Considered the birthplace of California, San Diego is the economic hub of the region and boasts thriving military, tourism, trade and manufacturing sectors. At the end of 2016, the unemployment rate fell at a post-recession low of 4.2 percent.
Commercial investment in the area is thriving, with a high demand for restaurant space and multi-family housing. According to a report from Coldwell Banker Commercial released in April, multi-family vacancy rates have decreased to below 3 percent and a mere 3,000 units will become available this year, despite the 8,000 units currently under construction.
