Andrew Narwold and Alyson Ma
Purchasing a home is often the single most important investment an individual makes. Aside from the structural characteristics of the home, a potentially more significant factor in the decision-making process is the location as many newly purchased homes are remodeled or expanded prior to the new homeowners moving in. In this paper, in addition to structural characteristics and proximity to amenities such as the ocean and open spaces, we examine distances to colleges, military bases and the U.S./Mexican border in relation to the value of single-family homes in San Diego County over the years 2000-2023. The County of San Diego is unique in its topography as well as economic diversity. Moreover, the City of San Diego ranks eighth among most populous cities in the United States and while home prices are above the national average, the values are less than other California cities such as those in the Bay Area and San Francisco. San Diego also experiences enviable weather conditions year-round. As such, San Diego is ideal for examining the market value of external factors on the price of a home. The findings suggest evidence of a dis-amenity to military bases and the U.S./Mexican port of entry, whereas the results on the distance to colleges are mixed.
