Pasadena TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Pasadena, TX 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Pasadena Housing Market Information

With 153,219 people, 48,724 houses or apartments, and a median cost of homes of $125,916, house prices in Pasadena are solidly below the national average.

Single-family detached homes are the single most common housing type in Pasadena, accounting for 58.56% of the city's housing units. Other types of housing that are prevalent in Pasadena include large apartment complexes or high rise apartments ( 29.94%), duplexes, homes converted to apartments or other small apartment buildings ( 5.04%), and a few mobile homes or trailers ( 4.73%).

The most prevalent building size and type in Pasadena are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.61% owning and 47.39% renting.

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 1940-1969 ( 40.59%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.57%). There's also some housing in Pasadena built before 1939 ( 1.11%).

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 57.57% over the last ten years, which is an average annual home appreciation rate of 4.65%, putting Pasadena in the top 20% 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.

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 -0.31%, 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 -0.44%, which equates to an annual appreciation rate of -1.74%.

Notably, Pasadena's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Texas, our data show that Pasadena's latest annual appreciation rate is lower than 90% of the other cities and towns in Texas.

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:
$125,916

Pasadena, TX HOME PRICES

Value Range
> $1,232,000 0.3
$924,001 - $1,232,000 0.2
$616,001 - $924,000 0.5
$493,001 - $616,000 0.6
$370,001 - $493,000 3.2
$246,001 - $370,000 9.4
$123,001 - $246,000 39.5
$62,001 - $123,000 34.3
$0 - $62,000 12.0

Low for TX
Low for Nation

Value Relative to Nation Value Relative to State
72.3503649635037 60.1357904946654

Number Of Homes And Apartments:
48,724

Pasadena Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
95.86% 3.38%
4
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,177 / per month

Homeownership Rate

Homeownership
Owners 52.61
Renters 47.39
Vacant 9.35

Housing Market Details

 

Age of Homes

AGE OF Pasadena HOMES
2000 or Newer 12.6
1970 - 1999 45.7
1940 - 1969 40.6
1939 or Older 1.1

Types of Homes

TYPE OF Pasadena HOMES
Single-Family 58.6
Townhomes 1.7
Small Apt. Buildings 5.0
Apt. Complexes 29.9
Mobile Homes 4.7
Other 0.1

Home Size

SIZE OF Pasadena HOMES
No Bedroom 1.78
1 Bedroom 16.92
2 Bedrooms 25.13
3 Bedrooms 40.13
4 Bedrooms 13.37
5 or more bedrooms 2.68