New report shows why San Diego is costing more and more to live in

SAN DIEGO (NBC, KYMA) - A new report is showing why an already expensive San Diego is costing more and more to live in.

Housing advocates say there's just not enough housing available, especially for working families.

"Housing is very expensive in San Diego," said Alan Gin, economic professor with the Knauss School of Business from the University of San Diego.

San Diego is among the most expensive cities in the country to either rent or buy a home, according to Gin.

A recent report from the San Diego Housing Federation and the California Housing Partnership shows evidence of that.

"San Diegans need to make about three times the minimum wage to afford rent," said Danielle Mazella with the California Housing Partnership.

According to the latest "Affordable Housing Needs Report," tripling the minimum wage means you'd need to earn a little more than $50 an hour just to be able to afford the average two-bedroom apartment here in San Diego.

Stephen Russell, President and CEO of the San Diego Housing Federation, says the data from the report indicates San Diego may have hit the bottom depth of the affordable housing crisis, but it still has long ways to go.

He says the data reveals there's a mismatch between the housing available and the wages of those who need a roof over their head.

Russell says bringing up wages and building enough affordable housing could contribute to the solution, adding that wage increases do not impact people on fixed incomes like seniors.

"We need to make sure that we're continuing to provide apartments that are subsidized and provide decent living environments for them as well," Russell explained.

Professor Gin says San Diegans who spend more on housing often have very little left to cover other essentials like food or childcare.

"Now if you combine that with gas prices, that's put a lot of stress then on San Diego households so the price of gas gone up considerably and the price of other products may go up as that increase in gas prices translates into higher shipping costs," Gin expressed.

An April report from Zumper bumped San Diego down to 12th as the priciest rental market, but housing advocates say affordable housing is a challenge that still persists and must be addressed.