07505, Paterson, NJ

The 7505 zip code of Paterson, NJ has a median home value of $92,000 and a median home equity of $27,000. This is lower than the state median home value of $177,500 and the national median home equity of $102,800. The 7505 zip code has a lower home value than all but two zip codes in New Jersey. The only other zip code with a lower home value is 7003 which has a median home value of $81,000.

There are several factors that may contribute to the low home values in the 7505 zip code. One reason may be that Paterson is one of the most crime-ridden cities in New Jersey. According to Forbes, Paterson ranks as one of the ten most dangerous cities in America. This may make it difficult for potential homeowners to sell their homes and raise enough money to buy another property in this area. Additionally, Paterson's economy has been struggling for many years now and there are few jobs available in this area. As a result, many people who would have been able to purchase homes here are instead choosing to live elsewhere or are unable to do so due to their low incomes.

Despite these factors, there are still some homeowners who have been able to purchase homes in the 7505 zip code over the past few years. This suggests that there is potential for prices to increase in this area over time if more people become interested in buying or selling homes here.