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ZIP Code · NJ

ZIP 07503

Part of Paterson, NJ
Pop. 19,170·Passaic County·153rd most expensive ZIP in New Jersey
Median rent (all units)
$2,274/mo
Year-over-Year
Stable
Month-over-Month
+2.7%
vs US Median
+$309
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 07503 · $2,274
More expensive than 72% of US ZIP codes · National median $1,965/mo
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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: July 20, 2026

Annual cost
$27,288/yr
At $2,274/mo median
Location
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, +2.7% 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: July 20, 2026

ZIP code 07503 covers Paterson, NJ. The median rent here is $2,274/mo as of July 2026. A 1-bedroom rents for a median of $1,850/mo. A 2-bedroom rents for a median of $2,120/mo.

At 45% 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 is rent in ZIP code 07503?

As of July 20, 2026, the median monthly rent in ZIP 07503 (Paterson, NJ) is $2,274. This is based on aggregated data from public sources and community submissions.

How does ZIP 07503 rent compare to the US average?

ZIP 07503's median rent of $2,274/mo is $309 (16%) above the US national median of $1,965/mo.

How does ZIP 07503 compare to other ZIPs in New Jersey?

ZIP 07503 is among the more affordable ZIP codes in New Jersey, ranking #153 out of 212 ZIPs at $2,274/mo.

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 $91,000/year (~$44/hour full-time) to afford the median rent of $2,274/mo in ZIP 07503. The local median household income is $60,443/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 07503?

Rent in ZIP 07503 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 07503 an affordable place to rent?

ZIP 07503 is considered stretched for renters. At $2,274/mo, rent takes approximately 45% of the local median household income ($60,443/yr). The standard benchmark is 30%. ZIP 07503 significantly exceeds that threshold, making it challenging for many renters.

What percentage of ZIP 07503 residents rent vs. own?

According to Census data, approximately 73.2% of ZIP 07503 households are renters, while 26.8% are owner-occupied. With a majority renter population, ZIP 07503 has a strong rental market.

How does ZIP 07503 compare to the rest of Paterson?

ZIP 07503 is pricier than Paterson as a whole. At $2,274/mo, it's $333 above the Paterson citywide median of $1,941/mo.

When was rent data for ZIP 07503 last updated?

Rent data for ZIP 07503 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
45%
STRETCHED

At $2,274/mo, rent takes ~45% of ZIP 07503's median household income ($60,443/yr). The standard benchmark is 30%.

ZIP 07503 45%Benchmark 30%
State income tax1.4–10.75%
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Schools nearby

Public schools near ZIP 07503 (Paterson, NJ)

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