Paterson, NJ Rental Market Trends
What is the average rent in Paterson?
The average rent for an apartment in Paterson is $1,560. The cost of rent varies depending on several factors, including location, size, and quality.
Average Rent in Paterson, NJ
| Average Rent | Average Apartment Size |
|---|---|
| $1,560 | 724 sq. ft. |
What is the average apartment size in Paterson?
The average size for a Paterson, NJ apartment is 724 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Paterson, NJ Apartment Rent Ranges
Paterson, NJ Occupied Housing Units
11,959 or 26% of the households in Paterson, NJ are renter-occupied while 33,668 or 73% are owner-occupied.
Paterson, NJ Rent Trends
| Average Rent | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Mar / 2021 | Jul / 2021 | Nov / 2021 | May / 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
| Paterson, NJ | $1,212 | $1,242 | $1,244 | $1,342 | $1,367 | $1,404 | $1,395 | $1,414 | $1,452 | $1,560 |
| National | $1,367 | $1,399 | $1,407 | $1,409 | $1,399 | $1,403 | $1,412 | $1,495 | $1,591 | $1,628 |
Average Rent in Paterson, NJ By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Paterson Lakeview | $1,722 |
| Peoples Park | $1,722 |
| Manor | $1,640 |
| Riverside | $1,640 |
| South Paterson | $1,628 |
| Eastside Paterson | $1,607 |
| Downtown Paterson | $1,559 |
| Stoney Road | $1,559 |
| Wrigley Park | $1,559 |
| Northside Paterson | $1,523 |
| Totowa | $1,513 |
| Eastside Park | $1,489 |
| Hillcrest | $1,424 |
What are the most affordable neighborhoods in Paterson?
The most affordable neighborhoods in Paterson are Hillcrest, where the average rent goes for $1,424/month, Eastside Park, where renters pay $1,489/mo on average, and Totowa, where the average rent goes for $1,513/mo. If you’re looking for other great deals, check out the listings from Northside Paterson ($1,523), Downtown Paterson ($1,559), and Stoney Road ($1,559), where the asking prices are below the average Paterson rent of $1,560/mo.
What are the most expensive neighborhoods in Paterson?
The most expensive neighborhoods in Paterson are Riverside ($1,640), Paterson Lakeview ($1,722) and Peoples Park ($1,722).
What are the most popular neighborhoods in Paterson?
The most popular neighborhood in Paterson is Eastside Paterson, where there are 2 verified RentCafe listings with an average rent of $1,607. Next up is Paterson Lakeview, where apartments go for $1,722/month, followed by South Paterson with $1,628 If you’re looking to rent in Paterson’s most popular neighborhoods, make sure to also check out Stoney Road, where renters pay $1,559 on average, and Totowa, where the average monthly rent is $1,513.
Paterson | Rent Comparison by Neighborhood
Rent in Downtown Paterson is 5% higher than in Eastside Park
Downtown Paterson rent is 1% lower than Paterson average
| Average Rent | $1,559 |
|---|
Eastside Park rent is 5% lower than Paterson average
| Average Rent | $1,489 |
|---|
How Paterson Compares to Other Cities
| City | Average Rent |
|---|---|
| New York City | $3,977 |
| Manhattan | $4,265 |
| Bronx | $1,650 |
| Brooklyn | $3,124 |
| Jersey Shore | $1,805 |
| Jersey City | $3,153 |
| Hoboken | $3,739 |
| Stamford | $2,621 |
| Newark | $1,357 |
| Queens | $2,769 |
| East Orange | $1,513 |
| Bloomfield | $1,929 |
| Princeton | $2,834 |
| White Plains | $2,987 |
| Elizabeth | $1,521 |
| Trenton | $1,454 |
| Yonkers | $2,216 |
| Bayonne | $2,223 |
| Camden | $1,147 |
| Montclair | $2,369 |
| Paterson | $1,560 |