A family looking for a home in Pasadena once filtered online listings by type. The single-family home category had very few listings, while the condo and townhome categories showed many more results. The first reality this family faced was not the price, but the ratio of available listings.

As of May 2026, the median sale price for all homes in Pasadena is $1.2 million, which is down 1.7 percent from a year ago (Redfin). At first glance, this number makes Pasadena seem like a city with a high barrier to entry.

However, when broken down by type, the situation changes. In the first quarter of this year, the median price for single-family homes is $1.4 million, down 5.1 percent from the previous year, but still above the citywide average. In contrast, condos are maintaining a similar level to last year at around $810,000 (Redfin).

We did not find separate statistics for townhomes in this survey. However, considering that the median price for townhomes in nearby Los Angeles is around $882,000 (Redfin, June 2026), it is likely that Pasadena townhomes are positioned somewhere between single-family homes and condos. Accurate figures would require checking individual listings.

The family mentioned earlier ultimately narrowed their search to condos. The reason for choosing a condo near downtown Pasadena was simple. Most listings within their budget for single-family homes were located in lower-rated school districts on the outskirts, and within the desired school district, condos were essentially the only option.

They continued to deliberate over the HOA fees. Nationally, the average condo HOA fee is reported to be around $400 per month, while townhomes are about $200 (Condo Control data). However, in areas like Pasadena, which have many older buildings, fees can often be higher, necessitating a direct comparison of fee statements for each listing.

In areas where there are few single-family home listings, the ratio of available listings often dictates the decision more than the budget. Rather than waiting indefinitely for a single-family home that meets all desired criteria, it seems more realistic to choose the best option available within the types currently on the market.

While they initially referenced GreatSchools ratings for school districts, they ultimately double-checked the assignment criteria from the local school district. Since school district boundaries change frequently, it is safer to verify the assigned school based on the property address.

From an investor's perspective looking for rental income, Pasadena is considered to have steady rental demand due to its proximity to Caltech. However, this is merely an observation at a specific point in time and does not guarantee future price increases.

If moving to Pasadena from another state, the property tax calculation method may feel unfamiliar. Taxes are assessed based on the purchase price, and the rate of increase is limited under California's unique structure, which becomes more advantageous the longer one resides there, though specific criteria can vary by county.

Some families have not given up on single-family homes. In such cases, they typically broaden their search to the outskirts of Pasadena or nearby cities, prioritizing homes with yards even if it means a slightly longer commute. Ultimately, the choice of type comes down to how one weighs budget, school district, and commute distance. Establishing these three priorities in advance allows for consistent judgment when viewing listings.

For investment purposes, the lower barrier to entry for condos may seem attractive, but some complexes have rental restrictions, so verification before purchase is necessary. It is also important to keep in mind that price increases cannot be guaranteed.

In Pasadena, there is a natural trend where the proportion of condos increases at the intersection of budget and school district. This article is not investment or legal advice, and it is recommended to consult with a professional before making any actual contracts.