324,339 and 431 Broadway
324 Broadway,
Paterson, NJ 07501
Studio - 2 Beds | $1,300 - $1,675
Rental Market Trends in Paterson, NJ
What is the average rent in Paterson, NJ?
$1,422/month
Average Rent
513 Sq Ft
Average Apartment Size
+2.7%
Increase in the Last Year
As of July 2025, the average rent in Paterson, NJ is $1,422 per month. For comparison, the national average rent price in the US is currently $1,637/month, which means Paterson rent prices are 13% lower than the national average. When you rent an apartment in Paterson, you can expect to pay about $1,069 per month for a studio, $1,422 for a one-bedroom apartment, and around $1,858 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,170 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 2.7%, which averages out to $39 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 July 2025
Legend
2024
2025
Rent Ranges in Paterson, NJ
Last Updated July 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
2%
Below $700/month
12%
$700 - $1,000/month
35%
$1,001 - $1,500/month
28%
$1,501 - $2,000/month
23%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Paterson?
Based on current rent prices, Eastside and South 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 and Eastside" 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 South Paterson and Eastside" .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Paterson, NJ?
Because the average rent in Paterson is $1,422, you’ll want to make about $4,740 per month or $56,880 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
$1,078/month
$1,553/month
One Bedroom
$1,479/month
$1,523/month
Two Bedroom
$1,559/month
$2,524/month
Three Bedroom
$1,745/month
$2,700/month
Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
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.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.