Real Estate Investing in Pasadena, California (91104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 91104 (Pasadena, CA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 38.0 — hard to cash-flow at these prices.
What’s happening in Pasadena, CA (91104)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 91104 Pasadena
ZIP 91104 inside Los Angeles County looks affordable on the surface — median value of $1.2M — but the discount exists for reasons that a careful buyer should understand before committing.
The 91104 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Nearby ZIPs in Pasadena have seen price recovery that 91104 has not matched. Los Angeles County data supports the view that the spread is structural rather than temporary.
A notable renter share of 46% in 91104 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 91104 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Pasadena:
Property Strategy for 91104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $774,712 | $2,200 | 2.0% | +4.1% | $774,712 |
| 2BR | $997,984 | $2,740 | 2.0% | +6.0% | $498,992 |
| 3BR | $1,261,258 | $3,470 | 2.0% | +6.8% | $420,419 |
| 4BR | $1,493,144 | $3,870 | 1.9% | +7.2% | $373,286 |
| 5BR | $1,642,215 | — | — | +6.8% | $328,443 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 91104 Compare?
| Metric | 91104 | Pasadena | Los Angeles-Long Beach-Anaheim, CA | California |
|---|---|---|---|---|
| Home Value | $1,228,636 | $1,022,984 | N/A | $761,003 |
| 5-Year CAGR | 4.7% | 4.0% | N/A | 5.7% |
| Avg Rent | $2,693 | $2,991 | N/A | - |
| Cap Rate | 1.7% | 2.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 91104 (Pasadena, CA). Anonymous, moderated, never written by AI.
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Property managers serving Los Angeles County
Manage rentals here? List your business →A Better Property Management Company Inc. provides property management services in Long Beach, Seal Beach, and Southern California. summary from their website
ACF Property Management leases shopping center spaces nationwide, managing over 37 shopping centers in 11 states from California to Florida. summary from their website
summary from their website summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,228,636 |
| Monthly Rent | $2,693 |
| Price-to-Rent | 38.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.6% |
| Cap Rate | 1.7% |
| 5-Year IRR | 6.4% |
📈 Home Appreciation
| 1-Year | +2.5% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | -2.1% ▼ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +6.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 91104
Population: 35,595
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 91104
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Charles W. Eliot Middle
Aveson Global Leadership Academy
CIS Academy
Octavia E. Butler Magnet
Willard Elementary
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 6,629 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Does Pasadena, CA favor landlords or tenants?
For rental operators, Pasadena, CA rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
What is the tenant pool like in Pasadena, CA?
Working renters make up the core of the Pasadena, CA tenant base. The pool is reasonable for investors targeting long-term holds.
Is real estate in Pasadena, CA a good investment right now?
Our data puts Pasadena, CA at 3.0/5 for investability. Home prices of $1.2M and rents around $2,693/mo create a solid backdrop for investor activity.
Is Pasadena, CA good for house hacking?
Pasadena, CA offers a tougher house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $2,693/mo rent level.
What is the median home value in Pasadena, CA?
Pasadena, CA median home values land near $1.2M. That is reasonable territory for investors looking at $2,693/mo-per-month rentals.
You know 91104 now. You don’t know where it ranks.
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How 91104 ranks in Los Angeles-Long Beach-Anaheim, CA
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