What's The Median Home Price In Pasadena MD?
In the city of Pasadena, MD live many young families, most of them with small children. Home prices are important when it comes to moving somewhere new. Pasadena, MD has a certain small-town flair to it with people knowing each other and actively contributing together within the community. Something that you don’t find in large cities like Baltimore. Many young families with children come here specifically for that tight sense of community as it’s a good place to live and raise a family in.
Safety is another reason why many people move to Pasadena, MD instead of the metropolitan areas around it. If you want to become a resident of this small town we highly suggest you to get in touch with one of our real estate agents in Pasadena MD. Choosing where to live in this town depends on what kind of housing or neighborhood you are interested in but let’s see more about the options.
Housing market in Pasadena, MD
With around 31,000 residents, the housing market in Pasadena, MD is mostly single-family homes with a few condominiums in the Brookfield neighborhood. When looking at the statistics, the numbers show a big discrepancy between the types of housing, and it also paints a picture of how life looks in Pasadena, MD. With around 68% of housing being detached family homes, there is little left for any other type of housing. The second most common type of housing is attached-family homes with over 24%. You can find condos in residential developments of 10 to 19 units but only around 4% of all housing is like that and around 2% are high rise condominiums having 20 to 49 units per building.
The median house value is $330,000 and you also have the option of finding waterfront homes for sale in Pasadena, MD. The median rent price is $1,850 at the moment but very few residents are interested in renting with less than 17% deciding against owning their home. However, the appreciation rates are much lower than those of the state or of the nation, averaging at 0.78% per year in the last ten years. Things seem to be looking up at the moment as during the last twelve months the home appreciation rates have reached 3.6%. This is still lower than the national average but the increase is nonetheless welcomed.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
Housing where affirmative action is proactively pursued protecting the housing rights of people of all races, nationalities, and religions. ...
Fee payable because of late payment. For example, a mortgagor is assessed a $30 late charge by the bank for not paying the mortgage payment when due. ...
A four-unit building with four tenants in a condominium type of ownership and management. ...
Method of appraising real estate based on the market comparison of neighboring properties having similar characteristics. Seeks to answer the question: What would it cost to substitute a ...
Value that a speculator believes an investment will reach at some point in the future. ...
Substance or material used at the top of a chimney at the roof to inhibit the development of moisture and to protect the metal. ...
Loan service charge; each point equals 1% of the amount of the total mortgage loan, which must be paid up front when a home is purchased. It is a one-time, immediate charge that increases ...
Depressed, poorly kept locality that may include vacant businesses. It may be a high crime area. The people living in the area are typically poor and there may also be homeless people. ...
The term straight note in real estate is also known as a promissory note. A straight note is defined as a loan agreement that generally requires payments of interest only over the term of ...
Have a question or comment?
We're here to help.