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 Q4 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Pasadena Housing Market Information

With 153,520 people, 48,931 houses or apartments, and a median cost of homes of $125,278, 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 58.33% of the city's housing units. Other types of housing that are prevalent in Pasadena include large apartment complexes or high rise apartments ( 29.89%), duplexes, homes converted to apartments or other small apartment buildings ( 5.55%), and a few mobile homes or trailers ( 4.49%).

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 53.30% owning and 46.70% 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 ( 39.82%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.80%). There's also some housing in Pasadena built before 1939 ( 1.02%).

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 43.18% over the last ten years, which is an average annual home appreciation rate of 3.65%, 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.

Appreciation rates are so strong in Pasadena that despite a nationwide downturn in the housing market, Pasadena real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pasadena appreciation rates continue to be some of the highest in America, at 8.25%, which is higher than appreciation rates in 81.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pasadena. Pasadena appreciation rates in the latest quarter were at 2.46%, which equates to an annual appreciation rate of 10.19%.

Relative to Texas, our data show that Pasadena's latest annual appreciation rate is higher than 80% 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:
$125,278

Pasadena, TX HOME PRICES

Value Range
> $1,290,000 0.2
$968,001 - $1,290,000 0.1
$645,001 - $968,000 0.3
$516,001 - $645,000 0.4
$387,001 - $516,000 2.7
$258,001 - $387,000 8.3
$129,001 - $258,000 35.9
$65,001 - $129,000 39.8
$0 - $65,000 12.2

Average for TX
Low for Nation

Value Relative to Nation Value Relative to State
69.0189781021898 56.5470417070805

Number Of Homes And Apartments:
48,931

Pasadena Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2018 Q3 - 2018 Q4
Last 12 Months:
2017 Q4 - 2018 Q4
Last 2 Years:
2016 Q4 - 2018 Q4
Last 5 Years:
2013 Q4 - 2018 Q4
Last 10 Years:
2008 Q4 - 2018 Q4
Since 2000:
2000 Q1 - 2018 Q4
89.64% 3.38%
5
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,147 / per month

Homeownership Rate

Homeownership
Owners 53.30
Renters 46.70
Vacant 9.08

Housing Market Details

 

Age of Homes

AGE OF Pasadena HOMES
2000 or Newer 12.8
1970 - 1999 46.4
1940 - 1969 39.8
1939 or Older 1.0

Types of Homes

TYPE OF Pasadena HOMES
Single-Family 58.3
Townhomes 1.6
Small Apt. Buildings 5.6
Apt. Complexes 29.9
Mobile Homes 4.5
Other 0.1

Home Size

SIZE OF Pasadena HOMES
No Bedroom 1.71
1 Bedroom 17.25
2 Bedrooms 24.91
3 Bedrooms 39.55
4 Bedrooms 14.08
5 or more bedrooms 2.50