Otay Ranch in Chula Vista sits on the eastern edge of San Diego County, just a half hour from the Mexico border. On paper, it might not seem like the kind of place that would attract new homeowners. In reality, it might just be one of the last remaining places near San Diego where homebuyers can find a good deal on a new house.

The San Diego Union Tribune recently delved into the potential being realized by the 25,000-acre residential development, the largest in San Diego County history. While it got hit hard by the housing crisis, it has since evolved into an affordable option in a sea of rising home prices and rents.

Per the Tribune, the San Diego County median price for a new home or condo in June was $787,000. Meanwhile, new homes in Otay Ranch were clocking in closer to $530,000. Considering the median resale home price in June was $595,000, that means you could find a new home here for less than an older home elsewhere. 

Of course, there are tradeoffs involved. Otay Ranch is close to three jails and not too far from a border steeped in controversy and concerns. If you’re commuting to San Diego you’re going to have to deal with some extra traffic as well. Taxes are often higher here than in other parts of the county, too. 

But, for homeowners tired of waiting out the market and watching prices rise around them, it’s also providing a respite from the rat race. Designed as a pedestrian-friendly community, Otay Ranch features various parks, bike trails, paseos, promenade streets, and a sizable town center. There’s also private swimming clubs, multi-purpose fields, and tot lots to stay active and enjoy weekends.

Developers have already completed around 10,000 homes here and have designs on up to 18,000 more. They certainly have the room for it considering it takes up nearly as much land as San Francisco. Ten different neighborhoods are currently selling, including Stratford’s 210-acre Millenia, which calls for 3,000 housing units spread across apartments, condos, and single-family houses. Among the housing options currently available, prices range between $326,000 for a townhome in Aviare to $750,900 for a single-family home in Signature.