Market Intelligence · NJ / Paterson

Paterson, NJ 07503 Housing Market

Typical home value in Paterson 07503 is $565,637, up 7.6% over the past year. The median list price sits at $318,125, with homes taking a median of 130 days on market as of September 2026.

Updated September 2026Median value$566K

The median home value in Paterson, NJ 07503 is $566K as of September 2026, up 7.6% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 07503 range

$520K to $611K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+7.6% over 12 months

Sep 2025$526K

Low $526KHigh $566K

Sep 2026$566K

The numbers

What is the 07503 housing market like?

As of September 2026

Typical home value

$566K

7.6%YoY

Median list price

$318K

22.3%MoM

Days on market

130

35.4%MoM

Homes for sale

11.1%MoM

Price cuts

0.0%

New listings

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

07503 housing market forecast 2027

+2.9%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 07503 to rise 2.9% by September 2027.

Over the 12 months through September 2026, typical home values in 07503 rose 7.6%, per the Zillow Home Value Index.

Will home prices drop in 07503?

Zillow's forecast does not call for a drop: it expects typical home values in 07503 to rise 2.9% by September 2027, after a 7.6% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 07503 home prices compare?

07503$565,637
Paterson$540,076
New Jersey$575,161
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Paterson: 8 ZIPs; New Jersey: 547 ZIPs; United States: 26,262 ZIPs).

Context

There are 8 homes currently for sale in 07503, with 4 new listings as of September 2026. The median asking price of $318,125 reflects a gap between listed properties and the typical home value of $565,637. At 130 days median time on market, homes are moving slowly. No listings have been reduced in price, even as inventory remains thin. For sellers, the slow pace and gap between asking prices and recent sales activity suggest a cautious market.

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Down payment20% · $113,127

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Common questions

What people ask us.

How much is a home worth in Paterson 07503?

Typical home value is $565,637 as of September 2026, up 7.6% over the past year.

How long do homes take to sell in 07503?

The median days on market is 130 as of September 2026.

How many homes are for sale in Paterson 07503 right now?

There are 8 homes for sale as of September 2026, with 4 new listings.

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