Paterson, NJ Housing

The housing in Paterson, NJ is quite affordable compared to the national median value of $338,100. The median value in Paterson is $391,600 which is significantly lower than the US median value. The appreciation rate for houses in Paterson has closely followed the nation's 1 year appreciation rate at 8.22%, compared to 8.27% nationally. This indicates that the housing market in Paterson remains strong and healthy despite its affordability relative to other parts of the country.

The median home cost in Paterson is $391,600. Home appreciation the last 10 years has been 62.6%. Home Appreciation in Paterson is up 10.8%.

Average Age of Homes

- The median age of Paterson real estate is 62 years old

The Rental Market in Paterson

- Renters make up 64.7% of the Paterson population
- 1.6% of houses and apartments in Paterson, are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Paterson, New Jersey	United States
	52,859.0	139,647,020.0
	70	42
	$391,600	$338,100
	10.8%	16.6%
	36.0%	57.0%
	62.6%	101.1%
	$32.30	$10.98
	$8,696	$2,690
	24.7%	57.4%
	6.0%	11.2%
	69.4%	31.4%
Vacant Housing
	1.6%	1.9%
	0.2%	0.4%
	0.3%	0.7%
	0.2%	0.4%
	0.1%	3.6%
	3.7%	4.1%
Value of Owner-Occupied Housing
	2.2%	2.6%
	1.4%	2.4%
	1.7%	2.8%
	0.7%	3.9%
	1.6%	4.5%
	5.7%	11.3%
	10.8%	13.0%
	39.2%	20.1%
	26.4%	13.6%
	7.4%	8.3%
	1.4%	9.7%
	0.7%	3.9%
	0.4%	2.2%
	0.1%	0.8%
	0.2%	1.1%
Housing Units by Year Structure Built
	0.1%	0.2%
	4.8%	13.6%
	4.8%	13.6%
	6.4%	13.6%
	4.5%	13.2%
	9.2%	14.8%
	6.4%	13.6%
	15.0%	10.0%
	13.1%	4.7%
	34.8%	12.2%