Paterson, NJ—07505
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Paterson, NJ
Paterson, NJ lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | N/A | N/A |
| Single Family | N/A | N/A |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Paterson, NJ
As of July '25, Rentcast reports the average rent in Paterson, NJ is $1,910, with a year-over-year rent change of 27.3%. Per bedroom, the median rent as of July '25 in Paterson, NJ is studios: $1,400, 1-bedrooms: $1,480, 2-bedrooms: $2,030, 3-bedrooms: $2,680. The most common rental property sizes in Paterson, NJ are 1-bedroom and 3-bedroom, accounting for 57.2% and 16.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,910 |
| Studio Rent | $1,400 | $1,400 |
| 1 Bed Rent | $1,500 | $1,480 |
| 2 Bed Rent | $1,850 | $2,030 |
| 3 Bed Rent | $2,350 | $2,680 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Paterson, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Paterson, NJ is 110. This is a increase of 92.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $290,000 | 41.0% |
Listing Count | 1 | -75.0% |
| Listings as % of Homes | N/A | -75.0% |
Days on Market | 110 | 92.0% |
Demographics — Paterson, NJ
As of the latest ACS Survey released in 2023, Paterson, NJ has a population of 4,620, which has increased by 90.5% over the past 5 years. Paterson, NJ is a moderately popular place for families, as children make up 21.7% of the population. The area has a poorly educated workforce, with 11.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 0.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,620 | 90.5% |
% Under 18 | 21.7% | 39.1% |
% Seniors | 15.5% | 11.5% |
% WFH | 0.0% | -100.0% |
% w/ College Degree | 11.6% | 19.6% |
As of the latest ACS Survey released in 2023, Paterson, NJ is a predominantly hispanic area, with 66.6% of the population identifying as hispanic. The hispanic population has grown by 42.0% in the last 5 years. The second most common race or ethnicity in Paterson, NJ is black, making up 21.5% of the population. Foreign-born residents account for 43.0% of the population in Paterson, NJ, and this percentage has increased by 45.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 10.2% | 21.4% |
% Black | 21.5% | -49.4% |
% Hispanic | 66.6% | 42.0% |
% Asian | 0.4% | -91.8% |
% Foreign Born | 43.0% | 45.8% |
Mortgage and Risk — Paterson, NJ
According to HUD data as of 2023, there were 1 mortgage originations in Paterson, NJ, of which 0.0% of loans were conventional mortgages. The average loan-to-value was 97.0%, with 100.0% above 90% LTV (very high). This implies large mortgage risk in Paterson, NJ. Investor activity is low, as 0.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1 |
% Conventional Loans | 0.0% |
% Government Loans | 100.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Paterson, NJ
Paterson, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 277 |
Total Units Section 8 | 125 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 90.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$240 | $1,500 | $1,260 |
| 2 Bedroom | -$410 | $1,850 | $1,440 |
| 3 Bedroom | -$580 | $2,350 | $1,770 |
| 4 Bedroom | N/A | N/A | $2,240 |
Affordability — Paterson, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | N/A |
| Median Home Price | N/A |
| Median Household Income | $33,300 |