ZIP Code · NJ

ZIP 07503

Part of Paterson, NJ

Pop. 19,170·Passaic County·159th most expensive ZIP in New Jersey

Median rent (all units)

$2,149/mo

Year-over-Year

Stable

Month-over-Month

+2.1%

vs US Median

+$217

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 07503 · $2,149

More expensive than 68% of US ZIP codes · National median $1,932/mo

Rent check

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,620

1 BR

$1,850

2 BR

$2,120

3 BR

$2,590

4 BR+

$3,300

Research median

$2,120/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: October 17, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($60,443) is $1,511 a month. That is less than HUD's Fair Market Rent for a studio ($1,620).

Rank in Paterson

4th cheapest of 4 ZIP codes in Paterson.

Cheaper nearby

ZIP 07501, 1 mile away, rents for 16% less ($1,796/mo), about $4,200 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 07503. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$25,788/yr

At $2,149/mo median

Location

CityPaterson

StateNJ

CountyPassaic County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+0.0% YoY, +2.1% MoM), not inventory.

Demographics

Who lives here

ZIP 07503 (Paterson, NJ) is majority renter-occupied, has a large share of families with children, has a median income below the national average, 17.4% of residents hold a bachelor's degree or higher.

Population

19,170

Median income

$60,443

Median age

31.6

Renters

73.2%

Age distribution

28.1%

26.2%

25.5%

Under 1828.1%

18–3426.2%

35–5425.5%

55–6410.3%

65+9.9%

Gender

48.5%

51.5%

Male48.5%

Female51.5%

Race & ethnicity

34.2%

58.2%

White34.2%

Black8.9%

Hispanic58.2%

Education (25+)

23.1%

37.9%

21.6%

17.4%

No HS diploma23.1%

HS diploma37.9%

Some college21.6%

Bachelor's+17.4%

Housing tenure

26.8%

73.2%

Owner26.8%

Renter73.2%

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

2021 vs 2026

How ZIP 07503 in Paterson, NJ has changed in 5 years

Income

$56,645 → $60,443

up 6.7%

Population

19,365 → 19,170

down 1.0%

Renter share

69% → 73.2%

+4.2 pts

Bachelor's+

13.6% → 17.4%

+3.8 pts

Median age

35.7 → 31.6

-4.1 yrs

Median household income grew from $56,645 to $60,443 between 2021 and 2024, a 6.7% shift. Headcount in the area went from 19,365 to 19,170 between 2021 and 2024, a 1.0% change. About 73.2% of households rent today, against 69% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 13.6% to 17.4%.

Community

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Local insights

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About renting in ZIP 07503

Last updated: October 17, 2026

ZIP code 07503 covers Paterson, NJ. The median rent here is $2,149/mo as of October 2026. A 1-bedroom rents for a median of $1,850/mo. A 2-bedroom rents for a median of $2,120/mo.

At 43% of local median household income ($60,443/yr), ZIP 07503 ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 07503?

To keep rent at or below 30% of gross income, you would need to earn at least $86,000/year (about $41/hour full-time) to afford the median rent of $2,149/mo in ZIP 07503. The local median household income is $60,443/yr, so the typical household falls short of that bar.