SAN DIEGO (CNS) - A study released Thursday by the San Diego Regional Chamber of Commerce quantified the so-called "San Diego discount," in which area residents generally receiver lower salaries while facing higher costs than peers in similar cities.
Among 10 cities studied by the chamber, San Diego ranked ninth in how far residents can stretch their median income to pay for housing, taxes and other necessities. The area's median income of nearly $51,500 ranked sixth.
The San Diego discount legend says that residents will put up with lower salaries and higher costs in order to enjoy the mild climate, beaches and scenic beauty.
"The measure of a region's affordability goes beyond just housing," said Jerry Sanders, chamber president and CEO.
"It's important to look at the whole picture of how far a person's income will go to support living in a certain area," Sanders said. "San Diego excels in many areas, but this dashboard reveals that overall affordability is an area that's holding back our economic potential."
Raleigh, North Carolina, has a lower average income than San Diego, but because the cost of living there is much lower, that income actually goes 45 percent further than in San Diego, according to the chamber. In San Francisco, where housing and other costs are substantially higher, it is actually more affordable than San Diego because incomes are higher.
The study released today was the second of three "dashboards" the chamber is compiling. The first, released last month, looked at the business and tax climate. The last will examine the local standard of living and is scheduled for release later this month.
Chamber officials plan to incorporate the data into a regional jobs strategy expected to come out in January.
The affordability dashboard showed that, compared with similar cities, local salaries for high-wage positions like management, computer and mathematical, architecture and engineering, and business and financial operations ranked relatively low.
San Diegans also faced the second highest income taxes and third highest property taxes among the study's metropolitan areas, which also included Austin, Boston, Denver, Los Angeles, Portland, San Francisco, San Jose and Seattle.
A wildfire spread over hilly rural terrain east of Ramona Friday afternoon, threatening several back-country homes and destroying one of them before ground and airborne crews could subdue the flames.
A man was shot by Sheriff's Deputies Friday night after leading authorities in a high-speed pursuit that came to an end in Del Mar Heights.
Day two of Comic-Con has come and gone, but tens of thousands of people are still hitting the streets of downtown San Diego – pumping thousands of dollars into the local economy.
For years, Honor Flight San Diego has fulfilled its mission to fly San Diego’s war heroes to Washington D.C. to visit the memorials dedicated to their service.
A 24-year-old woman was shot and killed Friday inside an Oceanside apartment building today and a person of interest was being questioned, according to police.
A 2-year-old girl is in the hospital Friday with serious injuries after she fell from a fourth-floor window at an apartment complex in San Diego's University City neighborhood, police said.
Improving surveillance camera technology is helping homeowners fight back against thieves. The latest cameras are delivering clear and multi-angle images that can lead straight to the suspects.
News 8 Sports Director, Kyle Kraska, spent a few hours with Padres all-time great Trevor Hoffman who is headed to Cooperstown to be inducted into Major League Baseball's Hall of Fame.
Comic-con is famous for its crazy costumes, but sometimes those outrageous outfits fall apart at the worst time.