Pasadena, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Pasadena, MD 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 25,357 people, 9,130 houses or apartments, and a median cost of homes of $285,927, Pasadena real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Pasadena, accounting for 70.56% of the town's housing units. Other types of housing that are prevalent in Pasadena include row houses and other attached homes ( 22.75%), large apartment complexes or high rise apartments ( 4.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.07%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Pasadena. Owner-occupied housing accounts for 86.06% of Pasadena's homes, and 76.02% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in 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 Pasadena built between 2000 and later ( 23.86%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.85%). There's also some housing in Pasadena built before 1939 ( 4.30%).

Pasadena Home Appreciation Rates

Pasadena's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Pasadena during the period has been just -1.82%, which is lower than 80% of US communities.

Over the last year, Pasadena appreciation rates have trailed the rest of the nation. In the last twelve months, Pasadena's appreciation rate has been 1.56%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pasadena were at -0.51%, which equates to an annual appreciation rate of -2.03%.

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

One very important thing to keep in mind is that these are average appreciation rates for the town. 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:
$285,927

Pasadena, MD HOME PRICES

Value Range
> $1,059,000 0.3
$794,001 - $1,059,000 1.3
$530,001 - $794,000 6.6
$424,001 - $530,000 5.9
$318,001 - $424,000 21.9
$212,001 - $318,000 51.5
$106,001 - $212,000 9.0
$53,001 - $106,000 0.2
$0 - $53,000 3.3

Average for MD
Very High for Nation

Value Relative to Nation Value Relative to State
17.8073362240713 54.5801526717557

Number Of Homes And Apartments:
9,130

Pasadena Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
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
74.02% 3.26% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,484 / per month

Homeownership Rate

Homeownership
Owners 86.06
Renters 13.94
Vacant 6.57

Housing Market Details

 

Age of Homes

AGE OF Pasadena HOMES
2000 or Newer 23.9
1970 - 1999 53.0
1940 - 1969 18.8
1939 or Older 4.3

Types of Homes

TYPE OF Pasadena HOMES
Single-Family 70.6
Townhomes 22.7
Small Apt. Buildings 2.1
Apt. Complexes 4.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Pasadena HOMES
No Bedroom 0.12
1 Bedroom 2.66
2 Bedrooms 15.84
3 Bedrooms 50.02
4 Bedrooms 26.00
5 or more bedrooms 5.35