ZIP Code 07055

ZIP code 07055, centered on Paterson, sits in working-class to middle-income territory, with a median household income of $55,371 and per-capita income of $24,489. Home values average $429,900, and the county-level effective property tax rate of 2.18% means owners here face a notably heavy annual tax bill tied to that valuation. Add a combined sales tax of 6.62%, and the overall tax load weighs firmly on households earning around the median. This is a community where incomes trail the state's, yet property taxes and purchase costs demand a substantial share of what residents bring in.