Real Estate Investing in Paterson, New Jersey (07524)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07524 (Paterson, NJ)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
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.
- Elevated poverty: 21.8% poverty rate — can affect rent collection.
What’s happening in Paterson, NJ (07524)?
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Market Analysis: 07524 Paterson
Not every below-median market is a bargain. Paterson's 07524 ZIP reflects signals that favor experienced operators who can absorb the risk $535K pricing implies.
For an experienced owner, 07524 can be a a strong candidate for hunting ground — but the discount at $535K reflects genuine risk that outside investors often underestimate.
Regionally, 07524 sits on the difficult end of the NJ spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
Demographically, 07524 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategy in 07524 is an operator game, not a passive one. In practical terms, entry prices of $535K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Paterson:
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07524 Compare?
| Metric | 07524 | Paterson | New Jersey |
|---|---|---|---|
| Home Value | $535,481 | $483,794 | $559,826 |
| 5-Year CAGR | 5.9% | 6.6% | 8.4% |
| Avg Rent | $1,911 | $2,025 | - |
| Cap Rate | 2.8% | 2.9% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 07524 (Paterson, NJ). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $535,481 |
| Monthly Rent | $1,911 |
| Price-to-Rent | 23.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +4.0% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +9.2% ▲ |
🏠 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 (2.8%). 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 07524
Population: 14,676
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 07524
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Charles J. Riley/ School 9
Dr. Hani Awadallah School
Dr. Martin Luther King Jr. Educational Complex
Edward W. Kilpatrick
Gantner Avenue School
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
How high is vacancy risk in Paterson, NJ?
Vacancy risk in Paterson, NJ is elevated. That supports steady cash flow for typical rental holds.
What kind of tenants rent in Paterson, NJ?
Tenant quality in Paterson, NJ ranks as solid. Landlords generally report reliable occupancy at market rents of $1,911/mo.
Is Paterson, NJ a good place for real estate investing?
Yes - Paterson, NJ a 3.0/5 investability score. With $535K home prices against $1,911/mo monthly rent, the market delivers a reasonable entry point for new investors.
How do home values compare in Paterson, NJ?
Homes in Paterson, NJ typically sell near $535K. Prices have moved at a 0.0% 5-year CAGR, which even-keeled long-term demand.
Are rents high in Paterson, NJ?
Paterson, NJ rentals go for roughly $1,911/mo a month. That puts gross yield in solid territory relative to $535K acquisition costs.
You know 07524 now. You don’t know where it ranks.
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How 07524 ranks in New York-Newark-Jersey City, NY-NJ-PA
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