The story of this market
The typical home in ZIP 07014 sells for about $541,017, or $285 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 $2,525 a month.
ZIP 07014 — Clifton
The Paterson housing market in 07514 shows steady price appreciation of 4.6% year-over-year, supported by consistent demand despite a high renter share. While inventory remains tight, the market is balanced by a moderate pace of sales and stable interest from both local buyers and investors.
This ZIP is well-suited for commuters seeking proximity to NYC, first-time homebuyers looking for entry-level pricing, and investors navigating a high-demand, tenant-heavy rental market.
Median prices moved up 4.6% year over year.
Homes spend a median of 32 days on market with 3.4 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 12.3% · poverty 7.2% — 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 9.2%/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 07514, Passaic County NJ
Paterson experiences crime rates that are generally higher than the national average, with localized variations across neighborhoods. Law enforcement continues to focus on community-based safety initiatives to address regional trends.
Public schools in the area are part of the Paterson Public Schools district, which faces ongoing challenges regarding academic performance and resource allocation compared to suburban districts in Passaic County.
The area is subject to standard regional flood risks associated with the Passaic River basin, requiring residents to maintain appropriate flood insurance coverage.
Economic momentum is driven by local manufacturing, healthcare, and retail sectors, with ongoing efforts to revitalize urban infrastructure and attract small business investment.
Property taxes in Paterson are among the highest in New Jersey, driven by municipal and school district levies; the city utilizes a standard ad valorem assessment system managed by the Passaic County Board of Taxation.
Residents benefit from proximity to major transit corridors including I-80 and Route 19, with NJ Transit bus and rail services providing access to the New York City employment core.
The area features access to the historic Paterson Great Falls National Historical Park and several local community parks, with diverse shopping and dining options concentrated along major commercial corridors.
The rental market is characterized by high demand and a significant renter population, with vacancy rates around 9.5% and a tenant-protective regulatory environment.
The local economy is anchored by healthcare, education, and manufacturing, with a diverse workforce supporting regional commerce.
The area is served by an extensive network of NJ Transit bus routes and is located near major highway interchanges, facilitating regional connectivity.
Ongoing urban renewal initiatives focus on mixed-use development and the rehabilitation of historic properties to stimulate local economic growth.
The Passaic County Board of Taxation oversees the assessment process, ensuring uniform valuation across the city's diverse residential and commercial parcels.
Parcels are subject to municipal, county, and school district taxes, with specific utility districts managing water and sewer services.
Property insurance premiums are influenced by regional hazard profiles, including flood risk zones near the Passaic River.
Data retrieved from US Census Bureau ACS 2020-2024 profiles for Paterson city and ZCTA 07514.
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.
A major landmark and natural attraction featuring a massive waterfall.
Historic site offering cultural and historical exhibits.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.