Coronado real estate is sought after by those who relish a peaceful, serene, and tranquil life. Homebuyers can choose between various housing options, including beach houses, single-family homes, townhomes, and condominiums.
Residents can also visit several attractions in the surrounding area, including Silver Strand State Beach and the historic Hotel del Coronado. Coronado also has an elegant clubhouse at the Coronado Municipal Golf Course, a popular gathering spot for residents. The following analysis explains the living expenses you can expect to face if you purchase a home in this lovely community.
Housing costs in Coronado
Housing is the most significant expense in most households, and Coronado real estate holds to that axiom. Home prices here start in the low seven figures, much higher than California’s average. For a 1,800-square-foot home like this one, you can expect to pay about $1.7 million. That works out to about $930 per square foot.
The high home prices in Coronado mainly result from the fact that many homes are located on a waterfront area with high demand among homeowners. The high cost of housing can also be attributed to the luxurious designs of the houses, the community's exclusivity, and the stunning ocean views. In addition, Coronado is a relatively small community with a limited supply of homes. This increases the demand among potential buyers, which drives up the home values in the community.
Food and grocery costs in Coronado
Residents here have access to high-end grocery stores, fine restaurants, and exquisite eateries. Most of these establishments are on the pricier side, forcing residents to shell out extra cash while on their grocery shopping trips or grabbing a bite at a local restaurant.
A family of four can spend around $1,429 per month on food, while a single person can spend around $549 per month. When dining out, you can expect to pay about $20 for a solo lunch, about $75 for dinner for two, and $8 or so for a beer. During the holidays, such as Thanksgiving and Christmas, residents will experience higher food costs because of the increase in demand. Establishments located in more upscale areas may have higher prices due to the demographics and the increased cost of doing business in the area.
Transportation and parking expenses in Coronado
However, many locals find parts of Coronado highly walkable. The Village has a 93 walk score, for example. Once you arrive at The Village, whether by car or bike, you’ll find most attractions and necessities are an enjoyable stroll away. And if you live in Coronado Cays, you can easily walk to Silver Strand Beach or go boating from your private slip.
Electricity costs and other utilities
Utility costs in Coronado are 13% higher than the national average. Larger homes generally require more energy to maintain a comfortable living environment, which can lead to higher utility costs. Generally, most of the homes in Coronado are luxurious and have more amenities, such as heated pools and hot tubs, which can increase water and electricity usage, therefore adding to the overall cost of utilities.
The average salary in Coronado
Coronado has a small population of over 20,000 residents and abundant employment opportunities. The main industries in this area include technology, retail, tourism, construction, and real estate. This community is only six miles from San Diego, where residents can find additional employment opportunities.