Is Paterson, NJ cheaper than New York, NY?

Based on cost of living data, Paterson, NJ is 35.7% cheaper than New York, NY. This translates to saving $2679 per month.

What salary do I need in Paterson, NJ to live like I do in New York, NY?

If you earn $150,000 in New York, NY, you'd need approximately $117,857.143 in Paterson, NJ to maintain the same standard of living.

How does housing cost compare between New York, NY and Paterson, NJ?

Housing in Paterson, NJ is 70.4% cheaper than in New York, NY. For a two-bedroom apartment, rent is $1,980/month in Paterson, NJ compared to $3,590/month in New York, NY.

How much can I save per month by moving from New York, NY to Paterson, NJ?

Moving from New York, NY to Paterson, NJ could save you approximately $2679 per month, or $32143 per year, based on a $150,000 salary.

New York, NY vs Paterson, NJ: Cost of Living Comparison 2026

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Cost of Living Comparison 2026

Data: HUD rent estimates, BLS cost of living

Current salary in New York, NY

Numbers update automatically as you type

You'd save $2.7K/month moving to Paterson, NJ

$150.0K in your current city equals $117.9K in Paterson, NJ

Rent data from HUD ZIP-level estimates · COL index from New York-Newark-Jersey City, NY-NJ-PA area

Overall Cost

↓ 35.7%

Less expensive

Monthly Impact

$2,679

Savings

Annual Impact

$32.1K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

New York, NY

Population:8337K

Cost Index:

100

100 = national average

Median Home:$1.05M

Paterson, NJ

Population:156K

Cost Index:

(36% below avg)

Median Home:$532K

New York, NY

The Empire State

8.3M

Population

State Tax

Yes

Climate

Humid subtropical

Notable Facts

•Most populous city in the US
•Major global financial center
•World-renowned cultural hub

Major Industries

FinanceReal EstateTechnologyMedia

Paterson, NJ

The Garden State

156K

Population

State Tax

Yes

Located in New Jersey, this city has a population of 156K residents.

Cost Breakdown by Category

Annual spending: New York, NY vs Paterson, NJ

Category	New York, NY	Paterson, NJ	Difference	Change
Housing	$7,648/mo	$2,261/mo	↓ $5,387less	70.4%
Groceries	$1,165/mo	$1,099/mo	↓ $65.95less	5.7%
Other	$2,034/mo	$2,026/mo	↓ $8.37less	0.4%
All Utilities	$600/mo	$596/mo	↓ $4.37less	0.7%
Transportation	$1,602/mo	$1,598/mo	↓ $4.10less	0.3%
Healthcare	$688/mo	$688/mo	→ $0	0.0%

Housing

↓ 70.4%

New York, NY

$7,648

Paterson, NJ

$2,261

Difference

$5,387

less

Groceries

↓ 5.7%

New York, NY

$1,165

Paterson, NJ

$1,099

Difference

$65.95

less

Other

↓ 0.4%

New York, NY

$2,034

Paterson, NJ

$2,026

Difference

$8.37

less

All Utilities

↓ 0.7%

New York, NY

$600

Paterson, NJ

$596

Difference

$4.37

less

Transportation

↓ 0.3%

New York, NY

$1,602

Paterson, NJ

$1,598

Difference

$4.10

less

Healthcare

→ 0.0%

New York, NY

$688

Paterson, NJ

$688

Difference

same

🏛️ Local Income Taxes

New York, NY: NYC Income Tax$5,689/yr (3.8%)

Paterson, NJ has no local income tax.

Local taxes are in addition to state income tax. Not all cities levy local income taxes.

🏠Rent Comparison

Studio

From$3,120

To$1,510

↓ $1,610

1 Bed

From$3,270

To$1,720

↓ $1,550

2 Bed

From$3,590

To$1,980

↓ $1,610

3 Bed

From$4,500

To$2,420

↓ $2,080

New York, NYZIP-level data

1BR range: $2,260–$3,990/mo

Paterson, NJZIP-level data

1BR range: $1,410–$1,860/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$13,737

Monthly in New York, NY

$8,267

Monthly in Paterson, NJ

$5,470

Difference

Home Values

New York

Paterson

$1.05M

Median Value

$532K

↓ -0.1%

YoY Change

↑ +3.7%

↓ -5.9%

5-Year Change

↑ +44.5%

$471K - $3.49M

Price Range

$469K - $567K

Homes in Paterson are 49% less expensive than New York

Calculate payment - New York Calculate payment - Paterson

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $2.1K

Per year

Monthly Difference

$176

More take-home

Effective Rate Diff

1.4%

Rate difference

New York, NY

Federal Income Tax

Effective: 18.9%

$25.5K

New York State Tax

Effective: 6.4%

$9.5K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 31.0%

$46.6K

Take-Home Pay

$8,620/month

$103.4K

Paterson, NJ

Federal Income Tax

Effective: 18.9%

$25.5K

New Jersey State Tax

Effective: 5.0%

$7.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.6%

$44.4K

Take-Home Pay

$8,796/month

$105.6K

Additional Tax Information

New York, NY Tax Rates

Sales Tax:8.8%

Property Tax:1.2%

Paterson, NJ Tax Rates

Sales Tax:6.6%

Property Tax:2.5%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.