Pasadena, California Housing Market Prices
Pasadena Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 44% below the California median$365,686
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Median rent 11% above the California median$2,260
Housing Market Overview
| Metric | Pasadena | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $365,686 | $650,794 | $248,835 |
| Price Trend (Annual %) | 2.6% | 8.9% | 7.5% |
| Median Gross Rent | $2,260 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 6.0% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pasadena is about 44% lower than in California. Rent is about 11% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Pasadena, up about 2.6% and 6.0% a year respectively. Rent is changing faster.
Median rent in Pasadena rose about 65.1% between 2015 and 2024, from $1,369 to $2,260. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Pasadena.
Buying the median-priced home in Pasadena costs roughly 13.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Pasadena. The price-to-rent ratio in California is about 26.6.
| Metric | Pasadena | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $365,686 | $650,794 | $248,835 |
| Median Household Income | $104,894 | $99,161 | $80,455 |
| Price-to-Income Ratio | 3.5 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Pasadena fell about 26.2%, while median household income rose about 63.7% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Pasadena | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 38.8% | 51.7% | 58.5% |
| Rental Rate | 52.0% | 40.8% | 31.2% |
| Vacancy Rate | 9.2% | 7.5% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Pasadena has a homeownership rate of 38.8%, lower than the California average of 51.7%. Its housing vacancy rate is 9.2%, compared with 7.5% in California.
Housing Stock
| Metric | Pasadena | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1961 | 1975 | 1978 |
| Median Number of Rooms | 4.3 | 5.0 | 5.5 |
The typical housing unit in Pasadena was built around 1961. On average, 2.3 people live in a home with about 4.3 rooms, staying for about 13.0 years on average.
Pasadena, CA Housing Compared With Nearby Cities
How Pasadena, CA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Pasadena, CA | 138,535 | $365,686 #2/2 | $2,260 #2/2 | 42.8% #2/2 |
| Altadena, CA | 39,664 | $1,139,817 | $2,404 | 77.3% |
Frequently Asked Questions
Common questions about the housing market in Pasadena, California.
What is the median home price in Pasadena, California?
The median home price in Pasadena, California is $365,686, lower than the California average of $650,794.
What is the average home price in Pasadena, California?
The typical home price in Pasadena, California, reported as the median sale price, is $365,686. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Pasadena, California?
The median gross rent in Pasadena, California is $2,260 per month, higher than the California average of $2,036.
What was the median gross rent in Pasadena in 2020?
In 2020, the median gross rent in Pasadena, California was $1,783 per month.
What is the price-to-rent ratio in Pasadena, California?
The price-to-rent ratio in Pasadena, California is about 13.5, meaning it would take roughly 13.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Pasadena.
Are home prices or rent rising faster in Pasadena, California?
Both home prices and rent are rising in Pasadena, up about 2.6% and 6.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Pasadena, California?
38.8% of households in Pasadena, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in Pasadena, California?
The housing vacancy rate in Pasadena, California is 9.2%, higher than the California average of 7.5%.
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