The story of this market
The typical home in ZIP 07509 sells for about $449,000, or $308 per square foot.
Prices are up +8.4% from a year ago, so sellers still have some momentum. Homes take about 57 days to sell. HUD's fair market rent for a two-bedroom is $2,150 a month.
ZIP 07509 — Paterson
The Paterson housing market is currently characterized by steady appreciation and high demand for multi-family investment properties. While median prices have risen, the market remains competitive for first-time buyers and investors seeking rental yields. Growth is driven by the adaptive reuse of historic industrial infrastructure.
This area is well-suited for first-time buyers and real estate investors looking for multi-family properties with strong rental yield potential.
Median prices moved up 8.4% year over year.
Homes spend a median of 57 days on market with 0.0 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) — a stable, low-distress profile.
ZCTA 07509, Paterson, NJ
Paterson carries a low livability score of 41/100, with crime rates significantly higher than the national average and regional peers.
School quality is mixed, with various public institutions serving the city; specific ratings vary by individual school performance metrics.
The city is seeing redevelopment of historic mill buildings into residential units, with a focus on multi-family housing to support the local economy.
Property taxes are assessed at the municipal and county level in New Jersey, which generally maintains some of the highest effective property tax rates in the United States.
The area features local parks and historic sites, with proximity to regional shopping corridors and diverse dining options along Main Street.
The rental market is highly active, dominated by multi-family properties with strong investor interest in 3-4 family buildings.
The local economy is supported by a mix of retail, small business, and service-sector employment, with a notable focus on multi-family real estate investment.
Development efforts are currently focused on the conversion of historic industrial properties into residential housing to increase density.
Data sourced from USZipStat and ACS estimates.
- American Dream4.58.7 mi
- DreamWorks Water Park4.38.8 mi
- Nickelodeon Universe Theme Park4.58.8 mi
- Color Factory NYC4.415.3 mi
- Area 53 - Adventure Park4.518.8 mi
- American Dream4.58.7 mi
- MetLife Stadium4.58.3 mi
- Madison Square Garden4.714.4 mi
- Yankee Stadium4.713.9 mi
- Barclays Center4.518.7 mi
- American Dream4.58.7 mi
- MetLife Stadium4.58.3 mi
- Westfield Garden State Plaza4.55 mi
- The Met Cloisters4.812.9 mi
- Essex County Turtle Back Zoo4.611.3 mi
- The Metropolitan Museum of Art4.814.1 mi
- Rockefeller Center4.714.5 mi
- Empire State Building4.714.7 mi
- The Museum of Modern Art4.614.4 mi
- American Museum of Natural History4.613.6 mi
- Paterson Great Falls National Historical Park4.50.6 mi
- Branch Brook Park4.69.6 mi
- Van Saun County Park4.76.7 mi
- Overpeck County Park4.69.6 mi
- Garret Mountain Reservation4.70.7 mi
- 21 Golf Range Powered by Toptracer4.59.6 mi
- Rock Spring Golf Club4.210.8 mi
- Skyway Golf Course4.512.9 mi
- Sunset Valley Golf Course4.18.9 mi
- Upper Montclair Country Club4.64.2 mi
- American Dream4.58.7 mi
- Westfield Garden State Plaza4.55 mi
- Willowbrook4.44.8 mi
- Bergen Town Center4.55.9 mi
- Newark Liberty International Airport3.715.2 mi
- LaGuardia Airport4.118 mi
- Westchester County Airport426.5 mi
- Teterboro Airport4.46.7 mi
- North Shore University Hospital Heliport4.626.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A vibrant district known for Middle Eastern restaurants and diverse retail shops.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.