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  • Pasadena Market Info

    Overview

    Home to the Mars Rover and the annual Rose Bowl Game®, Pasadena is a Southern California destination for high quality retail shopping and entertainment with strong resident and employee demographics. As an employment center with over 16 million sq. ft. office space, Pasadena also boasts a robust tourism and convention business with many cultural institutions and more restaurants per capita than Manhattan (LA Times, 12/16/12). Only minutes from downtown Los Angeles, Pasadena draws patrons from the entire region.

    Click to download Pasadena’s Psychographic Profile as compiled by Buxton 

    Access

    Pasadena is located at the western edge of the San Gabriel Valley and is roughly 30 minutes from Downtown Los Angeles. Accessible via multiple freeways, Pasadena is served by two international airports (LAX and Ontario) and locally by the Bob Hope Airport in Burbank. Pasadena is also easily accessed via the Metro Gold Line light rail system.

    Residents

    Population
    City of Pasadena  136,000
    10 Minute Drive Time 226,602

     


    Age Distribution, 10 minute drive time
    Under 18 23.0%
    18-24 8.0%
    25-24 15.0%
    35-44 15.0%
    45-64 26.0%
    65+ 13.0%

      

    HH Income  0.5 mile 1 mile  3 mil 5 mile  10 min drive time
    Income
    Ave HH Income  $69,715 $79,404 $106,969 $99,521 $103,613
    Median HH Income  $41,642 $52,015 $67,521 $65,740 $65,613

     

    Employment

    With over 15 M square feet of commercial office space, Pasadena is the place of work for more than 110,000 people each workday. 85% of Pasadena’s workforce is imported from as far as 30 miles in all directions according to Metro.

    Employment Sectors

    Management/Professional
    Sales and Office
    Service
    Production, Transportation
    Construction, Maintenance

    Top Employers  

    Caltech - Jet Propulsion Laboratory
    Art Center College of Design
    ATT Bank of America
    Caltech - Campus
    City of Pasadena
    East West Bank
    Green Dot
    Huntington Memorial Hospital
    Kaiser Permanente
    Langham Huntington Hotel
    One West Bank
    Open X
    Parsons Corporation
    Pasadena City College
    Rusnak Pasadena
    Virgin Galactic
    Western Asset Management  

    Housing

    Pasadena offers a variety of housing options in all price ranges; from super-luxury single family homes and in-town condominiums to first time home buyer options. Given the amount of universities within the City, Pasadena tends to have a higher than national rental to ownership ratio at 54.3% to 45.7% with single family housing composing 59% of the housing stock. The Pasadena residential market has been relatively stable and has mostly rebounded from the recent downturn experiencing a nearly 14% increase in sales prices with a $588,800 median housing value. At the point of publication, single family residential homes available ranged from $8M to $315K, while condos ranged from $2.5M to $215K.

    New apartments lease for $3.00 – $3.50 per square foot. 

    Visitors / Conventioneers

    1.8 M visitors attended concerts, parades, sporting events, and other special events, such as the Amgen Tour of California and Gran Fondo.

    2.1 M visitor days, associated with the Pasadena Convention Center, occurred in calendar year 2011 (3.3% over 2010) constituting $475.5 M in business, 6% over the prior year, according to PKF’s 2013 economic impact study.

    Pasadena’s hospitality offerings include all tiers of hotel types and include Hilton, Sheraton, Courtyard Marriot, Westin and Langham Hotel named the named number one in LA by U.S. News + World Report. The Langham also made the 2011 Condé Nast Traveler Gold List of the world's best places to stay.

    Three new hotels are currently under development; the D2 by Dusit at this historic, former Constance Hotel located on Colorado Boulevard near Lake Avenue, a Hyatt Place at Paseo Colorado across from the Pasadena Convention Center and another, yet unnamed, in the former YWCA designed by noted architect Julia Morgan of Hearst Castle fame located in the Civic Center across from Pasadena’s City Hall.

    Education

    Pasadena is home to some of the best educational institutions in the world. The California Institute of Technology (Caltech), rated the world's number one university in the 2012–2013 Times Higher Education global ranking of the top 200 universities, two years in a row.

    Pasadena Polytechnic ranked 51 in the Washington Posts’ most challenging high schools in the nation and Marshall Fundamental Secondary School most challenging in the San Gabriel Valley based on “the total number of Advanced Placement, International Baccalaureate and Advanced International Certificate of Education tests given at a school each year divided by the number of seniors who graduated in May or June.”

    Pasadena Educational Foundation’s partnership with JPL and PUSD connects High School students with work-based learning opportunities and careers in science and engineering.

    Pasadena Unified School District (PUSD) schools have been honored by The Washington Post, U.S. News & World Report and California Business for Education Excellence (CBEE).
     

    Cultural Institutions

    Pasadena is home to many world-class cultural institutions including the Norton Simon and the Huntington Library and Gardens. Pasadena has a long standing relationship with the arts and actively promotes the arts as a community theme contributing to a greater sense of place. Be it fine art, performance, or music, Pasadena has active and successful cultural institutions to satisfy all tastes. 
     

    Retail Districts

    Pasadena contains several unique Retail Districts, the Downtown, East Pasadena and many other neighborhood service commercial corridors, all with exceptional access and demographics.
    Pasadena’s Historic Downtown consists of four individual districts (Old Pasadena, Playhouse, South Lake and Paseo Colorado) that work in conjunction with one another to create an incredible downtown experience from exciting entertainment and nightlife venues to intelligent and creative cultural institutions. Add a mix of diverse dining destinations with a healthy mix of high quality retail offerings and Pasadena is second to none. Retailers within Pasadena’s Downtown include Tiffany and Co., Crate & Barrel, J Crew, Macy’s ArcLight Theaters, Talbots, Ann Taylor and Williams Sonoma.

    One of the unique features of the Downtown is the ease of walkability along awards wining streetscapes amongst Renaissance and Mediterranean architecture by some of California’s renowned architects from the 1920’s and 1930’s.

    East Pasadena on the opposite of town is an equally vibrant retail cluster of larger format and big box retailers, from Best Buy to Nordstrom Rack, Whole Foods and Bed, Bath and Beyond. Currently the eastern terminus of Metro’s Gold Line, East Pasadena is also home to a variety of major Auto Dealers and the A Noise Within, located in the historic Stewart Pharmaceutical Building, all set in an easily accessible, suburban environment.

    Other Interesting Statistics and Facts

    Pasadena has its own Police, Fire, Health Department and Water and Power Utility.

    Pasadena is home to the annual Rose Bowl Game and the Tournament of Roses Parade.

    Pasadena has more restaurants per capita than Manhattan. (Los Angeles Times 12/16/12)

    Pasadena is home to NASA’s Jet Propulsion Laboratory, responsible for the design and deployment of the Mars Rover and Curiosity.

    Pasadena has always been a center for technology and innovation; a place where Einstein studied at Caltech and scientists discover the differing creative and analytical functions of left and right side of the brain.

    Pasadena is regularly featured as a filming location for national commercials, television series and feature films.

    Pasadena boasts having a highly picturesque and walkable downtown. One of the first revitalized in southern California, Pasadena’s downtown is home to historic districts and buildings of national, state and local significance. Situated at the base of the San Gabriel Foothills, the Pasadena skyline is breathtaking and street activity, lively.