South Pasadena, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating South Pasadena Neighborhoods Since 2000




South 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

South Pasadena Housing Market Information

With a population of 26,151, 10,276 total housing units (homes and apartments), and a median house value of $1,008,127, South Pasadena house prices are not only among the most expensive in California, South Pasadena real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in South Pasadena, accounting for 45.47% of the city's housing units. Other types of housing that are prevalent in South Pasadena include large apartment complexes or high rise apartments ( 38.02%), duplexes, homes converted to apartments or other small apartment buildings ( 9.78%), and a few row houses and other attached homes ( 6.65%).

People in South Pasadena primarily live in small (one, two or no bedroom) single-family detached homes. South 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. South Pasadena's housing was primarily built during this period, from the '40s through the '60s. A full 42.34% of the city's housing hails from this era. Other housing ages represented in South Pasadena include homes built before 1939 ( 33.89%) and housing constructed between 1970-1999 ( 21.05%). There's also some housing in South Pasadena built between 2000 and later ( 2.71%).

South Pasadena Home Appreciation Rates

In the last 10 years, South Pasadena has experienced some of the highest home appreciation rates of any community in the nation. South Pasadena real estate appreciated 35.82% over the last ten years, which is an average annual home appreciation rate of 3.11%, putting South Pasadena in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, South 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 South Pasadena that despite a nationwide downturn in the housing market, South Pasadena real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, South Pasadena appreciation rates continue to be some of the highest in America, at 7.24%, which is higher than appreciation rates in 82.64% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in South Pasadena. South Pasadena appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 8.20%.

Importantly, this makes South 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 South Pasadena's latest annual appreciation rate is lower than 60% 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 South Pasadena differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in South 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 South Pasadena real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$1,008,127

South Pasadena, CA HOME PRICES

Value Range
> $1,291,000 30.3
$968,001 - $1,291,000 26.6
$645,001 - $968,000 29.0
$516,001 - $645,000 5.8
$387,001 - $516,000 4.6
$258,001 - $387,000 0.4
$129,001 - $258,000 1.1
$65,001 - $129,000 1.2
$0 - $65,000 1.1

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
1.02543068088597 10.978835978836

Number Of Homes And Apartments:
10,276

South 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
179.71% 6.14% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,943 / per month

Homeownership Rate

Homeownership
Owners 43.21
Renters 56.79
Vacant 7.03

Housing Market Details

 

Age of Homes

AGE OF South Pasadena HOMES
2000 or Newer 2.7
1970 - 1999 21.1
1940 - 1969 42.3
1939 or Older 33.9

Types of Homes

TYPE OF South Pasadena HOMES
Single-Family 45.5
Townhomes 6.6
Small Apt. Buildings 9.8
Apt. Complexes 38.0
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF South Pasadena HOMES
No Bedroom 2.93
1 Bedroom 25.12
2 Bedrooms 34.29
3 Bedrooms 21.90
4 Bedrooms 11.87
5 or more bedrooms 3.89