Paterson, NJ Relocation Guide (2026)
Cost of living, housing, and income data for Paterson, sourced from the US Census Bureau.
Salary needed to live in Paterson →
Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.
Paterson, New Jersey is home to roughly 157,864 residents. The typical household here earns $52,092 a year — below the median we track across cities (-28%).
Anyone weighing a move to Paterson should know the median home value is $314,100, roughly in line with the multi-city median (-4%), and median rent runs $1,392 per month. Current mortgage rates and local property taxes both affect the real math of buying versus renting.
Buying a typical home in Paterson would take about 6.0 years of median household income — a high multiple that points to real affordability pressure. Home prices near Paterson have jumped 6.76% over the past year — a fast-moving market that can squeeze buyers on timing. FEMA's National Risk Index puts Paterson at Relatively High for overall natural-hazard risk, a factor that can push home insurance costs up.
Personal Affordability Check
Renting at $1,392/mo in Paterson would take 32.1% of your income.
$90/mo over the 30% guideline.
Buying the median home ($314,100) would take 38.6% of your income toward principal & interest.
$461/mo over the 28% guideline.
Cost of housing in Paterson
Median home value is $314,100 and median gross rent is $1,392/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.
FHFA's county-level home price index for Passaic rose 6.76% over the past year (as of 2025).
HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $2,324/month.
Climate & home insurance
FEMA rates Paterson's overall natural-hazard risk as Relatively High. Risk level is a major driver of home insurance premiums.
Safety
Paterson reported a violent crime rate of 869.4 per 100,000 residents in 2025, per FBI data.
Moving to Paterson
Planning a move to Paterson? Compare licensed movers and get quotes based on your origin and move date.
Frequently asked questions
- What is the cost of living in Paterson, NJ?
- The US Census Bureau ACS 5-Year (2022) puts Paterson's median home value at $314,100, median rent at $1,392/month, and median household income at $52,092.
- How much do you need to earn to live comfortably in Paterson?
- A common guideline is that rent should stay under 30% of gross income. With median rent at $1,392/month in Paterson, that implies an income of about $55,680 to keep housing affordable. See the full salary breakdown (renting and buying) for Paterson.
- Is it better to rent or buy in Paterson?
- With a median home value of $314,100 and median rent of $1,392/month, renting comfortably in Paterson takes about $55,680/year (the 30% guideline), while buying at the median price takes roughly $71,864/year in principal-and-interest alone (assumes 20% down, a 30-year fixed loan, and current mortgage rates). The right call depends on how long you plan to stay and your down payment.
- Is Paterson safe?
- FBI data puts Paterson's violent crime rate at 869.4 per 100,000 residents for 2025 — a useful benchmark alongside other cities you're weighing.
See the full salary breakdown for Paterson →
Cities with a similar cost of living
Matched on median rent and household income within 15% of Paterson's.