Coronado is one of the most beautiful places to live in the entire U.S. The world-class beach, the panoramic view of Downtown San Diego, the seaside village quaintness, the top-rated schools—only multi-millionaires can afford to live here, right?
While most homeowners view Coronado as an “I wish I could live there” oasis, the reality is that the island has a diverse real estate market that is far from impenetrable. Sure, with a median home value exceeding $1.6 million and rising, there are plenty of places reserved for the ultra-affluent. But you can just as easily find a wonderful home for half that price.
What Can You Get for Under $1 Million?
The Coronado real estate market is divided into 3 sections: the Village, the Shores, and the Cays.
The Village is the center of the island, just over the San Diego–Coronado Bridge. Here you can find a 1- or 2-bedroom condo for roughly $500k-$600k. You might also find a 3-bedroom townhouse for $800k or a single-family detached home for just under $1 million.
The Shores are the high-rises adjacent to the iconic Hotel del Coronado. These condos offer oceanfront and bay views, with studios going for roughly $600k and 1-bedroom units fetching approximately $900k.
Near the southern tip of the island, the Cays consist of 10 different villages with an array of living options including condos, houses, planned unit developments, detached homes, and attached homes. There are 2-bedroom condos in the $700k range and 3-bedroom houses right at the $1 million mark.
Overall, there are plenty of modest home prices to be found in Coronado virtually anywhere on the island you look.
The Full Spectrum
When buying a home in Coronado, you will see a wide range of options in between the $1 million mark and sheer extravagance. Moving up the scale, here are a few ballpark figures:
- Village, 2,500 sq. foot home: $1.4 million–$1.5 million
- Shores, 2-bedroom condo: $1.5 million
- Shores, 3-bedroom condo, ocean view: $1.8 million to $3.4 million
You’re Not Just Buying a Home
As you would probably guess, the closer you get to the beach, the more you can expect to pay. However, Coronado is a small island, and regardless of how much you spend, you are still gaining access to a truly enviable lifestyle. You’re always in walking distance not only to the beach, but also to tons of dining options, entertainment, and all of your necessities. And between the island’s low crime rate and top-notch schools, you’d have a hard time finding a better place to raise children.
Moving to Coronado isn’t necessarily a matter of “downsizing,” either. On paper, the square-footage might be less. But most people who are attracted to Coronado prefer to spend most of their time outdoors and with friends, anyway. From walking down charming Orange Avenue for coffee on a Sunday morning to watching the sun set over the Pacific Ocean on a Wednesday night, Coronado is a pleasant, safe, tight-knit community that redefines the word “home.”
Military Families Can Buy Here, Too
Military is ingrained in San Diego’s culture, particularly in Coronado, where Naval Base Coronado employs more than 36,000 military and civilian personnel. Military families often hold the common misconception that they can’t afford to buy here, but VA loans make it entirely manageable. For more on this strategy, check out our guide to using VA loans to build a real estate investment portfolio.
Whether you’re considering Coronado for retirement, to raise children, or simply because you’re enchanted by the island lifestyle, Del Coronado Realty can help you find your new Coronado home. Get in touch with our experienced team of Coronado real estate experts.