Reverse mortgages in San Diego
A reverse mortgage works the same in San Diego County as it does anywhere, but the numbers do not. Below is what the data says about San Diego owners, and what that means if you are 62 or older and thinking about staying in your home.
| Measure | San Diego | California | U.S. |
|---|---|---|---|
| Residents 65 and older | 14.6% | 17.5% | 18.9% |
| Owner-occupied homes | 47.3% | 55.9% | 65.2% |
| Median home value | $906,700 | $734,700 | $332,700 |
| Monthly owner costs, no mortgage | $856 | $829 | $638 |
| Monthly owner costs, with mortgage | $3,252 | $2,946 | $1,963 |
| Median household income | $108,077 | $99,122 | $80,734 |
| Veterans | 70,280 | 1,305,453 | 16,185,883 |
Monthly owner costs are medians and include taxes, insurance, utilities and any mortgage. The Census reports these up to $4,000.
Taxes, insurance and upkeep still come first
A reverse loan removes the mortgage payment, not the cost of owning. In San Diego those remaining costs run about $856 a month at the median, and that is before a new roof.
A HECM financial assessment reviews your credit, your record of paying property charges over the prior 24 months, and residual income. It can require a set-aside of funds to cover those charges.
Paying off the mortgage with a reverse loan in San Diego
For many retirees, the real job of a HECM is getting rid of an existing payment. In San Diego County, the median owner with a mortgage spends $3,252 a month on housing, and the median owner without one spends $856.
Your existing loan is paid off at closing from the HECM or your own funds. If the payoff takes up most of the available proceeds, you may have little cash left over, so we run that number first.
Home prices around San Diego
Over the past five years, the San Diego metro area has seen home values move +40.8%, according to FHFA, with +2.5% in the latest year. California as a whole moved +17.3% over the same five years.
To put that in dollars: a $906,700 home that tracked the index would have been worth about $640,000 five years ago, roughly $260,000 less. An index is an average and your home may differ, but this is the equity that a reverse loan draws on.
With prices moving slowly, do not plan around future gains. Build the plan on what the home is worth today and on how quickly the balance would grow.
If your San Diego home is a condo
Condos can qualify for a HECM, but the building is reviewed along with you. It needs FHA approval or a single-unit approval, and association finances, insurance and any lawsuits can matter.
Non-FHA reverse products exist for some condos that fail the project review, but their rules vary by state. We check FHA eligibility first.
A renter-heavy city changes the conversation
With 47.3% owner-occupancy, San Diego has far more renters than the national 65.2% owner rate would suggest. Owners here have something scarce, and rent is the number to beat if you are thinking about selling instead.
Compare the reverse loan against what it would cost to rent locally. A sale gives you all your equity, but it also starts a monthly rent bill for the rest of your life.
Property tax help in San Diego County
Before you borrow against a San Diego home, see whether a tax program covers the gap. California's Property Tax Postponement program lets homeowners 62 or older (or blind or disabled) defer current property taxes at 5 percent simple interest with household income of $55,181 or less and at least 40 percent equity. Funding is limited and first come, first served. Because a reverse loan reduces equity over time, check this program first. See the full California reverse mortgage guide.
The rules in brief
All borrowers must be 62 or older and live in the home as their principal residence, and you must first meet with a HUD-approved counselor (1-800-569-4287). The loan comes due when the last borrower dies, sells or moves out. Our reverse mortgage guide covers costs, spouses, heirs and how you can receive funds. You can also compare it to a HELOC, or see our full San Diego mortgage page.
More in California: Irvine, Santa Ana, Anaheim, Stockton, Riverside, Sacramento.
Sources: U.S. Census Bureau QuickFacts (American Community Survey 2020-2024, population estimates July 2025). FHFA House Price Index, 2026 Q2. HUD 2026 HECM limit.
Common questions
Can I get a reverse mortgage on my San Diego home?
Many San Diego owners can. The tests are your age (62 or older), your equity, your ability to keep up with taxes and insurance, and whether the property meets FHA standards.
Does the HECM limit matter for a San Diego home?
Most are comfortably under it. The 2026 limit is $1,249,125, and the San Diego median is $906,700, so proceeds are driven by your age, the appraisal and rates rather than the cap.
How much have home values risen near San Diego?
FHFA shows San Diego metro at +2.5% over one year and +40.8% over five years as of the second quarter of 2026.
Who still pays the San Diego County property tax bill?
You do. On a reverse mortgage you keep paying property taxes, insurance and upkeep. If you do not, the loan can become due.
Bayview Residential is a mortgage broker and is not affiliated with HUD or FHA. A reverse mortgage is a loan that must be repaid, and the balance grows over time. You must keep paying property taxes, insurance and home maintenance, and live in the home as your principal residence. All loans are subject to eligibility and approval. This page is general information and not legal, tax or benefits advice.