The story of this market
The typical home in ZIP 92123 sells for about $975,000, or $647 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 24 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $3,228 a month.
ZIP 92123 — San Diego
The 92123 housing market remains competitive, characterized by low inventory and steady demand from buyers seeking central San Diego access. While prices have seen moderate year-over-year growth, the market is stabilizing as interest rate sensitivity persists. The area's strong employment base and central location continue to drive interest despite the high cost of entry.
This ZIP is well-suited for commuters and families seeking central access to San Diego's employment hubs without the premium price tags of coastal neighborhoods. It appeals to those valuing convenience and established mid-century residential character.
Median prices moved up 3.2% year over year.
Homes spend a median of 24 days on market with 1.8 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 99.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.8% · poverty 7.2% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 92123, San Diego County, CA
Crime rates in the Serra Mesa area are generally considered moderate, with property crime being the primary concern compared to violent crime. The area experiences trends consistent with broader San Diego urban patterns.
Schools serving the area are part of the San Diego Unified School District, with performance ratings varying significantly by specific campus. Many residents have access to well-regarded magnet and charter options within the broader district.
The area is primarily urbanized with low direct wildfire risk, though it remains subject to standard Southern California seismic and occasional drought-related water restrictions. Flood risk is minimal due to the elevated topography of the mesa.
Economic momentum is driven by proximity to major employment hubs like Kearny Mesa and Mission Valley, with ongoing infill development and commercial revitalization. Infrastructure focus remains on maintaining transit connectivity to the San Diego urban core.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (California) — Mello-Roos Community Facilities Act Special Parcel Tax Assessment: Levies an annual direct, non-ad valorem special tax directly on the parcel's secured property tax bill to fund designated community infrastructure (e.g., roads, sewer facilities, school facilities, emergency services) and repay municipal debt bonds. State (California) — California Homeowners' Property Tax Exemption: Reduces the taxable assessed value of the qualifying owner-occupied principal residence by $7,000 against the county assessment roll, generating a direct tax savings of approximately $70 annually (computed as $7,000 × 1% base rate). State (California) — California Proposition 13 Ad Valorem Real Property Tax: Establishes a base ad valorem tax rate capped at 1.0% of assessed value plus voter-approved local indebtedness and direct assessments (typically resulting in an effective tax rate of 1.1% to 1.25%). County (San Diego County, California) — Secured Property Tax Lien: Taxes attach to the property as a lien on January 1st (Lien Date) each year. Failure to pay can result in the sale of the property to satisfy the tax obligation. County (San Diego County, California) — Ad Valorem Property Tax (Proposition 13): The base tax rate is 1% of the assessed value, plus voter-approved debt service rates.
The ZIP offers excellent access to major freeways including I-805, I-15, and SR-163, facilitating a central commute to downtown San Diego, Kearny Mesa, and Sorrento Valley. Public transit is available via bus routes, though the area remains heavily car-dependent.
Residents have access to local community parks and are within a short drive of Mission Trails Regional Park and the shopping/dining hubs of Mission Valley. The area is centrally located, providing quick access to both coastal beaches and inland recreational facilities.
The rental market is characterized by high demand and low vacancy rates, driven by the area's central location and proximity to major employers. Short-term rental activity is regulated by city-wide ordinances.
The economy is anchored by the nearby Kearny Mesa industrial and office corridor, which hosts significant aerospace, defense, and healthcare employers. The area benefits from a diverse mix of professional services and retail trade.
The area is served by a network of major freeways and MTS bus lines, providing connectivity to the broader San Diego transit system. Infrastructure improvements are focused on enhancing bikeability and pedestrian access.
Development is largely focused on infill projects and the modernization of existing commercial sites along the major corridors bordering the ZIP.
The San Diego County Assessor's office manages property valuations, adhering to state-mandated assessment cycles and Proposition 13 limitations.
Parcels are served by the San Diego Unified School District and the San Diego Community College District, with standard municipal utility and fire protection districts.
Property insurance premiums are influenced by regional wildfire risk assessments and the general high-cost environment of the Southern California housing market.
Data retrieved from Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Provides sports fields, playgrounds, and community programming.
Extensive hiking and biking trails located just east of the ZIP.
Major commercial hub featuring diverse dining and retail options.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.
Governs Villa Portofino
Planned unit development covenants requiring architectural review approval prior to exterior alterations, strict common-element parking rules, restrictions on short-term leasing, and pet limitation rules.
Governs La Jolla Colony
Architectural review guidelines governing exterior modifications, restrictions against public nuisances, designated vehicle parking regulations, pet policies, and residential leasing subject to association rules.
Governs Carmel Mountain Ranch
Standard master-planned residential restrictions including mandatory architectural review for modifications, restrictions against commercial business operations visible to the exterior, vehicle parking guidelines, and leasing compliance rules.
90-day research cycle · governing documents remain with their official custodians — the association, its management portal or the county clerk's recording.