324,339 and 431 Broadway
324 Broadway,
Paterson, NJ 07501
Studio - 1 Bed | $1,150 - $1,435
Rental Market Trends in Paterson, NJ
What is the average rent in Paterson, NJ?
$1,412/month
Average Rent
514 Sq Ft
Average Apartment Size
+2.5%
Increase in the Last Year
As of June 2025, the average rent in Paterson, NJ is $1,412 per month. For comparison, the national average rent price in the US is currently $1,628/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 $1,063 per month for a studio, $1,412 for a one-bedroom apartment, and around $1,869 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,137 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 $36 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 June 2025
Legend
2024
2025
Rent Ranges in Paterson, NJ
Last Updated June 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
2%
Below $700/month
11%
$700 - $1,000/month
36%
$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, South Paterson is the most affordable neighborhood in Paterson.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Paterson?
Based on current rent prices, South Paterson is the most expensive neighborhood in Paterson.
Neighborhood
Average Rent
Average Sq Ft
Which Paterson neighborhoods have the most rentals available?
The neighborhood in Paterson with the most apartments available is South 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 $1,412, you’ll want to make about $4,706 per month or $56,472 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
$1,550/month
$1,550/month
One Bedroom
$1,517/month
$1,517/month
Two Bedroom
$2,513/month
$2,513/month
Three Bedroom
-
-
Nearby City Rent Trends
Apartment communities in Paterson we think you'll love
Property Management Companies in Paterson, NJ
Garden Communities
-
71
Communities
-
20,720
Units
-
47
Cities
2 Communities in Paterson
Willow Bridge
-
703
Communities
-
191,211
Units
-
327
Cities
1 Community in Paterson
Morgan Properties
-
325
Communities
-
97,635
Units
-
199
Cities
1 Community in Paterson
Winn Companies
-
132
Communities
-
28,395
Units
-
91
Cities
1 Community in Paterson
Pennrose Management Company
-
53
Communities
-
6,463
Units
-
38
Cities
1 Community in Paterson
Affiliated Management, Inc.
-
32
Communities
-
3,612
Units
-
27
Cities
1 Community in Paterson
Platinum Realty Management
-
23
Communities
-
5,640
Units
-
18
Cities
1 Community in Paterson
Capodagli Property Co.
-
31
Communities
-
4,582
Units
-
18
Cities
1 Community in Paterson
Learn More with Helpful Articles
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
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.