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Real Estate Prices & Overview

Downtown Paterson North median real estate price is $521,378, which is more expensive than 52.0% of the neighborhoods in New Jersey and 71.2% of the neighborhoods in the U.S.

The average rental price in Downtown Paterson North is currently $1,859, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 95.2% of New Jersey neighborhoods.

Downtown Paterson North is a densely urban neighborhood (based on population density) located in Paterson, New Jersey.

Downtown Paterson North real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Downtown Paterson North neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Downtown Paterson North are 4.0%, which is lower than one will find in 73.7% of American neighborhoods. Demand for real estate in Downtown Paterson North is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

One of the unique characteristics of the Downtown Paterson North neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.4% of the neighborhoods in America. The Downtown Paterson North neighborhood also has a greater percentage of children living in poverty (72.6%) than found in 98.8% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

In addition, one of the most interesting things about the Downtown Paterson North neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 54.5% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 97.5% of the neighborhoods in America.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (26.2% ride the bus) than 99.4% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Also, in the Downtown Paterson North neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 12.3% of residents here. This is a higher proportion of walking commuters than we found in 96.1% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Real Estate

96.0% of the real estate in the Downtown Paterson North neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

In addition, one of the really unique and interesting things about the look and setting of the Downtown Paterson North neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 85.0% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.4% of all neighborhoods in America.

Furthermore, the Downtown Paterson North neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 88.4% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Car Ownership

Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Downtown Paterson North neighborhood have a highly unusual car ownership. 30.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.2% of U.S. neighborhoods.

Occupations

There are more people living in the Downtown Paterson North neighborhood employed as sales and service workers (58.8%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Diversity

Did you know that the Downtown Paterson North neighborhood has more Dominican and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 18.5% of this neighborhood's residents have Dominican ancestry and 16.8% have South American ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Downtown Paterson North neighborhood in Paterson are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 99.4% of U.S. neighborhoods. With 72.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.8% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Downtown Paterson North neighborhood, 41.2% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 31.8% of the residents employed. Other residents here are employed in executive, management, and professional occupations (14.1%), and 13.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Downtown Paterson North neighborhood is English, spoken by 53.7% of households. Some people also speak Spanish (43.8%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Downtown Paterson North neighborhood in Paterson, NJ, residents most commonly identify their ethnicity or ancestry as Dominican (18.5%). There are also a number of people of South American ancestry (16.8%), and residents who report Puerto Rican roots (11.4%), and some of the residents are also of Sub-Saharan African ancestry (8.2%), along with some African ancestry residents (8.2%), among others. In addition, 30.1% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Downtown Paterson North neighborhood spend between 15 and 30 minutes commuting one-way to work (49.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (55.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (26.2%) and 12.3% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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