The story of this market
The typical home in ZIP 07503 sells for about $453,610, or $250 per square foot.
Prices are up +4.6% from a year ago, so sellers still have some momentum. Homes take about 32 days to sell. HUD's fair market rent for a two-bedroom is $1,677 a month.
ZIP 07503 — Paterson
The Paterson housing market in 07503 is experiencing steady price appreciation, driven by high demand for affordable multi-family housing. While inventory remains tight, the market is seeing a balance between buyer interest and available supply, supported by its proximity to major employment hubs.
This ZIP is well-suited for budget-conscious renters and investors seeking multi-family properties, as well as commuters who prioritize access to regional transit hubs over suburban space.
Median prices moved up 4.6% year over year.
Homes spend a median of 32 days on market with 4.5 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 104% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.4% · poverty 21.0% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 07503, Passaic County NJ
Paterson records a violent crime rate of 979 per 100,000 residents and property crime at 2,351 per 100,000, which is higher than most regional and national averages.
Public schools in the area are part of the Paterson Public Schools district, which faces significant challenges in academic performance and resource allocation compared to suburban neighbors.
The area is subject to standard New Jersey flood and wind risk profiles, with specific low-lying sections near the Passaic River requiring flood insurance.
Economic momentum is driven by local manufacturing, healthcare, and retail sectors, with ongoing urban revitalization efforts focused on the downtown and riverfront areas.
Property taxes are assessed at the municipal level in Passaic County, with high effective rates common across New Jersey due to heavy reliance on local property taxes to fund school districts.
Residents have access to NJ Transit bus lines and proximity to major highways like I-80 and Route 19, providing transit-oriented access to the New York City employment core.
The area features proximity to the Great Falls National Historical Park and various local neighborhood parks, with dense urban shopping and dining corridors along Main Street.
The rental market is characterized by high demand for multi-family units, with a significant share of the housing stock consisting of duplexes and apartments.
The local economy is anchored by healthcare, education, and light manufacturing, with a diverse workforce serving the broader Passaic County region.
The area is served by an extensive network of NJ Transit bus routes and is located near the intersection of major regional highways, facilitating access to Newark and New York City.
Ongoing urban renewal projects focus on the rehabilitation of historic mill buildings into residential and mixed-use spaces.
The Passaic County Board of Taxation oversees the assessment process, which is conducted at the municipal level to determine property values for tax purposes.
Parcels are subject to municipal, county, and school district taxes, with additional assessments for local utility and flood control services.
Property insurance premiums are rising due to regional hazard exposure, particularly regarding flood risks associated with the Passaic River basin.
Data retrieved from data.census.gov ZCTA 07503 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- American Dream4.57.5 mi
- DreamWorks Water Park4.37.6 mi
- Nickelodeon Universe Theme Park4.57.6 mi
- Color Factory NYC4.414.1 mi
- Area 53 - Adventure Park4.517.6 mi
- American Dream4.57.5 mi
- MetLife Stadium4.57.1 mi
- Madison Square Garden4.713.2 mi
- Yankee Stadium4.712.9 mi
- Barclays Center4.517.5 mi
- The Metropolitan Museum of Art4.812.9 mi
- Central Park4.812.7 mi
- American Dream4.57.5 mi
- MetLife Stadium4.57.1 mi
- American Museum of Natural History4.612.4 mi
- The Metropolitan Museum of Art4.812.9 mi
- Rockefeller Center4.713.3 mi
- Empire State Building4.713.5 mi
- The Museum of Modern Art4.613.2 mi
- American Museum of Natural History4.612.4 mi
- Central Park4.812.7 mi
- The High Line4.712.9 mi
- Sheep Meadow4.812.8 mi
- Paterson Great Falls National Historical Park4.51.8 mi
- Branch Brook Park4.68.8 mi
- 21 Golf Range Powered by Toptracer4.58.5 mi
- Rock Spring Golf Club4.210.4 mi
- Skyway Golf Course4.511.8 mi
- Sunset Valley Golf Course4.110 mi
- Upper Montclair Country Club4.63.4 mi
- American Dream4.57.5 mi
- Hudson Yards4.712.7 mi
- Westfield Garden State Plaza4.54.5 mi
- Willowbrook4.45.4 mi
- Nordstrom NYC Flagship4.412.8 mi
- Newark Liberty International Airport3.714.3 mi
- LaGuardia Airport4.116.9 mi
- Westchester County Airport426.2 mi
- Teterboro Airport4.45.6 mi
- North Shore University Hospital Heliport4.625.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major landmark and natural attraction featuring a massive waterfall and historic industrial district.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.