The housing market in 07524 Paterson, NJ is doing well compared to the US median value. The median value for this zip code is $384,700 which is significantly higher than the US median value of $338,100. Additionally, the one year house appreciation in Paterson is 8.22%, which is just slightly lower than the national appreciation rate of 8.27%. This indicates a healthy and growing housing market in this area, making it a desirable place to live and invest.
The median home cost in Paterson (zip 07524) is $384,700. Home appreciation the last 10 years has been 62.6%. Home Appreciation in Paterson (zip 07524) is up 10.8%.
Average Age of Homes
- The median age of Paterson (zip 07524) real estate is 65 years old
The Rental Market in Paterson (zip 07524)
- Renters make up 67.0% of the Paterson (zip 07524) population
- 0.5% of houses and apartments in Paterson (zip 07524), 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.