The rental market in Paterson, NJ has seen a steady increase in demand over the past few years as the city continues to experience positive economic growth. Paterson offers a variety of rental options, from affordable studio apartments to higher-end luxury apartments and townhomes. The city also features a wide range of neighborhoods, from the more affluent southern neighborhoods to the less expensive northern neighborhoods.
Paterson is home to a number of excellent schools, including Paterson Public Schools, Passaic County Technical Institute, and William Paterson University. These schools offer a quality education for students of all ages, and the city also offers a number of private and charter schools. Paterson is also home to a number of colleges and universities, including Rutgers University and Montclair State University.
The average rent for a one-bedroom apartment in Paterson is around $1,200, with two-bedroom apartments typically renting for $1,500. The rental prices vary greatly depending on the neighborhood, with some neighborhoods offering lower prices than others. For example, the Upper Broadway neighborhood offers some of the most affordable rental prices in the city.
When it comes to safety, Paterson has a relatively low crime rate. However, the city has seen an increase in violent
The average rental prices of an apartment, townhouse, condo, loft, and single family home in Paterson, NJ are as follows:
Apartment: $1,518
Townhouse: $1,983
Condo: $1,732
Loft: $1,462
Single Family Home: $2,068
Rental prices in Paterson, NJ have increased significantly over the last five years. According to rental data from Zillow, the median rent in Paterson was $1,587 in 2016, and rose to $1,912 in 2021. That represents an increase of 20.7% in five years.
The median rental price for 1-bedroom apartments in Paterson, NJ is $1,200, for 2-bedroom apartments it is $1,500, and for 3-bedroom apartments it is $1,800.
Paterson, NJ is one of the most diverse school districts in the United States. Over 80% of the student population is made up of minorities, with the majority being Hispanic and Black. In comparison, the national average for student diversity is just over 50%. The district is also below the national average in terms of per pupil spending, with a total expenditure of $17,890 compared to the national average of $12,616. Additionally, the district's graduation rate is slightly higher than the national average at 82.4% compared to 81.4%.
1. Downtown
2. South Paterson
3. Stoney Road
4. Great Falls
5. Eastside Park
1. Eastside Park
2. Totowa
3. The Great Falls Historic District
4. Stoney Road
5. Prospect Park