Zip 07502 (Paterson, NJ) Housing

The housing market in 07502 Paterson, NJ is thriving. The median value of a house in the area is $417,000, which is considerably higher than the US median value of $338,100. Furthermore, over the past year there has been an 8.22% appreciation rate for homes in this area, slightly lower than the US average of 8.27%. Therefore, those looking to buy a home in this region will find that they are getting a great deal on their investment.

The median home cost in Paterson (zip 07502) is $417,000. Home appreciation the last 10 years has been 62.6%. Home Appreciation in Paterson (zip 07502) is up 10.8%.

Average Age of Homes

- The median age of Paterson (zip 07502) real estate is 59 years old

The Rental Market in Paterson (zip 07502)

- Renters make up 47.0% of the Paterson (zip 07502) population
- 1.3% of houses and apartments in Paterson (zip 07502), 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
	4,929.0	139,647,020.0
	66	42
	$417,000	$338,100
	10.8%	16.6%
	36.0%	57.0%
	62.6%	101.1%
	$31.81	$10.98
	$8,891	$2,690
	51.2%	57.4%
	2.7%	11.2%
	46.1%	31.4%
Vacant Housing
	1.3%	1.9%
	0.0%	0.4%
	0.0%	0.7%
	0.0%	0.4%
	0.0%	3.6%
	1.5%	4.1%
Value of Owner-Occupied Housing
	2.5%	2.6%
	0.0%	2.4%
	0.0%	2.8%
	1.5%	3.9%
	0.1%	4.5%
	4.7%	11.3%
	6.3%	13.0%
	43.0%	20.1%
	38.6%	13.6%
	2.3%	8.3%
	0.4%	9.7%
	0.7%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	0.7%	13.6%
	0.7%	13.6%
	2.9%	13.6%
	2.7%	13.2%
	14.0%	14.8%
	2.9%	13.6%
	23.2%	10.0%
	10.1%	4.7%
	29.0%	12.2%

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