Real Estate Investing in Paterson, New Jersey (07513)
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Should you buy in 07513 (Paterson, NJ)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 25.6 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Paterson, NJ (07513)?
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Market Analysis: 07513 Paterson
Investors eyeing 07513 need to respect the fundamentals at play. Home values of $588K come alongside slower price movement and elevated management overhead.
The investment case in 07513 is robust only for operators who understand what they are buying. A $588K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
From an investor standpoint, 07513 offers a low basis, the region around Paterson has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 07513 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Paterson:
Market Trends
Home Value History (with trend line)
📊 How Does 07513 Compare?
| Metric | 07513 | Paterson | New Jersey |
|---|---|---|---|
| Home Value | $587,806 | $483,794 | $559,826 |
| 5-Year CAGR | 5.8% | 6.6% | 8.4% |
| Avg Rent | $1,917 | $2,025 | - |
| Cap Rate | 2.5% | 2.9% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 07513 (Paterson, NJ). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $587,806 |
| Monthly Rent | $1,917 |
| Price-to-Rent | 25.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +6.6% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +9.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 07513
Population: 10,961
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 07513
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Abraham Lincoln School #6
Charles J. Riley/ School 9
Christopher Columbus School #8
Dr. Hani Awadallah School
Edward W. Kilpatrick
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 9,928 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Does house hacking make sense in Paterson, NJ?
Paterson, NJ offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,917/mo rent level.
How strong is tenant demand in Paterson, NJ?
Paterson, NJ offers a consistent renter base at the $1,917/mo rent level. Tenant turnover is reasonable for well-managed properties.
Is Paterson, NJ a friendly market for rental owners?
NJ ranks as a tenant-protective state for landlord-tenant law. Paterson generally follows the statewide framework, so landlords face reasonable operating rules.
How much is rent in Paterson, NJ?
Expect rents around $1,917/mo per month in Paterson, NJ. With home values at $588K, the yield math works out to reasonable levels for rental investors.
How much does a house cost in Paterson, NJ?
Typical homes in Paterson, NJ go for around $588K. The 5-year CAGR of 0.0% predictable price movement.
You know 07513 now. You don’t know where it ranks.
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