Rent to own Homes in Pasadena, CA
Home to the Rose Bowl and Tournament of Roses Parade, Pasadena, California, is a charming town that offers the best of both worlds. The city of over 137,000 has the character and ambiance of a small town without being too isolated from big city life. The close proximity to Los Angeles, along with its own bustling downtown, makes Pasadena a modern, urban environment that still has a laid-back feel. Pasadena is also home to the California Institute of Technology and the Jet Propulsion Laboratory.
Pasadena, CA is a great place for affordable rent-to-own homes! With a median household income of over $85,129 and a median rent of $1,787, the Pasadena, CA rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Pasadena, CA. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Pasadena, CA Property Resources
Rent to own Homes in Cities Near Pasadena, CA
- Beverly Hills
- Duarte
- East Pasadena
- Encino
- Glendora
- Granada Hills
- Hacienda Heights
- Harbor City
- Hawthorne
- Hermosa Beach
- Huntington Beach
- Huntington Park
- Industry
- Inglewood
- Irwindale
- La Canada Flintridge
- La Crescenta-Montrose
- Ladera Heights
- La Habra Heights
- La Puente
- Lennox
- Long Beach
- Los Angeles
- Lynwood
- Marina del Rey
- Maywood
- North Hollywood
- Norwalk
- Palos Verdes Estates
- Palos Verdes Peninsula
- Panorama City
- Paramount
- Pico Rivera
- Rolling Hills
- Rose Hills
- Rossmoor
- San Pasqual
- Sierra Madre
- South Monrovia Island
- South Whittier
- Tarzana
- Van Nuys
- Vincent
- Walnut
- West Carson
- West Covina
- Westminster
- West Puente Valley
- Whittier
- Wilmington
Neighborhoods in Pasadena, CA
Lexington Heights rent to own homes La Pintoresca Park rent to own homes Garfield Heights rent to own homes Lincoln-Villa rent to own homes Brigden Ranch rent to own homes Brookside Park rent to own homes Villa Parke rent to own homes Playhouse District rent to own homes Victory Park rent to own homes Prospect Park rent to own homesBuying a Home in Pasadena, CA
Pasadena, CA is seeing rapid growth and Pasadena, CA's' housing market remains not optimal with an average home price that is 278% above the 2024 national average. Pasadena, CA is part of Los Angeles county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Los Angeles is 0.59% which is below the national average, which is 0.99%.
Median Home Price in Pasadena, CA
Median Rent in Pasadena, CA
Top Reasons to Live in Pasadena CA
Housing Statistics Pasadena has witnessed a steady growth in terms of home sale prices over the past few years. The median home sale price is now close to $564,000, registering an increase of almost 4% since last year. The number of home sale transactions have also remained steady, suggesting a continuing interest in residential property in the city. Of the total number of sales transactions, 28% were completed through cash. Owing to high home prices, people prefer to rent apartments instead of buying them. As a result, almost 51% of the houses are rented, 41% are owned, and 7% are vacant. As the rent to mortgage ratio is higher than normal in Pasadena, people are warming up to the idea of rent to own houses.
Transportation and Commutes The best part about living in Pasadena is that you get to enjoy the perks of city life without having to tolerate its unpleasant aspects. For instance, commuting in Pasadena is much less of an ordeal than in neighboring cities like Los Angeles. The average commute time is close to 30 minutes and most of the people drive their own cars to work. A small fraction of the population also uses modes of public transport (the Los Angeles Metro Gold Line or one of the many bus services) to commute to work daily. Walking remains the preferred mode of commuting in the downtown area of Old Pasadena.
Nightlife in Pasadena Even though one can always drive to Los Angeles to get a taste of exciting night life, the truth is that Pasadena itself has a lot to offer in this department. There is something for everyone, from upscale, suave lounges to boisterous dance clubs. There is absolutely no dearth of options--Club Menage, on E Coronado Boulevard, is known for its Moulin Rouge-style decor and happening music. Kings Row Gastropub, also on E Coronado, is the first gastropub in town and is known for its craft brews. Bashan Restaurant on N Verdugo Road and Levitt Pavilion are among the other more popular drinking establishments in the city.
Neighborhood Guide Neighborhoods in Pasadena are often categorized in two categories: north or south of the 210 freeway. Here are some areas you should know about: