Median rent is 18% lower in Paterson ($1,457/mo vs $1,779/mo). Buying is cheaper in Paterson, where the median home runs $335,400 versus $751,700. Households earn more in New York ($79,713 vs $53,766 a year).
City A
New York, NY
City B
Paterson, NJ
How much would you need to earn in Paterson, NJ to maintain your standard of living from New York, NY?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
New York
New York
Paterson
New Jersey
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Paterson at $1,457/mo compared to $1,779/mo in New York (18% gap). Home buyers face a steeper market in New York: the median home is $751,700 versus $335,400 in Paterson — 55% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
New York's top income tax rate is 10.90% versus 10.75% in New Jersey, so Paterson is more tax-friendly for high earners. Sales tax is 4.00% in New York and 6.63% in New Jersey; New York has the lower rate (local add-ons may apply in both).
New York
Income tax: 10.90%
Sales tax: 4.00%
Paterson
Income tax: 10.75%
Sales tax: 6.63%
Both cities have similar air quality: New York averages 61.0 AQI (Moderate) and Paterson averages 61.0 AQI (Moderate).
Pick New York if you prioritize higher median household income ($79,713/yr).
Pick Paterson if you prioritize cheaper rent ($1,457/mo median).
Pick Paterson if you prioritize lower state income tax (10.75%).
Is New York cheaper than Paterson?
Cost of living index data is not yet available for one or both cities.
How much is rent in New York vs Paterson?
Median rent is $1,779/mo in New York, NY and $1,457/mo in Paterson, NJ. Paterson, NJ has the lower rent by about 18%.
Which has higher salaries — New York or Paterson?
Median household income is $79,713 in New York, NY and $53,766 in Paterson, NJ. New York, NY has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Paterson, NJ has better air quality on average: 61.0 AQI versus 61.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — New York or Paterson?
New York's top income tax rate is 10.90% and New Jersey's is 10.75%. Paterson, NJ has the lower rate.
What salary do I need in Paterson to match my New York income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology