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City Report · NJ

Paterson

Pop. 158,735·163rd most expensive in New Jersey·Rental market data updated monthly for Paterson, NJ
Median rent (all units)
$1,941/mo
Year-over-Year
-2.5%
Month-over-Month
+0.3%
vs US Median
-$24
Stable (Monthly)
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Most AffordableMost Expensive
Paterson · $1,941
More expensive than 56% of US cities · National median $1,965/mo
Rent Reality Score
67/100
Good value
OverheatedFairGreat value

Rents are 9% below what Paterson's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$1,941/mo
Expected by trend
$2,127/mo
The Rent Reality Score compares today's median rent to where Paterson's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,305
1 BR
$1,513
2 BR
$1,738
3 BR
$2,138
4 BR+
$2,703
Research median
$1,738/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$23,292/yr
At $1,941/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (-2.5% YoY, +0.3% MoM), not inventory.
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Demographics

Who lives here

Paterson, NJ is majority renter-occupied, has a large share of families with children, has a median income below the national average, 11.8% of residents hold a bachelor's degree or higher.

Population
158,735
Median income
$55,997
Median age
33.3
Renters
73.1%
Age distribution
27.7%
24.5%
24.7%
12.2%
Under 1827.7%
18–3424.5%
35–5424.7%
55–6410.9%
65+12.2%
Gender
49.2%
50.8%
Male49.2%
Female50.8%
Race & ethnicity
22.6%
64.5%
White10.9%
Black22.6%
Hispanic64.5%
Asian4.2%
Education (25+)
25.8%
40.7%
21.7%
No HS diploma25.8%
HS diploma40.7%
Some college21.7%
Bachelor's+11.8%
Housing tenure
26.9%
73.1%
Owner26.9%
Renter73.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How Paterson, NJ has changed in 5 years

Rent
$1,620 → $1,941
up 19.8%
Income
$48,540 → $55,997
up 15.4%
Population
157,927 → 158,735
up 0.5%
Renter share
73.8% → 73.1%
-0.7 pts
Bachelor's+
12.5% → 11.8%
-0.7 pts

Five years ago, renters in Paterson, NJ paid around $1,620 a month. That figure now sits near $1,941, up 19.8% from the 2022 baseline. Local incomes tracked alongside that move, going from a median of $48,540 in 2021 to $55,997 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Paterson, NJ market of 2022.

Community

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View Paterson rent history (2015–2026) →
Salary vs rent

Can you afford rent in Paterson on your salary?

At $1,941/mo, how Paterson rent compares to typical pay (30% rule).

By apartment size

Paterson rent by bedroom count

Median rent for each apartment size in Paterson. Click any size for full breakdown.

Local insights

Tips for renters in Paterson

About renting in Paterson, NJ

Last updated: July 20, 2026

The median rent in Paterson is $1,941/mo as of July 2026. A studio apartment averages $1,305/mo while a 2-bedroom runs $1,738/mo. One-bedroom apartments average $1,513/mo and 3-bedroom units go for $2,138/mo.

At 42% of local median household income ($55,997/yr), Paterson ranks as moderate compared to the national benchmark of 30%. Rents have decreased 2.5% over the past year.

FAQ

Frequently asked questions

Is Paterson an affordable city for renters?

Paterson is considered stretched for renters. At $1,941/mo, rent takes approximately 42% of the local median household income ($55,997/yr). The standard benchmark is 30%. Paterson significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Paterson?

To keep rent at or below 30% of gross income, you would need to earn at least $78,000/year (~$38/hour full-time) to afford the median rent of $1,941/mo in Paterson. The local median household income is $55,997/yr, meaning the typical Paterson household falls short of that threshold.

Is rent going up or down in Paterson?

Rent in Paterson has decreased 2.5% over the past year as of July 2026, offering some relief compared to 12 months ago.

Which Paterson neighborhoods have the lowest rent?

The most affordable ZIP codes in Paterson are 07501 ($1,804/mo), 07524 ($1,911/mo), and 07522 ($2,226/mo). Citywide, the median rent in Paterson is $1,941/mo.

How does Paterson rent compare to other cities in New Jersey?

Paterson is one of the more affordable cities in New Jersey for rent, ranking #163 out of 180 tracked cities at $1,941/mo.

What percentage of Paterson residents rent vs. own?

According to Census data, approximately 73.1% of Paterson households are renters, while 26.9% are owner-occupied. With a majority renter population, Paterson has a strong rental market.

How does Paterson rent compare to the national average?

Paterson's median rent of $1,941/mo is $24 (1%) below the US national median of $1,965/mo. Within New Jersey, it ranks #163 out of 180 tracked cities.
Income Affordability
42%
STRETCHED

At $1,941/mo, rent takes ~42% of Paterson's median household income ($55,997/yr). The standard benchmark is 30%.

Paterson 42%Benchmark 30%
State income tax1.4–10.75%
Run the Paterson affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Paterson, NJ

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