The Landings at Riverwalk
300 Riverfront Blvd,
Elmwood Park, NJ 07407
1-2 Beds | $2,172 - 3,865
Rental Market Trends in Paterson, NJ
What is the average rent in Paterson, NJ?
$1,385/month
Average Rent
512 Sq Ft
Average Apartment Size
+2.5%
Increase in the Last Year
As of November 2024, the average rent in Paterson, NJ is $1,385 per month. For comparison, the national average rent price in the US is currently $1,559/month, which means Paterson rent prices are 11% lower than the national average. When you rent an apartment in Paterson, you can expect to pay about $1,055 per month for a studio, $1,385 for a one-bedroom apartment, and around $1,826 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,018 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Paterson, NJ?
In the past year, rent has increased by 2.5%, which averages out to $35 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated November 2024
Legend
2023
2024
Rent Ranges in Paterson, NJ
Last Updated November 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
2%
Below $700/month
12%
$700 - $1,000/month
39%
$1,001 - $1,500/month
31%
$1,501 - $2,000/month
17%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Paterson?
Based on current rent prices, Riverside, Eastside and Downtown Paterson are the most affordable neighborhoods in Paterson.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Paterson?
Based on current rent prices, South Paterson, Hillcrest and Old Great Falls Historic District are the most expensive neighborhoods in Paterson.
Neighborhood
Average Rent
Average Sq Ft
Which Paterson neighborhoods have the most rentals available?
The neighborhoods in Paterson with the most apartments available are Eastside, South Paterson and Downtown Paterson .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Paterson, NJ?
Because the average rent in Paterson is $1,385, you’ll want to make about $4,616 per month or $55,392 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Paterson, NJ compare to other nearby cities and neighborhoods?
Use the tool below to compare Paterson, NJ to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
$1,400/month
One Bedroom
$1,456/month
$1,368/month
Two Bedroom
$2,018/month
$2,464/month
Three Bedroom
$2,326/month
-
Nearby City Rent Trends
Apartment communities in Paterson we think you'll love
Property Management Companies in Paterson, NJ
Garden Communities
-
72
Communities
-
20,842
Units
-
48
Cities
2 Communities in Paterson
Willow Bridge
-
691
Communities
-
188,286
Units
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314
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1 Community in Paterson
Morgan Properties
-
313
Communities
-
94,519
Units
-
191
Cities
1 Community in Paterson
Winn Companies
-
133
Communities
-
28,870
Units
-
93
Cities
1 Community in Paterson
Pennrose Management Company
-
50
Communities
-
6,170
Units
-
36
Cities
1 Community in Paterson
Affiliated Management, Inc.
-
32
Communities
-
3,692
Units
-
27
Cities
1 Community in Paterson
Platinum Realty Management
-
21
Communities
-
5,143
Units
-
16
Cities
1 Community in Paterson
Capodagli Property Co.
-
28
Communities
-
3,836
Units
-
16
Cities
1 Community in Paterson
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.