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Paterson city, NJ

ZIP 07524 — Housing & Real Estate

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

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 07524

Median Home Value
$360,200
Median Rent
$1,205
Affordability Snapshot
$99,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,314/mo PITI).

29%
Rent-to-Income Ratio

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

7.2x
Home Price-to-Income Ratio

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

24.9 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 07524 in Paterson city, NJ, a household would need roughly $99,000 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 $2,314. That is about 98% above the local median household income ($50,033), 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
21.7%-67% vs US avg
x
Vacancy Rate
5.3%-48% vs US avg
x
Broadband Access
90.8%+4% vs US avg
x
4+ Bedrooms
1.8%-88% vs US avg
x
Built Pre-1939
10.9%-15% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
30.7%-38% vs US avg
x
Mortgage-Free
34.3%-10% vs US avg
x
$360,200
Home Value
$1,205
Rent
1938
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

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

  • 1-unit detached8.7%
  • 1-unit attached4.5%
  • 2-9 units79.1%
  • 10+ units7.4%
  • Mobile home & other0.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$360,200
Median rent$1,205
Owner-occupied21.7%
Vacant5.3%
Price-to-income7.2x
Est. income to buy$99,000