2 Apartments under 500 for rent in Pasadena, TX

Last updated November 18 at 9:11am UTC
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November 2017 Pasadena Rent Report

Welcome to the November 2017 Pasadena Rent Report. In this report, we'll evaluate trends in the Pasadena rental market, including comparisons to cities throughout the metro, state, and nation.

View full Pasadena Rent Report
Rent Report
Pasadena

November 2017 Pasadena Rent Report

Welcome to the November 2017 Pasadena Rent Report. In this report, we'll evaluate trends in the Pasadena rental market, including comparisons to cities throughout the metro, state, and nation.

Pasadena rents increase sharply over the past month

Pasadena rents have increased 0.7% over the past month, but have decreased slightly by 0.3% in comparison to the same time last year. Currently, median rents in Pasadena stand at $800 for a one-bedroom apartment and $980 for a two-bedroom. This is the third straight month that the city has seen rent increases after a decline in July. Pasadena's year-over-year rent growth lags the state average of 2.0%, as well as the national average of 2.7%.

Rents rising across the Houston Metro

While rent prices have decreased in Pasadena over the past year, the rest of the metro is seeing the opposite trend. Rents have risen in 6 of the largest 10 cities in the Houston metro for which we have data. Here's a look at how rents compare across some of the largest cities in the metro.

  • Sugar Land has seen rents fall by 0.9% over the past month, the biggest drop in the metro. It's also the most expensive city in the Houston metro with a two-bedroom median of $1,580.
  • Galveston has seen the fastest rent growth in the metro, with a year-over-year increase of 7.5%. The median two-bedroom there costs $1,130, while one-bedrooms go for $920.
  • Pasadena has the least expensive rents in the Houston metro, with a two-bedroom median of $980; rents grew 0.7% over the past month but fell 0.3% over the past year.

Pasadena rents more affordable than many large cities nationwide

As rents have fallen slightly in Pasadena, many large cities nationwide have seen prices increase, in some cases substantially. Pasadena is also more affordable than most large cities across the country.

  • Other cities across the state have seen rents moderately increase, with Texas as a whole logging rent growth of 2.0% over the past year. For example, rents have grown by 2.6% in Dallas, 1.8% in San Antonio, and 0.9% in Austin.
  • Pasadena's median two-bedroom rent of $980 is below the national average of $1,160. Nationwide, rents have grown by 2.7% over the past year compared to the 0.3% decline in Pasadena.
  • While rents in Pasadena fell slightly over the past year, many cities nationwide saw increases, including Seattle (+4.2%), Phoenix (+4.1%), and Los Angeles (+3.9%).
  • Renters will find more reasonable prices in Pasadena than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is more than three times the price in Pasadena.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Houston $820 $1,010 1.2% 0.0%
Pasadena $800 $980 0.7% -0.3%
Pearland $1,080 $1,320 -0.3% 0.1%
League City $1,220 $1,490 1.3% 2.6%
Sugar Land $1,290 $1,580 -0.9% 0.2%
Baytown $850 $1,040 -0.0% 5.4%
Conroe $860 $1,050 0.6% -1.2%
Spring $1,090 $1,340 0.8% -1.1%
Galveston $920 $1,130 0.4% 7.5%
Stafford $980 $1,200 2.1% -0.5%
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Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.