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Paterson city, NJ

ZIP 07504 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 07504

Median Home Value
$369,600
Median Rent
$1,220
Affordability Snapshot
$102,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,374/mo PITI).

22%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

5.5x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

25.2 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 07504 in Paterson city, NJ, a household would need roughly $102,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,374. That is about 52% above the local median household income ($67,269), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
38.3%-41% vs US avg
x
Vacancy Rate
3.9%-62% vs US avg
x
Broadband Access
93.0%+7% vs US avg
x
4+ Bedrooms
6.4%-57% vs US avg
x
Built Pre-1939
9.5%-26% vs US avg
x
Built Post-2014
1.1%-84% vs US avg
x
Rent Burden >30%
29.6%-40% vs US avg
x
Mortgage-Free
27.0%-29% vs US avg
x
$369,600
Home Value
$1,220
Rent
1938
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached29.0%
  • 1-unit attached3.0%
  • 2-9 units61.5%
  • 10+ units6.4%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$369,600
Median rent$1,220
Owner-occupied38.3%
Vacant3.9%
Price-to-income5.5x
Est. income to buy$102,000