Cheap Apartments for Rent in Paterson, NJ from $700 (168 Rentals)

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Search the lowest-cost Apartments available for rent right now in Paterson.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 185 Governor St

$1,636

Total Monthly Price

Total Monthly Price

Base Rent
$1,636
Total Monthly Price
$1,636

Studio, 1 Bath Condo for Rent

Available Now

185 Governor St, Unit Studio

185 Governor St
PatersonNJ07501
property at 38 Mill St

$1,650 - $1,850

1 To 2 Bedroom Rentals

Available Now

38 Mill St

PatersonNJ07501

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 34 Auburn St

$1,718

Total Monthly Price

Total Monthly Price

Base Rent
$1,718
Total Monthly Price
$1,718

1 Bedroom, 1 Bath Condo for Rent

Available Now

34 Auburn St, Unit 1 bedroom

34 Auburn St
PatersonNJ07501

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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161 16th Ave, Unit 2
$1,795
Total Monthly Price

Total Monthly Price

Base Rent
$1,795
Total Monthly Price
$1,795
2 Bedroom Apartment Available Now

161 16th Ave, Unit 2

161 16th AvePaterson, NJ 07501
Affordability
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property at 354 Hamilton Ave

$1,800

Total Monthly Price

Total Monthly Price

Base Rent
$1,800
Total Monthly Price
$1,800

1 Bedroom, 1 Bath Condo for Rent

Available Now

354 Hamilton Ave, Unit 1 bedroom

354 Hamilton Ave
PatersonNJ07501

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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property at 441 Summer St

$1,800 - $2,200

2 To 3 Bedroom Rentals

Available Now

441 Summer St

PatersonNJ07501

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Paterson, NJ Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Paterson, NJ

Pricing Updated: 08/07/2026

Current apartment rentals in the Paterson, NJ area range in price from $750 to $4,800 with an overall median price of $2,141. The three Paterson neighborhoods with the lowest median rent pricing are Eastside at $1,900, Stoney Road at $1,922, and Great Falls at $1,942. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Paterson Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Eastside$1,900$1,27557
Stoney Road$1,922$1,27559
Great Falls$1,942$1,27552
Sandy Hill$1,950$1,27566
Wrigley Park$1,950$75083
Riverside$2,100$75026
Hillcrest$2,112$750100
Downtown Paterson$2,137$1,35028
Old Great Falls Historic District$2,170$1,35012
Peoples Park$2,200$1,27560

Cheapest Available Paterson Apartments for Rent

 

The cheapest available apartment rental in Paterson, NJ is a Studio unit found at 324,339 and 431 Broadway in the Stoney Road neighborhood priced from $1,275. Hospital Plaza in the Stoney Road neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,550. Here is today’s list of the most affordable Paterson apartments for rent:

Apartment ListingModel NameBed/BathPriced From
324,339 and 431 Broadway431 BroadwayStudio,1BA$1,275
Hospital PlazaA11BR,1BA$1,550
Mill Street SquareOne Bedroom/1 bath (Grandparents Raising Grandchil1BR,1BA$1,626
Valley View ApartmentsType A1BR,1BA$1,673
Fairlawn Properties3.5 Room 1 Bedroom1BR,1BA$1,695
118 East 24th St Apartments1 Bd/ 1 Ba1BR,1BA$1,700
Kent VillageA11BR,1BA$1,750

Best Value Apartments for Rent in Paterson, NJ

As of August 07, 2026 the best value apartment in the Paterson area is the $0.68 price per square foot 454 E 36th St Model at 454 E 36th St, Unit Estudio in the in the Lakeview neighborhood starting from $1,350. The second greatest value Paterson apartment is the Two Bedroom Model at Sunset Ridge at Totowa starting at $2,850 with a $1.73 price per square foot in the Totowa neighborhood. Here is today’s list of the best values for Paterson apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
454 E 36th St, Unit Estudio454 E 36th St1BR,1BA$0.68
Sunset Ridge at TotowaTwo Bedroom2BR,2BA$1.73
441 E 27th St, Unit 2nd Fl441 E 27th St3BR,1BA$1.73
77 Madison Ave, Unit 1st FL77 Madison Ave3BR,1BA$1.77
72 Van Winkle Ave, Unit 272 Van Winkle Ave2BR,1BA$1.46
24 Don Bosco Ave, Unit #224 Don Bosco Ave2BR,1BA$1.89
415 Hamilton Ave, Unit 1415 Hamilton Ave3BR,1BA$1.74
417 Straight St, Unit Large Bright 3BR Apartmen417 Straight St3BR,1BA$1.77
74 Plauderville Ave, Unit 374 Plauderville Ave1BR,1BA$1.80
118 East 24th St Apartments1 Bd/ 1 Ba1BR,1BA$1.84

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Paterson Overview

The largest city in Passaic County and the third most populated in the entire great state of New Jersey, Paterson is a popular Garden State destination that acts as home to almost 150,000 proud residents. Known as 'Silk City' for its long history as a production hub of industry, this blue collar and diverse hot spot is an excellent way to get to experience first hand all that NJ has to offer.

Why live in Paterson, NJ?

Steeped in history, Paterson apartment life is a fantastic way to get to know New Jersey. Brimming with east coast pride and offering much in the way of local arts, entertainment and shopping, this hotspot of diversity contains just about every walk of life when it comes to its budding population, from retirees to college students, career-centered working singles to growing blue collar families. When it comes to life in the Garden State, it doesn't get much more authentic than Paterson.

Paterson, NJ
Population: 145,627

Ranked #181

in US Census Population by City

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Pet Friendly Lifestyle

Ranked #

Among cities in New Jersey for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

Pet Friendly

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Best Local Schools in
Paterson, NJ

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Paterson, NJ Rentals by Map

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Frequently Asked Questions about Cheap Paterson Apartments

What is a cheap apartment in Paterson?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Paterson is under $1,750.

What is the price of a cheap apartment in Paterson?

The cheapest apartment in Paterson is 324,339 and 431 Broadway which is listed at $1,400, while the average apartment in Paterson costs $2,141.

What types of apartments are the cheapest in Paterson?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 39 regular apartments in Paterson that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Paterson?

Cheap apartments in Paterson have an average cost of $257 which is $1,884 cheaper than the average rent for all rentals in Paterson.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.