Housing costs in Paterson?
A typical home costs
$459,200, which is 35.8% more expensive than the national average of
$338,100 and 6.3% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Paterson costs
$1,600 per month, which is 6.4% cheaper than the national average of
$1,710 and 35.6% cheaper than the state average of
$2,170.
Can I afford Paterson?
To live comfortably in Paterson (zip 07504), New Jersey, a minimum annual income of
$87,840 for a family, and
$55,200 for a single person is recommended.
What does A.I. say about Paterson?
The cost of living in 07504 Paterson, NJ is relatively high. According to the United States Census Bureau, the median household income in 07504 Paterson is $33,362 and the median housing costs are $1,073 per month. The average price for a home in 07504 Paterson is around $164,000 which is much higher than other areas of New Jersey. Additionally, many goods and services can be quite expensive as well. Grocery items can be costly and restaurant dining can be pricey as well. Public transportation in the area is available but may be limited to certain parts of town. Although living in 07504 Paterson may not be cheap, there are many entertainment options nearby that make it an attractive place to live.