Rent to Own Homes in Paterson, NJ

One of the biggest and busiest cities in northern New Jersey, the densely populated town of Paterson offers plenty of opportunities for any Garden State resident looking for a new place to call home. Christened after one of the state's true heroes, William Paterson, New Jersey's Revolutionary War-era governor, Paterson developed into a thriving industrial town throughout the 19th and 20th centuries. Known particularly for its silk production and firearms manufacturing, it eventually grew into a very diverse, immigrant-heavy town. It provides easy access for commuters into New York City and other towns in northern Jersey and features plenty of fine parks and museums.

Paterson, NJ is a great place for affordable rent-to-own homes! With a median household income of over $45,141 and a median rent of $1,213, the Paterson, NJ rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Paterson, NJ. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.

Check out 300 Paterson, NJ rent to own homes for sale, which may include auction properties, for sale by owner, and more.

Showing 1 - 44 of 300
1 of 24 26 Clinton Street Unit 1a
1 Bed, 1 Bath
Rent To Own
 
Multifamily (2 - 4 Units)
Belleville, NJ 7109
Built in 1970
Hot
1 of 2 6010 Boulevard E #64
2 Beds, 2 Baths
Rent To Own
 
Single Family Home
West New York, NJ 7093
1,535 Sqft
518-536 Gregory Ave #B201
1 Bed, 1 Bath
Rent To Own
 
Townhouse/Condo
Weehawken, NJ 7086
700 Sqft | Built in 1988
1 of 4 10 Huron Ave #1m
1 Bed, 1 Bath
Rent To Own
Journal Square
Townhouse/Condo
Jersey City, NJ 7306
726 Sqft
1 of 5 10 Huron Ave #1n
2 Beds, 1 Bath
Rent To Own
Journal Square
Townhouse/Condo
Jersey City, NJ 7306
1,045 Sqft
1 of 49 568 Communipaw Ave # 203
1 Bed, 1 Bath
Rent To Own
Bergen - Lafayette
Single Family Home
Jc, Journal Square, NJ 7304
662 Sqft
1 of 9 125 West 56th Street 4b # 4b
1 Bed, 1 Bath
Rent To Own
Clinton
Single Family Home
New York, NY 10019
Built in 1923
1 of 11 150 East 77th Street Phcd # Phcd
3 Beds, 2 Baths
Rent To Own
Upper East Side
Multifamily (2 - 4 Units)
New York, NY 10021
Built in 1959
Rent to own homes offer low monthly payments and flexible terms
1 of 9 235 East 55th Street 33c # 33c
1 Bed, 1 Bath
Rent To Own
Midtown East
Single Family Home
New York, NY 10022
Built in 2001
1 of 6 200 East 36th Street 6b # 6b
1 Bed, 1 Bath
Rent To Own
Murray Hill
Multifamily (2 - 4 Units)
New York, NY 10016
Built in 1966
1 of 10 245 East 54th Street 17st # 17st
2 Beds, 2 Baths
Rent To Own
Midtown East
Multifamily (2 - 4 Units)
New York, NY 10022
Built in 1977
1 of 11 245 East 54th Street 9gh # 9gh
3 Beds, 2 Baths
Rent To Own
Midtown East
Multifamily (2 - 4 Units)
New York, NY 10022
Built in 1977
1 of 11 245 East 54th Street 26f # 26f
2 Beds, 2 Baths
Rent To Own
Midtown East
Multifamily (2 - 4 Units)
New York, NY 10022
1,300 Sqft | Built in 1977
New
1 of 9 245 East 54th Street 15l # 15l
1 Bed, 1 Bath
Rent To Own
Midtown East
Multifamily (2 - 4 Units)
New York, NY 10022
Built in 1977
New
1 of 10 245 East 54th Street 3r # 3r
1 Bed, 1 Bath
Rent To Own
Midtown East
Multifamily (2 - 4 Units)
New York, NY 10022
Built in 1977
New
1 of 9 245 East 54th Street 14m # 14m
1 Bed, 1 Bath
Rent To Own
Midtown East
Multifamily (2 - 4 Units)
New York, NY 10022
Built in 1977
1 of 11 303 East 57th Street 19g # 19g
2 Beds, 1.5 Bath
Rent To Own
Midtown East
Multifamily (2 - 4 Units)
New York, NY 10022
Built in 1967
1 of 11 303 East 57th Street 7e # 7e
1 Bed, 1.5 Bath
Rent To Own
Midtown East
Multifamily (2 - 4 Units)
New York, NY 10022
Built in 1967
New
1 of 10 330 East 80th Street 4m # 4m
3 Beds, 3 Baths
Rent To Own
Upper East Side
Multifamily (2 - 4 Units)
New York, NY 10075
Built in 1956
343 E 74th St Penthouse 1d
3 Beds, 4 Baths
Rent To Own
Upper East Side
Single Family Home
New York, NY 10021
1,862 Sqft | Built in 1987
1 of 6 303 E 33rd Street # 2-m
1 Bed, 1 Bath
Rent To Own
Kips Bay
Townhouse/Condo
New York, NY 10016
Built in 2009
1 of 10 345 East 56th Street 5h # 5h
1 Bed, 1 Bath
Rent To Own
Midtown East
Multifamily (2 - 4 Units)
New York, NY 10022
950 Sqft | Built in 1960
New
1 of 9 400 East 56th Street 10e # 10e
2 Beds, 2 Baths
Rent To Own
Sutton Place
Multifamily (2 - 4 Units)
New York, NY 10022
1,009 Sqft | Built in 1968
New
1 of 11 430 East 56th Street 1ab # 1ab
4 Beds, 2 Baths
Rent To Own
Sutton Place
Multifamily (2 - 4 Units)
New York, NY 10022
Built in 1967
1 of 9 433 East 51st Street 9g # 9g
1 Bed, 1 Bath
Rent To Own
Midtown East
Multifamily (2 - 4 Units)
New York, NY 10022
Built in 1936
New
1 of 23 28 Hamilton Ave
2 Beds, 1 Bath
Rent To Own
 
