South Pasadena, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating South Pasadena Neighborhoods Since 2000




South Pasadena, FL 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 5,081, 3,255 total housing units (homes and apartments), and a median house value of $249,514, 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 78.65% 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 ( 5.03%), and a few mobile homes or trailers ( 4.31%). 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 ( 25.41%). A lesser amount of the housing stock also hails from before 1939 ( 1.77%).

Vacant housing appears to be an issue in South Pasadena. Fully 30.57% 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 -0.98%, which is lower than 70% 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 10.51%, which is higher than appreciation rates in 95.14% 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 1.28%, which equates to an annual appreciation rate of 5.24%.

Relative to Florida, our data show that South Pasadena's latest annual appreciation rate is higher than 70% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$249,514

South Pasadena, FL HOME PRICES

Value Range
> $1,383,000 1.6
$1,037,001 - $1,383,000 1.0
$692,001 - $1,037,000 0.8
$554,001 - $692,000 2.8
$415,001 - $554,000 9.5
$277,001 - $415,000 22.3
$138,001 - $277,000 41.3
$69,001 - $138,000 11.5
$0 - $69,000 9.2

High for FL
High for Nation

Value Relative to Nation Value Relative to State
22.5887729989453 32.6923076923077

Number Of Homes And Apartments:
3,255

South Pasadena Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
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
85.97% 3.66% 7 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,578 / per month

Homeownership Rate

Homeownership
Owners 53.95
Renters 46.05
Vacant 30.57

Housing Market Details

 

Age of Homes

AGE OF South Pasadena HOMES
2000 or Newer 0.7
1970 - 1999 72.1
1940 - 1969 25.4
1939 or Older 1.8

Types of Homes

TYPE OF South Pasadena HOMES
Single-Family 10.5
Townhomes 1.5
Small Apt. Buildings 5.0
Apt. Complexes 78.6
Mobile Homes 4.3
Other 0.0

Home Size

SIZE OF South Pasadena HOMES
No Bedroom 9.53
1 Bedroom 30.18
2 Bedrooms 53.97
3 Bedrooms 4.67
4 Bedrooms 1.64
5 or more bedrooms 0.00