Foreclosure Homes in Paterson, NJ 07502

Current Market Conditions in Paterson, NJ

Paterson's real estate market has been steadily growing, driven by increasing demand for affordable housing options. With a mix of single-family homes, townhouses, and multi-family buildings, buyers have diverse choices. The city's revitalization efforts have attracted new businesses and residents, fostering a positive outlook for property values in the coming years.

The rental market is also robust, with many individuals choosing to rent due to the proximity to New York City. This has created significant demand for rental units in the area, contributing to a competitive market.

Rent Prices In Paterson, NJ

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Paterson, NJ, is on a rollercoaster ride. The average rent price in Paterson, NJ, is $1,841.00. Indeed, when looking to rent in Paterson, NJ, you can expect to pay as little as $990.00 or as much as $3,720.00, with the average rent median estimated to be $1,860.00. The good news is that finding an affordable and desirable property to rent in Paterson, NJ -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.