Paterson is a city in New Jersey state in USA with a population of 145484 residents..
The poverty rate of Paterson is 25.2%, which is 80% higher than national average.
The typical household in Paterson earns $45141 a year, compared to the national median of $67,500.
Financial hardship is relatively common in the city as 1 in every 4 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 9 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 54.3% of households earn less than $50,000 a year compared to 39% national rate.
The unemployment rate of Paterson remained 7.4%, which is 57% higher than national rate. Nearly 2 times comparable to 4.7% national rate, according to the Census.
Cost of living in Paterson is 116, which is 16% higher than national average.
In Paterson, only 11% of adults have a bachelor's degree and 21% have some college but no degree.
Median home value in Paterson is $257700 , which is 12% higher than national average.
While median income in Paterson remained $45141, which is 33% lower than national average.