Housing costs in Paterson?
A typical home costs
$404,100, which is 19.5% more expensive than the national average of
$338,100 and 6.5% less expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Paterson costs
$1,530 per month, which is 10.5% cheaper than the national average of
$1,710 and 41.8% cheaper than the state average of
$2,170.
Can I afford Paterson?
To live comfortably in Paterson (zip 07514), New Jersey, a minimum annual income of
$77,400 for a family, and
$52,800 for a single person is recommended.
What does A.I. say about Paterson?
The cost of living in 07514 Paterson, NJ is fairly affordable. The median home price is around $162,400 and the median household income is just over $29,000. The average rent for a one-bedroom apartment is just under $1,000 per month and the average utility bill for a two-bedroom apartment is around $150 per month. Additionally, there are numerous public transportation options available to help residents save on commuting costs. With its affordability and convenient location near New York City, 07514 Paterson, NJ is an attractive place to live.