Pasadena, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 Q4 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Pasadena Housing Market Information

With 142,647 people, 54,734 houses or apartments, and a median cost of homes of $791,372, 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 43.30% of the city's housing units. Other types of housing that are prevalent in Pasadena include large apartment complexes or high rise apartments ( 41.94%), duplexes, homes converted to apartments or other small apartment buildings ( 9.29%), and a few row houses and other attached homes ( 5.17%).

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 35.17% of the city's housing hails from this era. Other housing ages represented in Pasadena include homes built before 1939 ( 28.52%) and housing constructed between 1970-1999 ( 27.44%). There's also some housing in Pasadena built between 2000 and later ( 8.88%).

Pasadena Home Appreciation Rates

In the last 10 years, Pasadena has experienced some of the highest home appreciation rates of any community in the nation. Pasadena real estate appreciated 61.61% over the last ten years, which is an average annual home appreciation rate of 4.92%, putting Pasadena in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pasadena definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 9.19%, which is higher than appreciation rates in 87.66% 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 2.00%, which equates to an annual appreciation rate of 8.24%.

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:
$791,372

Pasadena, CA HOME PRICES

Value Range
> $1,292,000 15.6
$969,001 - $1,292,000 15.7
$646,001 - $969,000 35.2
$517,001 - $646,000 15.9
$387,001 - $517,000 10.2
$258,001 - $387,000 4.2
$129,001 - $258,000 0.9
$64,001 - $129,000 0.3
$0 - $64,000 1.9

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
2.45839416058394 22.8047182175623

Number Of Homes And Apartments:
54,734

Pasadena Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2018 Q3 - 2018 Q4
Last 12 Months:
2017 Q4 - 2018 Q4
Last 2 Years:
2016 Q4 - 2018 Q4
Last 5 Years:
2013 Q4 - 2018 Q4
Last 10 Years:
2008 Q4 - 2018 Q4
Since 2000:
2000 Q1 - 2018 Q4
214.62% 6.14%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,143 / per month

Homeownership Rate

Homeownership
Owners 42.43
Renters 57.57
Vacant 9.21

Housing Market Details

 

Age of Homes

AGE OF Pasadena HOMES
2000 or Newer 8.9
1970 - 1999 27.4
1940 - 1969 35.2
1939 or Older 28.5

Types of Homes

TYPE OF Pasadena HOMES
Single-Family 43.3
Townhomes 5.2
Small Apt. Buildings 9.3
Apt. Complexes 41.9
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Pasadena HOMES
No Bedroom 7.23
1 Bedroom 23.40
2 Bedrooms 34.31
3 Bedrooms 24.76
4 Bedrooms 7.59
5 or more bedrooms 2.71