Paterson is a moderately-sized city located in the state of New Jersey. The city has a population of 146,894 residents. With a population density of 17,460 people per square mile, Paterson is well above the nation's average density level. More than a quarter of the residents of Paterson identify themselves as Hispanic or Latino, and 54% of the population speak Spanish as their primary or secondary language. If you are a young adult or student, you might be pleased to know that the average age of all Paterson residents is 33. In Paterson, only 48% of people over the age of fifteen are married. This city could be a good option for singles ready to mingle.
Without the right tools, relocating to any new city can be very stressful and challenging. Living in Paterson, New Jersey could be a good experience for anyone who puts in the time to do the research required. Using the livability score which includes data from categories like cost of living, education, employment, housing, you can easily compare the best places to live in Paterson and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare Paterson to New Jersey and the national average.
The livability score in Paterson is 53/100 and the city is ranked in the 4th percentile of all cities across America. This score ranks well below the United States average. With such a low livability score, it might be worth investigating a little further. This score also puts it among the worst 10 percent of cities in all of America. There are seven total categories that create the livability score. Paterson scores well for amenities (A+). There is at least one category that did not score well in Paterson. The following was graded with a less than perfect score: crime (F), cost of living (F), weather (D), education (F), employment (F) and housing (F).
Based on the proximity of local amenities like grocery stores, restaurants, coffee shops, parks, librairies, etc., Paterson has received a higher than average score for its local amenities. If you’re planning on relocating and making this area your permanent home, it’s nice to know that there is an ample amount of amenities and things to do within walking distance or a short drive. Some of the interesting things to do and attractions include: Lambert Castle, Great Falls National Historical Park, and Paterson Museum.
Being close to public transportation, grocery stores, parks and other conveniences are all important when weighing your options for a new home in Paterson. Before you determine if any of these amenities are available in the area, you will also want to know if the real estate prices in Paterson are affordable. Median real estate prices in Paterson come in at $236,000, which is 25.4% lower than the New Jersey average. The home price to income ratio compares the median home prices to the median household income. In Paterson, the home price to income ratio is 6.9, which is 60.5% higher than the New Jersey average. Real estate appreciation rates in Paterson are important to consider, as they can act as a guide to determine if your new home purchase will be a solid investment going forward. During the last twelve months, the appreciation rate for Paterson homes comes in at 21.2%, and the 5 year appreciation rates were 7.4%.
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