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Paterson city, NJ
ZIP 07503 — Economy & Jobs
Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.
Middle ClassLow Snow Area
Income, employment, industries, and economic trends
Income & Economy in Paterson city, NJ (07503)
Median Income
$60,295
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+1,260
Wealth inflow
Population
19,567
Unemployment
7.5%
3.8pp above US avg
IRS migration statistics show a net inflow of about 1,260 for ZIP 07503 (Paterson city, NJ) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.
Historical Trends in 07503 (2020–Present)
Since 2020, population grew 11.6%, median income fell 2.1% (inflation-adjusted), home values increased 2.2%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $60,295 |
| Unemployment | 7.5% |
| Establishments | 548 |
| Employees | 9,842 |