Cost of Living in Paterson, NJ
Population: 157,660 • 2026 Data
$53,766
Median Household Income
-31% vs national
$1,457
Median Monthly Rent
+8% vs national
$335,400
Median Home Value
-1% vs national
10.2%
Unemployment Rate
Housing in Paterson
The median home value in Paterson, NJ is $335,400. Monthly rent for a typical unit averages $1,457, while total monthly housing costs (including utilities and insurance) average $1,553.
Rent-to-income ratio: 32.5%. This exceeds the recommended 30% threshold, indicating housing costs may be a burden for median-income households.
Income and Employment
The median household income in Paterson, NJ is $53,766. The unemployment rate stands at 10.2%, with a labor force of 75,025 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.