Single Family Home
Sloatsburg, NY 10974
712 Sqft | Built in 1953
30a W Roselle Ave #A
2 Beds, 1 Bath
Rent To Own
 
Single Family Home
Roselle Park, NJ 7204
Built in 1945
1 of 21 360 Furman St. 404
2 Beds, 2 Baths
Rent To Own
 
Single Family Home
Brooklyn, NY 11201
1,562 Sqft | Built in 1928
1 of 5 100 Clarewood Drive
1 Bed, 1 Bath
Rent To Own
 
Multifamily (2 - 4 Units)
Hastings-On-Hudson, NY 10706
776 Sqft | Built in 1925
6928 5th Ave #3
3 Beds, 1 Bath
Rent To Own
Bay Ridge and Fort Hamilton
Single Family Home
Brooklyn, NY 11209
1,100 Sqft
New
9411 Shore Rd Apt 5
2 Beds, 1 Bath
Rent To Own
Bay Ridge and Fort Hamilton
Single Family Home
Brooklyn, NY 11209
1,200 Sqft | Built in 1960
1 of 11 97-45 63 Drive # 7a
2 Beds, 2 Baths
Rent To Own
Rego Park
Townhouse/Condo
Rego Park, NY 11374
1,155 Sqft | Built in 2018
1 of 16 99-31 66 Ave # 2a
2 Beds, 2 Baths
Rent To Own
Forest Hills
Townhouse/Condo
Forest Hills, NY 11375
1 of 12 1916 Ocean Ave, #10
2 Beds, 2 Baths
Rent To Own
Midwood
Multifamily (2 - 4 Units)
Brooklyn, NY 11230
1,151 Sqft | Built in 2017
621 And 623 East 84th Street
10 Beds, 6 Baths
Rent To Own
Canarsie
Single Family Home
Brooklyn, NY 11236
3,168 Sqft | Built in 1960
22 Lighthouse Point Rd
3 Beds, 4 Baths
Rent To Own
 
Townhouse/Condo
Highlands, NJ 7732
2,227 Sqft | Built in 2017
1 of 72 245 Bedford Banksville Rd
3 Beds, 3 Baths
Rent To Own
 
