Home Values

Paterson 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

$212,200

  • 4.5% 1-year change
  • 0.5% 1-year forecast

The median home value in Paterson is $212,200. Paterson home values have gone up 4.5% over the past year and Zillow predicts they will rise 0.5% within the next year. The median list price per square foot in Paterson is $90, which is lower than the New York Metro average of $253. The median price of homes currently listed in Paterson is $160,000 while the median price of homes that sold is $160,735. The median rent price in Paterson is $1,250, which is lower than the New York Metro median of $2,400.

Foreclosures will be a factor impacting home values in the next several years. In Paterson 4.3 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 1.4 and also greater than the national value of 3.9

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Paterson is 33.3%, which is higher than the national value of 6.3%. 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 Paterson homeowners underwater on their mortgage is 40.1%, which is higher than New York Metro at 13.1%.

Read more
Relative ZHVI
- +

Paterson Market Overview

Data through Feb 28, 2015
  • $212,200 ZHVI
  • 0.5% 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
    (Feb 29, 2016)
  • $160,000 Median listing price
  • $160,735 Median sale price
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Paterson Market Health

Data through Feb 28, 2015
  • 0.4/10 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
  • 40.1% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 33.3% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

4.3 homes Paterson
1.4 homes New York Metro
3.9 homes United States
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Nearby Cities

Name Median ZHVI
Glen Rock $562,800
North Haledon $384,800
Fair Lawn $355,500
Name Median ZHVI
Woodland Park $330,900
Hawthorne $329,400
Elmwood Park $309,700
Name Median ZHVI
Clifton $287,000
Haledon $239,900
Prospect Park $200,200

Listings & Sales

Data through Feb 28, 2015
  • $90 Median list price / sq ft
  • $95 Median sale price / sq ft
  • 8.3% Listings with price cut
44.8%
Sold below listing
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading

Paterson Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,516 Paterson
    $2,348 New York Metro
    $1,355 United States

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

  • 3.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,250 Rent list price
  • No data Rent list price / sq ft
Your browser doesn't seem to support SVG, this chart cannot be displayed.
View Data Table

We are currently unable to retrieve data matching your current criteria.

loading