County’s Growth Rate May Slow, but It Will Rank Among Leaders

San Diego County’s growth rate is expected to slow during 1988, but the county will remain one of the nation’s fastest-growing metropolitan areas, according to a report issued by First Interstate Bank.

The county’s population will grow at an annual rate of 2.2% through the year 2000, more than twice the growth rate projected for California and the nation as a whole, the report said. However, growth curbs will direct much of that growth to southern parts of the county.

First Interstate’s report predicted that countywide housing construction will decline by 22% in 1988 to 33,700 single-family homes and apartment buildings. Rising land prices will “continue to put pressure on affordability, especially for the middle-income household, thus limiting demand,” according to the report.

Inflation in San Diego County will increase to 4.5% in 1988, up from 4.2% during 1987, the report said. Per capita income, which grew at a 3.3% rate during 1987, will increase by 3.9%, a rate that is “slightly below the California average . . . (but) well above the U.S. average,” according to the report.

Non-farm employment will slow to 3.3% in 1988, down from a 3.9% growth rate during 1987. Unemployment, which rose to 4.4% at the end of 1987 will rise “only slightly” during 1988, according to First Interstate.