Paterson, New Jersey is a part of the Passaic County Submarket submarket area, and contains 14 zip codes, including: 07510, 07501, 07524, 07504, 07522, and 07543.
The 2019 average effective rent for Class A, B, and C apartments in the Paterson, 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 Paterson, NJ was 3.60%.
The total population of the city of Paterson, NJ has decreased 0.39% since 2010. As of 2018, the population was 145,627. The median household income of the Paterson was $39,282, which is 34.85% lower than the national average.