Pasadena, California Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Pasadena, California rental market.
Pasadena, California
Average Apartment Rent
$3,167
Y-o-Y Change in Average
Apartment Rent
2.8%
As of November 2024
Compared to a year ago, Pasadena, California apartments have recorded a 2.8% rent increase.
Pasadena, California Average apartment rent trend
Pasadena, California Average Apartment Rent
Pasadena, California Apartment rent ranges
At 95.1%, apartments priced Over $2,000 represent the bulk of Pasadena, California rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 4.9%.
Pasadena, California Housing tenure**
Renters take up 58% of Pasadena, California real estate, occupying a total of 32,454 units, while homeowners live in 23,622 properties.
Median number of rooms of renter-occupied housing units**
3.6
Renter median household income**
$76,437
Average household size of renter-occupied housing units**
2.24
Rental vacancy rate**
3%
Pasadena, California Renter-occupied housing units by no. of bedrooms**
There are 12,802 rentals in Pasadena, California with 2 beds making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 164 units. Overall, the median number of rooms in Pasadena, California homes for rent is 3.6.
Pasadena, California Renter-occupied units by age of householder**
Most condos for rent in Pasadena, California are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 35 - 44 years age group (22%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Pasadena, California Renter-occupied housing units by family type**
Pasadena, California Renter-occupied housing units by the presence of own children**
A total of 14,805 apartments for rent in Pasadena, California, or 46% of all rentals are family households. Additionally, 20% of rental homes include children under the age of 18 – that’s 6,573 units. All in all, the median size of a renter-occupied household in Pasadena, California is 2.24.
Pasadena, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 54% of the rental market. In contrast, residents with less than a high school degree reside in 11% of the homes for rent in Pasadena, California.
Pasadena, California Renter-occupied units by year structure built**
The highest share of Pasadena, California apartment rentals, namely 22% or 7,044 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (15%, 4,886 units), and the ones Built 1960 - 1969 (14%, 4,652 units).
Pasadena, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Pasadena, California renters (43%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Pasadena, California condos for rent is 2016.
Pasadena, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 45% of Pasadena, California renters have 1 vehicle available per household, 32% of them have 2 vehicles available, and 14% have No vehicle available.
Pasadena, California Means of transportation to work of householders living in renter-occupied housing units**
Pasadena, California Geographical mobility in the past year for householders living in renter-occupied housing units**
Pasadena, California Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Pasadena, California apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
