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Pasadena CA Real Estate
Pasadena is one of the oldest and best-known cities in Los Angeles County. It sits at the base of the San Gabriel foothills and anchors the collection of cities and towns that spread through this scenic area on either side of it. Pasadena property, especially the tracts above the L.A. Basin in the affluent foothills, is some of the most sought-after in the entire county. Despite the city's cachet, the diversity of its housing stock--including much rental and residential income property--means that many Pasadena homes are far more affordable than similar properties in nearby cities. With an economy focused primarily on technology and higher education, the local economy is stable and thus the supply of Pasadena houses remains in excellent condition over a century after development began here.
History of Pasadena
Founded in 1886 as a health resort, Pasadena quickly grew into a major regional tourist destination thanks to its proximity to Los Angeles, San Francisco and the Pacific Ocean. The first Pasadena homes, some of which remain in existence today as rental properties near the city's college campuses, were tidy vacation bungalows designed to house seasonal visitors. Beginning in 1890, the city's Rose Parade became an annual tradition, drawing thousands of visitors from around the country. Many of these people stayed around and built year-round Pasadena properties along the base of the foothills, establishing an affluent residential community to complement the existing supply of rentals.
World Famous Rose Bowl
The attention that the first Rose Bowl football game brought to the area in 1902 contributed to an early 20th-century Pasadena property boom that saw the city's population grow exponentially in the decades leading up to World War II. Thousands of tourists still visit each year to catch the game and parade, cementing Pasadena's reputation as a football-friendly town.
Like other towns and cities straddling the San Gabriel foothills, Pasadena had outgrown its tourist-town roots by the middle of the 20th century. Today, the city's largest employers are high-technology institutions like NASA's Jet Propulsion Laboratory and California Polytechnic University, or CalTech. Whole tracts of Pasadena houses were built during the 1960s and 70s to supply these campuses with steady labor. Unlike in smaller, more exclusive communities further up the foothills, there are hundreds of Pasadena property rentals on the market at any given time for mobile or transitory residents connected with these institutions.
Pasadena Educational Facilities
Many of the city's most mobile residents are the post-secondary students enrolled in its colleges and universities. CalTech's faculty boasts 32 Nobel prizes, an impressive feat; the Art Center College of Design enrolls thousands of aspiring artists and graphic designers; and Fuller Theological Seminary is by some counts the largest multi-denominational seminary in the United States. Several smaller private colleges, as well as the public Pasadena Community College, serve the area as well. Many graduates of these institutions stay behind to take advantage of the region's incredible job opportunities and purchase Pasadena houses, lending stability to the still-growing city.
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