsing real estate listings for condos and lofts in downtown San Diego, the local job market offers various opportunities for a short commute. A few of the largest employers in the area have offices or operations in the downtown districts, thus allowing employees to walk, ride bikes, take public transportation, or drive a few minutes to work. Here are a few more aspects of the local job market.
The City of San Diego employs more than 10,000 people, and many of their offices are located near the City Hall complex, which is in the heart of the Core-Columbia district. A few blocks south, you’ll find the Edward J. Schwartz Federal Building complex, where dozens of job vacancies can be found on a daily basis. The U.S. Navy and Marine Corps have decreased their presence in downtown San Diego, but there are still some credit unions and health clinics that work with the Balboa Naval Medical Center.
Even though San Diego’s largest healthcare employers, Kaiser Permanente and the UCSD medical centers, are located outside the downtown area, there are quite a few small clinics and dental offices close to the heart of the city. Something else to consider is the abundance of holistic care centers and yoga studios in the downtown districts.
This is one sector that has been expanding very rapidly in downtown San Diego, particularly with regard to startup companies. One thing to keep in mind about tech jobs, however, is the recent San Diego Union-Tribune survey indicating that hiring will slow down in this sector in 2020. Jobs will still be available, but you’re more likely to replace an employee than to fill a new position.
San Diego’s hospitality and tourism industry gets very busy in the summer. The high season here lasts a couple of months longer because of favorable weather conditions. Workers who rely on tips to augment their paychecks will find baseball games and conventions draw big crowds to the downtown area, offering great opportunities to boost their incomes.
The San Diego Unified School District employs more than 16,000 staff members, many of whom are assigned to schools and administrative offices in the downtown districts. There’s also UC San Diego, the largest employer in the metro area, which has offices and clinics just north of the Marina district.
The variety of fantastic places to work is only one reason to consider buying downtown San Diego real estate. If you’re ready to find your dream home in America’s Finest City, call on the experienced agents from 92101 Urban Living. Give us a call today at 619-649-0368.