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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 5,319 people, 3,127 houses or apartments, and a median cost of homes of $410,923, South Pasadena real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in South Pasadena, accounting for 78.88% of the city's housing units. Other types of housing that are prevalent in South Pasadena include mobile homes or trailers ( 7.87%), single-family detached homes ( 5.88%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.77%). 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 South Pasadena primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. South Pasadena has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in South 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 South Pasadena built between 1940-1969 ( 23.12%). A lesser amount of the housing stock also hails from between 2000 and later ( 1.22%).
Vacant housing appears to be an issue in South Pasadena. Fully 32.94% of the housing stock is classified as vacant. Left unchecked, vacant South Pasadena homes and apartments can be a drag on the real estate market, holding South Pasadena real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, South Pasadena has experienced some of the highest home appreciation rates of any community in the nation. South Pasadena real estate appreciated 175.54% over the last ten years, which is an average annual home appreciation rate of 10.67%, putting South Pasadena in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, South 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, South Pasadena appreciation rates have trailed the rest of the nation. In the last twelve months, South Pasadena's appreciation rate has been 3.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in South Pasadena were at 0.30%, which equates to an annual appreciation rate of 1.19%.
Notably, South Pasadena's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Florida, our data show that South Pasadena's latest annual appreciation rate is lower than 50% of the other cities and towns in Florida.
$410,923
for Florida
for nation
3,127
$3,354 / per month