There are currently 18,584 real estate properties in Paterson, NJ, with a median automated valuation model (AVM) price of $458,400.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Paterson, NJ, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Paterson, NJ, is $465,459.00, with the most expensive house in Paterson, NJ, topping out at $9,287,475.00 and the cheapest home in Paterson, NJ, clocking in at $11,600.00. In other words, there’s something for every potential homebuyer or savvy investor in Paterson, NJ!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Paterson, NJ, is on a rollercoaster ride. The average rent price in Paterson, NJ, is $1,848.00. Indeed, when looking to rent in Paterson, NJ, you can expect to pay as little as $990.00 or as much as $3,720.00, with the average rent median estimated to be $1,890.00. The good news is that finding an affordable and desirable property to rent in Paterson, NJ -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
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