Why Live in Downtown Paterson
Downtown Paterson, the historic heart of Paterson, is known for its architectural landmarks like City Hall and the Passaic County Court House. This neighborhood, rooted in America's industrial beginnings, offers residents affordable multi-family housing and a vibrant Latin American culinary scene. With a high Walk Score of 85, Downtown Paterson is a pedestrian-friendly area. The neighborhood is well-connected through NJ Transit Commuter Rail and Bus services, facilitating travel to Manhattan and Newark Liberty International Airport, both 21 miles away. Residents have access to Great Falls National Park, home to one of the nation's largest waterfalls, and Eastside Park, which offers sports facilities and a learning garden. Garrett Mountain Reservation, located just south, features trails and a butterfly garden. The annual Great Falls Festival, held over Labor Day weekend, draws visitors with live music and family-friendly activities. While public schools in the area have mixed ratings, Mary Help of Christians Academy is a highly rated private option. Dining options abound on Main and Market Streets, with popular spots like Main Corner Restaurant and Panchito’s Restaurant. Shopping needs are met at Center City Mall and Price Rite Marketplace. The neighborhood's proximity to highways and employment opportunities, such as St. Joseph’s University Medical Center, adds to its appeal.
Frequently Asked Questions
Is Downtown Paterson a good place to live?
Downtown Paterson is a good place to live. Downtown Paterson is considered very walkable and bikeable with good transit options. Downtown Paterson is an urban core neighborhood. Downtown Paterson has 7 parks for recreational activities. It is very dense in population with 19.0 people per acre and a median age of 38. The average household income is $43,221 which is below the national average. College graduates make up 9.3% of residents. A majority of residents in Downtown Paterson are renters, with 95.2% of residents renting and 4.8% of residents owning their home. A
local real estate agent serving Downtown Paterson can help you decide if this neighborhood is the right one for you. Learn more on our
Downtown Paterson neighborhood guide.
Is Downtown Paterson, NJ a safe neighborhood?
Downtown Paterson, NJ is less safe than the average neighborhood in the United States. It received a crime score of 9 out of 10.
How much do you need to make to afford a house in Downtown Paterson?
The median home price in Downtown Paterson is $349,900. If you put a 20% down payment of $70,000 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $1,810 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $78K a year to afford the median home price in Downtown Paterson. The average household income in Downtown Paterson is $43K.
What are the best public schools in Downtown Paterson?
The best public schools that serve Downtown Paterson are:
What are the best private schools in Downtown Paterson?
The best private schools that serve Downtown Paterson are:
What are the most popular zip codes in Downtown Paterson, Paterson, NJ?
What are the most popular neighborhoods near Downtown Paterson, Paterson, NJ?
Are home prices dropping in Downtown Paterson?
Yes, home prices in Downtown Paterson are down 12% in the last 12 months.
Home Trends in Downtown Paterson, NJ
On average, homes in Downtown Paterson, Paterson sell after 191 days on the market compared to the national average of 70 days. The median sale price for homes in Downtown Paterson, Paterson over the last 12 months is $486,679, up 50% from the median home sale price over the previous 12 months.
Median Sale Price
$486,679
Median Single Family Sale Price
$340,000
Median Townhouse Sale Price
$486,679
Average Price Per Sq Ft
$612
Number of Homes for Sale
1
Last 12 months Home Sales
14
Median List Price
$349,900
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
50%
