Home Values

07501 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$188,400

  • -8.1% 1-year change
  • -3.6% 1-year forecast

The median home value in 07501 is $188,400. 07501 home values have declined -8.1% over the past year and Zillow predicts they will fall -3.6% within the next year. The median rent price in 07501 is $1,250, which is lower than the Paterson median of $1,300.

Foreclosures will be a factor impacting home values in the next several years. In 07501 9.8 homes are foreclosed (per 10,000). This is greater than the Paterson value of 8.6 and also greater than the national value of 3.8

With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 07501 homeowners underwater on their mortgage is 42.0%, which is higher than Paterson at 38.2%.

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Relative ZHVI
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07501 Market Overview

Data through Jun 30, 2015
  • $188,400 ZHVI
  • -3.6% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Jun 30, 2016)
  • No data Median listing price
  • No recent data Median sale price
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07501 Market Health

Data through Jun 30, 2015
  • 0.1/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 42.0% Homes with negative equity (15.4% US Avg) (Sep 30, 2014)
  • No data Delinquent on mortgage (6.0% US Avg)

Homes foreclosed (per 10,000)

10 07501
9 Paterson
4 United States
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Nearby Zip Codes

Name Median ZHVI
07013 $302,700
07011 $271,100
07504 $219,300
Name Median ZHVI
07513 $210,300
07502 $207,600
07524 $202,200
Name Median ZHVI
07503 $201,100
07514 $200,400
07522 $172,600

Listings & Sales

  • No data
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07501 Rentals

Data through Jun 30, 2015
  • Zillow Rent Index

  • $1,508 07501
    $1,532 Paterson
    $1,369 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 5.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Mar 31, 2015)
  • $1,250 Rent list price
  • $1.25 Rent list price / sq ft
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