Pasadena, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Pasadena Neighborhoods Since 2000




Pasadena, CA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Pasadena Housing Market Information

With a population of 142,250, 54,536 total housing units (homes and apartments), and a median house value of $693,926, real estate costs in Pasadena are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.

Single-family detached homes are the single most common housing type in Pasadena, accounting for 42.56% of the city's housing units. Other types of housing that are prevalent in Pasadena include large apartment complexes or high rise apartments ( 42.54%), duplexes, homes converted to apartments or other small apartment buildings ( 8.98%), and a few row houses and other attached homes ( 5.60%).

People in Pasadena primarily live in small (one, two or no bedroom) single-family detached homes. Pasadena has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Pasadena's housing was primarily built during this period, from the '40s through the '60s. A full 33.90% of the city's housing hails from this era. Other housing ages represented in Pasadena include homes built before 1939 ( 28.87%) and housing constructed between 1970-1999 ( 27.80%). There's also some housing in Pasadena built between 2000 and later ( 9.43%).

Pasadena Home Appreciation Rates

Appreciation rates for homes in Pasadena have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.72%, which ranks in the top 30% nationwide. This equates to an annual average Pasadena house appreciation rate of 1.38%.

Appreciation rates are so strong in Pasadena that despite a nationwide downturn in the housing market, Pasadena real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pasadena appreciation rates continue to be some of the highest in America, at 8.01%, which is higher than appreciation rates in 86.77% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pasadena. Pasadena appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 8.20%.

Importantly, this makes Pasadena one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to California, our data show that Pasadena's latest annual appreciation rate is higher than 50% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Pasadena differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pasadena - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Pasadena real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$693,926

Pasadena, CA HOME PRICES

Value Range
> $1,293,000 11.6
$970,001 - $1,293,000 13.2
$647,001 - $970,000 31.7
$517,001 - $647,000 16.2
$388,001 - $517,000 15.1
$259,001 - $388,000 8.0
$129,001 - $259,000 1.2
$65,001 - $129,000 0.8
$0 - $65,000 2.2

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
2.70127739364819 23.4126984126984

Number Of Homes And Apartments:
54,536

Pasadena Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
172.57% 5.99% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,862 / per month

Homeownership Rate

Homeownership
Owners 42.40
Renters 57.60
Vacant 7.29

Housing Market Details

 

Age of Homes

AGE OF Pasadena HOMES
2000 or Newer 9.4
1970 - 1999 27.8
1940 - 1969 33.9
1939 or Older 28.9

Types of Homes

TYPE OF Pasadena HOMES
Single-Family 42.6
Townhomes 5.6
Small Apt. Buildings 9.0
Apt. Complexes 42.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Pasadena HOMES
No Bedroom 5.94
1 Bedroom 24.33
2 Bedrooms 34.43
3 Bedrooms 24.91
4 Bedrooms 7.49
5 or more bedrooms 2.90