Surrounding submarket Area
Passaic, New Jersey is a part of the Passaic County Submarket submarket area, and contains zip code 7055.
Passaic Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Passaic, NJ submarket area was $1,503, which is 12.16% lower than 2014 average rent. This represents a compounded annual growth rate of 2.32%. 2019 vacancy in Passaic, NJ was 3.60%.
The total population of the city of Passaic, NJ has grown 0.24% since 2010. As of 2018, the population was 69,948. The median household income of the Passaic was $36,226, which is 39.92% lower than the national average.
- submarket area Passaic County Submarket
- avg rent $1,503
- rent growth 12.16%
- vacancy 3.60%
- median income $36,226
- population (2018) 69,948
- population growth 0.24%
- vs. nat'l avg 39.92%
- zip code 7055