South Pasadena, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating South Pasadena Neighborhoods Since 2000




South Pasadena, FL Real Estate Data


South Pasadena Housing Market Information

With 5,081 people, 3,080 houses or apartments, and a median cost of homes of $270,017, South Pasadena real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in South Pasadena, accounting for 80.73% of the city's housing units. Other types of housing that are prevalent in South Pasadena include single-family detached homes ( 10.47%), duplexes, homes converted to apartments or other small apartment buildings ( 3.68%), and a few mobile homes or trailers ( 3.29%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in South Pasadena primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. South Pasadena has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in South Pasadena built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in South Pasadena built between 1940-1969 ( 24.37%). A lesser amount of the housing stock also hails from between 2000 and later ( 0.88%).

Vacant housing appears to be an issue in South Pasadena. Fully 33.76% of the housing stock is classified as vacant. Left unchecked, vacant South Pasadena homes and apartments can be a drag on the real estate market, holding South Pasadena real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

South Pasadena Home Appreciation Rates

South Pasadena's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in South Pasadena during the period has been just -1.36%, which is lower than 80% of US communities.

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 12.00%, which is higher than appreciation rates in 99.52% 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 3.75%, which equates to an annual appreciation rate of 15.85%.

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 Florida, our data show that South Pasadena's latest annual appreciation rate is higher than 80% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$270,017

South Pasadena, FL HOME PRICES

Value Range
> $1,433,000 4.2
$1,075,001 - $1,433,000 1.0
$717,001 - $1,075,000 1.2
$573,001 - $717,000 1.8
$430,001 - $573,000 9.6
$287,001 - $430,000 22.5
$143,001 - $287,000 37.4
$71,001 - $143,000 13.5
$0 - $71,000 8.9

High for FL
High for Nation

Value Relative to Nation Value Relative to State
20.2553141652515 32.2649572649573

Number Of Homes And Apartments:
3,080

Rent & Ownership

 

Average Market Rent:
$1,528 / per month

Homeownership Rate

Homeownership
Owners 51.05
Renters 48.95
Vacant 33.76

Housing Market Details

 

Age of Homes

AGE OF South Pasadena HOMES
2000 or Newer 0.9
1970 - 1999 74.4
1940 - 1969 24.4
1939 or Older 0.3

Types of Homes

TYPE OF South Pasadena HOMES
Single-Family 10.5
Townhomes 1.8
Small Apt. Buildings 3.7
Apt. Complexes 80.7
Mobile Homes 3.3
Other 0.0

Home Size

SIZE OF South Pasadena HOMES
No Bedroom 8.75
1 Bedroom 30.54
2 Bedrooms 54.39
3 Bedrooms 5.44
4 Bedrooms 0.88
5 or more bedrooms 0.00

South Pasadena Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
84.94% 3.68% 7 9
* 10 is highest