Zip 07503 (Paterson, NJ) Housing

Housing in 07503 Paterson, NJ is a great investment. According to the given context, the median value of housing in Paterson is $406,700 which is considerably higher than the US House Median Value of $338,100. The trend of house appreciation in Paterson over the past year has been 8.22%, which is only slightly lower than the US 1 year House Appreciation rate of 8.27%. This makes 07503 Paterson a great place to invest in housing for those looking for a sound return on their investment.

The median home cost in Paterson (zip 07503) is $406,700. Home appreciation the last 10 years has been 62.6%. Home Appreciation in Paterson (zip 07503) is up 10.8%.

Average Age of Homes

- The median age of Paterson (zip 07503) real estate is 63 years old

The Rental Market in Paterson (zip 07503)

- Renters make up 63.3% of the Paterson (zip 07503) population
- 0.7% of houses and apartments in Paterson (zip 07503), 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
	6,435.0	139,647,020.0
	65	42
	$406,700	$338,100
	10.8%	16.6%
	36.0%	57.0%
	62.6%	101.1%
	$32.15	$10.98
	$8,733	$2,690
	29.3%	57.4%
	5.4%	11.2%
	65.3%	31.4%
Vacant Housing
	0.7%	1.9%
	0.0%	0.4%
	0.0%	0.7%
	0.0%	0.4%
	0.0%	3.6%
	4.7%	4.1%
Value of Owner-Occupied Housing
	2.2%	2.6%
	0.5%	2.4%
	3.7%	2.8%
	0.0%	3.9%
	0.0%	4.5%
	10.0%	11.3%
	9.9%	13.0%
	40.3%	20.1%
	20.9%	13.6%
	9.1%	8.3%
	1.4%	9.7%
	1.0%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	1.1%	1.1%
Housing Units by Year Structure Built
	0.2%	0.2%
	3.6%	13.6%
	3.6%	13.6%
	3.5%	13.6%
	11.5%	13.2%
	7.3%	14.8%
	3.5%	13.6%
	25.6%	10.0%
	14.9%	4.7%
	19.7%	12.2%

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