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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Pasadena, CA Real Estate Market

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 Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Pasadena, CA Housing Market Trends

With 134,211 people, 56,076 houses or apartments, and a median cost of homes of $1,277,156, Pasadena house prices are not only among the most expensive in California, Pasadena real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Pasadena, accounting for 43.43% of the city's housing units. Other types of housing that are prevalent in Pasadena include single-family detached homes ( 42.45%), duplexes, homes converted to apartments or other small apartment buildings ( 8.20%), and a few row houses and other attached homes ( 5.88%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

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

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Pasadena's housing was primarily built during this period, from the '40s through the '60s. A full 32.14% of the city's housing hails from this era. Other housing ages represented in Pasadena include homes built before 1939 ( 28.99%) and housing constructed between 1970-1999 ( 27.46%). There's also some housing in Pasadena built between 2000 and later ( 11.41%).

Pasadena Home Appreciation Rates

Appreciation rates for homes in Pasadena have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 99.60%, which ranks in the top 40% nationwide. This equates to an annual average Pasadena house appreciation rate of 7.16%.

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 11.40%, which is higher than appreciation rates in 92.25% 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 2.09%, which equates to an annual appreciation rate of 8.62%.

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

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

$1,277,156

Pasadena, CA Home Prices
> $1,372,000
$1,029,001 - $1,372,000
$686,001 - $1,029,000
$549,001 - $686,000
$412,001 - $549,000
$275,001 - $412,000
$137,001 - $275,000
$69,001 - $137,000
$0 - $69,000
39.5%
39.5%
27.0%
27.0%
24.6%
24.6%
5.3%
5.3%
1.1%
1.1%
0.6%
0.6%
1.1%
1.1%
0.2%
0.2%
0.7%
0.7%
0% 100.0%
% of Homes
Very High

for California

Very High

for nation

Number of Homes And Apartments:

56,076

Pasadena Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,593 / per month

Homeownership Rate

Owners
Renters
40.7%
40.7%
59.3%
59.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.5%
9.5%
90.5%
90.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.4%
11.4%
27.5%
27.5%
32.1%
32.1%
29.0%
29.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
42.5%
42.5%
5.9%
5.9%
8.2%
8.2%
43.4%
43.4%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
6.4%
6.4%
23.3%
23.3%
35.6%
35.6%
24.2%
24.2%
8.2%
8.2%
2.3%
2.3%
0% 100.0%
% of Homes