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 Paterson, NJ rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 44 of 440
328 UNION AVE
Rent To Own
Wood Ridge
Single Family Home
Wood Ridge, NJ 07075
4
2
2450 ft2
1946
366 BLACK OAK RIDGE RD
Rent To Own
 
Single Family Home
Wayne, NJ 07470
3
2
1808 ft2
1940
1 of 24 26 Clinton Street Unit 1A
Rent To Own
 
Multifamily (2 - 4 Units)
Belleville, NJ 07109
1
1
0 ft2
1970
6010 Boulevard E #64
Rent To Own
West New York
Single Family Home
West New York, NJ 07093
2
2
1535 ft2
241 W 108TH ST #4C
Rent To Own
Upper West Side
Townhouse/Condo
New York, NY 10025
1
1
750 ft2
1911
20 LEXINGTON HL #10
Rent To Own
Kips Bay
Townhouse/Condo
Harriman, NY 10926
2
2
960 ft2
1985
1 of 44 202 Shearwater Ct W
Rent To Own
Port Liberté
Single Family Home
Jersey City, NJ 07305
2
3
1565 ft2
1988
1 of 26 225 E 34TH ST
Rent To Own
Murray Hill
Townhouse/Condo
New York, NY 10016
2
2
1110 ft2
2007
343 E 74th St PENTHOUSE 1D
Rent To Own
Upper East Side
Single Family Home
New York, NY 10021
3
4
1862 ft2
1987
30A W Roselle Ave #A
Rent To Own
Roselle Park
Single Family Home
Roselle Park, NJ 07204
2
1
0 ft2
1945
57 FRONT ST #704
Rent To Own
DUMBO
Townhouse/Condo
Brooklyn, NY 11201
2
2
1132 ft2
1899
1 of 5 100 Clarewood Drive
Rent To Own
South Ardsley
Multifamily (2 - 4 Units)
Hastings-On-Hudson, NY 10706
1
1
776 ft2
1925
New
268 BAY RIDGE AVE
Rent To Own
Bay Ridge and Fort Hamilton
Townhouse/Condo
Brooklyn, NY 11220
2
2
1384 ft2
2015
73-12 35th Ave #C6
Rent To Own
Northwestern Queens
Single Family Home
Jackson Heights, NY 11372
2
1
938 ft2
1940
6928 5th Ave #3
Rent To Own
Bay Ridge and Fort Hamilton
Single Family Home
Brooklyn, NY 11209
3
1
1100 ft2
9411 Shore Rd APT 5
Rent To Own
Bay Ridge and Fort Hamilton
Single Family Home
Brooklyn, NY 11209
2
1
1200 ft2
1960
Hot
1734 60TH ST
Rent To Own
Borough Park
Single Family Home
Brooklyn, NY 11204
3
2
2414 ft2
1905
Hot
663 LENOX RD
Rent To Own
East Flatbush
Single Family Home
Brooklyn, NY 11203
3
2
1160 ft2
1920
24 OAKLAND AVE
Rent To Own
North Side
Single Family Home
Mount Vernon, NY 10552
4
4
2000 ft2
1930
726 E 45TH ST
Rent To Own
East Flatbush
Single Family Home
Brooklyn, NY 11203
3
2
1600 ft2
1920
1 of 39 140 AVENUE O
Rent To Own
Bensonhurst
Townhouse/Condo
Brooklyn, NY 11204
2
2
807 ft2
2011
1 of 12 1916 Ocean Ave, #10
Rent To Own
Midwood
Multifamily (2 - 4 Units)
Brooklyn, NY 11230
2
2
1151 ft2
2017
2131 Ocean Ave PH 7B
Rent To Own
Sheepshead Bay
Single Family Home
Brooklyn, NY 11229
3
3
1705 ft2
2019
2761 BATH AVE #3D
Rent To Own
Southern Brooklyn
Townhouse/Condo
Brooklyn, NY 11214
3
3
1153 ft2
1988
Hot
1 LYNNWOOD RD
Rent To Own
North Potters New Dover
Single Family Home
Edison, NJ 08820
3
3
2241 ft2
1968
141-24 78th Avenue Avenue UNIT 2B
Rent To Own
Kew Garden Hills
Single Family Home
Flushing, NY 11367
3
1
0 ft2
1942
1 of 37 80 MCEWEN ST
Rent To Own
 
Single Family Home
Warwick, NY 10990
2
1
1008 ft2
1915
32 HOWELL AVE
Rent To Own
Fords
Single Family Home
Fords, NJ 08863
4
1
1368 ft2
1945
239 ALBERT ST
Rent To Own
North Plainfield
Single Family Home
North Plainfield, NJ 07063
5
3
2400 ft2
1952
1807 RIDGEVIEW CT
Rent To Own
Sayreville
Townhouse/Condo
Parlin, NJ 08859
3
2
1382 ft2
1997
60 WAACKAACK AVE
Rent To Own
 
Single Family Home
Keansburg, NJ 07734
4
3
941 ft2
2022
Hot
1 of 15 6 HIGHLAND AVE
Rent To Own
 
Single Family Home
Piscataway, NJ 08854
5
4
3270 ft2
1985
17 BUCKNELL WAY
Rent To Own
 
Single Family Home
Hopatcong, NJ 07843
2
2
604 ft2
1940
22 Lighthouse Point Rd
Rent To Own
 
Single Family Home
Highlands, NJ 07732
3
4
2227 ft2
2017
1 of 10 1401 44TH ST
Rent To Own
Meadowview
Single Family Home
North Bergen, NJ 07047
3
4
2012 ft2
2006
1 of 14 264 E 1ST ST
Rent to Own Eligible
Lakeview
Single Family Home
Clifton, NJ 07011
4
2
1134 ft2
1922
1 of 19 397 N 9TH ST
Rent to Own Eligible
Prospect Park
Single Family Home
Prospect Park, NJ 07508
3
1
1020 ft2
1921
New
2 Parkside Ter
Rent to Own Eligible
Woodland Park
Single Family Home
Woodland Park, NJ 07424
2
2
1441 ft2
1992
New
1 of 30 375 Rifle Camp Rd
Rent to Own Eligible
Woodland Park
Townhouse/Condo
Woodland Park, NJ 07424
1
1
909 ft2
2002
80 N 16TH ST
Rent to Own Eligible
Prospect Park
Single Family Home
Prospect Park, NJ 07508
6
2
2568 ft2
1929
1 of 17 331 GETTY AVE
Rent to Own Eligible
South Paterson
Single Family Home
Paterson, NJ 07503
4
2
2152 ft2
3 Parkside Ter
Rent to Own Eligible
Woodland Park
Townhouse/Condo
Woodland Park, NJ 07424
2
2
1441 ft2
1992
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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 2024 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 2024 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.