Paterson, NJ (07502) is a great place to live with a current estimated population of 147,754. The cost of living here is slightly higher than the US average; 2 bedroom rent in Paterson comes in at $1,650 compared to the US average of $1,430. Grocery costs are indexed at 104 versus 100 in the US, as well. There are several notable local companies such as Hoffmann-La Roche Inc., Stryker Corporation and GAF Materials Corporation. Overall, Paterson offers an affordable way of life with plenty of job opportunities for residents to choose from.
Paterson (zip 07502) has an unemployment rate of 14.8%. The US average is 6.0%.
Paterson (zip 07502) has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 17.9%, which is lower than the US average of 33.5%.
Tax Rates for Paterson (zip 07502)
- The Sales Tax Rate for Paterson (zip 07502) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Paterson (zip 07502) is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Paterson (zip 07502)
- The average income of a Paterson (zip 07502) resident is $21,874 a year. The US average is $28,555 a year.
- The Median household income of a Paterson (zip 07502) resident is $64,653 a year. The US average is $69,021 a year.