Paterson, NJ, zip code 07501 is a city in Passaic County. It has an average two bedroom rent of $1,530, which is slightly higher than the national average of $1,430. The grocery cost index in Paterson is 103 versus 100 in the US. There are many local companies near this area including Red Bull Arena, Stop & Shop Supermarket, and TD Bank. Other notable businesses nearby include Dunkin' Donuts, Applebee's, Verizon Wireless, and New York Sports Club. These businesses offer convenience to residents of Paterson as they provide a variety of services and products that make everyday life easier and more enjoyable for locals.
Paterson (zip 07501) has an unemployment rate of 14.8%. The US average is 6.0%.
Paterson (zip 07501) has seen the job market decrease by -8.3% 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 07501)
- The Sales Tax Rate for Paterson (zip 07501) is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Paterson (zip 07501) 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 07501)
- The average income of a Paterson (zip 07501) resident is $19,736 a year. The US average is $37,638 a year.
- The Median household income of a Paterson (zip 07501) resident is $37,256 a year. The US average is $69,021 a year.