The story of this market
The typical home in ZIP 07501 sells for about $527,500, or $322 per square foot.
Prices are roughly flat from a year ago (+0.5%), a market in balance. Homes take about 86 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,541 a month.
ZIP 07501 — Paterson
The 07501 housing market shows moderate competitiveness with a median sale price of $527,500 and a slight year-over-year increase. While inventory remains constrained, the market is seeing a healthy sale-to-list ratio, suggesting steady demand despite broader economic headwinds in the area.
This ZIP is suitable for investors and budget-conscious buyers looking for multi-family opportunities, given the high share of duplex and multi-family housing stock.
Median prices moved up 0.5% year over year.
Homes spend a median of 86 days on market with 0.0 months of supply — a slower-moving market.
0% of listings have cut prices · homes sell at 103% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 7.4% · poverty 25.1% — a mixed stability profile.
ZCTA 07501, Passaic County NJ
The average commute for residents in this area is approximately 22.6 minutes.
The area features proximity to urban amenities and local parks within the city of Paterson.
The rental market is active with a median rent of $2,150, though recent trends indicate a slight decline in asking rents.
The local economy is characterized by a mix of service and industrial sectors, with a significant portion of the population facing economic challenges including higher-than-average unemployment and poverty rates.
The area is served by local bus corridors and regional transit infrastructure connecting to the broader New Jersey and New York City employment hubs.
Data sourced from ZipDataPortal and Census Bureau QuickFacts.
- American Dream4.58.6 mi
- DreamWorks Water Park4.38.7 mi
- Nickelodeon Universe Theme Park4.58.7 mi
- Color Factory NYC4.415.2 mi
- Area 53 - Adventure Park4.518.6 mi
- American Dream4.58.6 mi
- MetLife Stadium4.58.2 mi
- Madison Square Garden4.714.2 mi
- Yankee Stadium4.713.6 mi
- Barclays Center4.518.6 mi
- American Dream4.58.6 mi
- MetLife Stadium4.58.2 mi
- Westfield Garden State Plaza4.54.5 mi
- The Met Cloisters4.812.5 mi
- Essex County Turtle Back Zoo4.611.7 mi
- The Metropolitan Museum of Art4.813.8 mi
- Rockefeller Center4.714.2 mi
- Empire State Building4.714.5 mi
- The Museum of Modern Art4.614.1 mi
- American Museum of Natural History4.613.3 mi
- Paterson Great Falls National Historical Park4.51 mi
- Branch Brook Park4.69.8 mi
- Van Saun County Park4.76.2 mi
- Overpeck County Park4.69.2 mi
- Garret Mountain Reservation4.71.1 mi
- 21 Golf Range Powered by Toptracer4.59.3 mi
- Rock Spring Golf Club4.211.2 mi
- Skyway Golf Course4.512.9 mi
- Sunset Valley Golf Course4.19.2 mi
- Upper Montclair Country Club4.64.4 mi
- American Dream4.58.6 mi
- Westfield Garden State Plaza4.54.5 mi
- Willowbrook4.45.3 mi
- Bergen Town Center4.55.4 mi
- Newark Liberty International Airport3.715.4 mi
- LaGuardia Airport4.117.7 mi
- Westchester County Airport426 mi
- Teterboro Airport4.46.4 mi
- North Shore University Hospital Heliport4.625.8 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
A major landmark and national historical site featuring the Great Falls of the Passaic River.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.