Single Family Home
Bedford, NY 10506
4,594 Sqft | Built in 1800
1 of 2 781 E 18th St # 783
6 Beds, 3 Baths
Rent To Own
Eastside
Multifamily (2 - 4 Units)
Paterson, NJ 7508
2,780 Sqft
Hot
1 of 11 232 Linwood Avenue
4 Beds, 2 Baths
Rent To Own
Hillcrest
Multifamily (2 - 4 Units)
Paterson, NJ 7502
1,382 Sqft | Built in 1955
1 of 22 2o Stanford Ct.
5 Beds, 3 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
Totowa, NJ 7512
2,808 Sqft | Built in 1969
1 of 4 14-14 Apt B Abbot Rd
1 Bed, 1 Bath
Rent To Own
 
Multifamily (2 - 4 Units)
Fair Lawn, NJ 7410
750 Sqft | Built in 1960
1 of 19 0-79, 30th Street
6 Beds, 2.5 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
Fair Lawn, NJ 7410
2,100 Sqft | Built in 1959
1 of 16 Undisclosed
5 Beds, 7 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
Paramus, NJ 7653
14,000 Sqft | Built in 2007
1 of 4 21 Cross St #23
4 Beds, 3 Baths
Rent To Own
 
Multifamily (2 - 4 Units)
Montclair, NJ 7042
Sponsored Link

More Paterson, NJ Property Resources

Rent to Own Homes in Cities Near Paterson, NJ

Browse all rent to own homes in New Jersey

Buying a Home in Paterson, NJ

Paterson, NJ is seeing rapid growth and Paterson, NJ's' housing market remains not optimal with an average home price that is 18% above the 2022 national average. Paterson, NJ is part of Passaic county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2022 for county Passaic is 1.97% which is above the national average, which is 0.99%.

Median Home Price in Paterson, NJ

Median Rent in Paterson, NJ

Rent to own homes offer low monthly payments and flexible terms

Top Reasons to Live in Paterson, NJ

Housing There are plenty of opportunities throughout Paterson for those looking for rent to own houses. Paterson is dominated by renters; 69 percent of the town's homes are renter-occupied. Prices for houses throughout Paterson seem to be trending down, too. For the period between December 2012 and February 2013, the average price on a home dipped to $115,000 (for 20 sales), an almost 40 percent drop from the previous year. Those looking for a new house could take advantage of this dip in the market. The average price for a home in Paterson through the first week in August of 2013 was $195,631 - that's a significant bargain in the very crowded (and very expensive) northern New Jersey market.

Largest Employers and Industries Being a very large and very urban town, city government is one of the town's largest employers, right alongside the nearby St. Joseph's Regional Medical Center. The local university, William Paterson University, is another important part of the local economy. Additionally, the bustling Newark-Liberty Airport is only a few miles away from Paterson, providing plenty of jobs for locals. Other important parts of the Paterson economy include the Accurate Box Company and Marcal Paper Products. Paterson also features plenty of smaller businesses that keep residents employed.

Weather and Climate Paterson offers a typical East Coast climate - hot summers with occasional thunderstorms, cool autumns, cold winters, cool-to-warm springs. The area receives just about the average amount of snow for northern New Jersey (just over two feet a year), seeing about 20 days a year with an inch or more of snow. In total, there's about 76 days a year with significant precipitation - a little bit above average, but pretty normal for the East Coast. Large storms are rare, although the town was adversely affected during Hurricane Irene in 2011, with plenty of flooding and significant damage throughout Paterson. Additionally, those looking for some nature while in Paterson will be in luck. Paterson boasts one of northern New Jersey's finest outdoor attractions in the Paterson Great Falls National Historical Park, which is full of local lore and some great natural sights. There's a small museum along with a jaw-dropping waterfall, perfect for a day trip.

Neighborhoods There are a number of distinct neighborhoods in Paterson, so residents looking to rent homes throughout the town will find plenty of diverse options for settling down. Paterson is split into wards, with each ward featuring plenty of different neighborhoods.

Paterson, NJ Frequently Asked Questions

Paterson, NJ has a walk score of

Paterson, NJ has a bike score of

The state tax rate is 1.4 to 10.75% on top of the federal tax rate of 10 to 37%.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Some data might be from tax-rates.org
Browse Rent-to-Own Locations Below
Browse All Rent to Own Listings