Passaic County Multifamily Buyer
Sell Your Commercial Property In Passaic County, NJ
Passaic County runs from the dense cities of Paterson, Passaic, and Clifton in the south to rural Highlands towns in the north. Its rental market is concentrated in older multifamily houses, brick walk-ups, and garden apartments serving a large immigrant and working-class population.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Cities We Cover: Paterson · Clifton · Passaic — County seat: Paterson
Passaic County
Where We Buy In Passaic County
We evaluate apartment buildings of 5+ units across Passaic County — in each city below, plus smaller towns and unincorporated areas countywide.
Local Market Data
Passaic County Apartment Market
Figures gathered October 2026 from public market data.
Anyone planning to sell commercial property in Passaic County, NJ is pricing into a county where renters hold 46.9% of the 178,936 occupied households, per the Census Bureau's 2020-2024 American Community Survey. Median gross rent in Passaic County reached $1,621, up 25.4% from $1,293 in the 2015-2019 period, while median household income climbed 25.6% to $87,522 over the same span.
Paterson, Clifton and Passaic city anchor the county's rental base, with Paterson alone holding 36,441 renter households, 43.4% of the Passaic County total. Units in 5+ unit buildings make up 21.2% of Passaic County's housing stock, and rental vacancy sits tight at 2.1%. The sections below cover rent and renter trends, a city-by-city comparison, local property tax rules, and what the data means for a Passaic County seller.
Rent outpacing population
Passaic County median gross rent rose 25.4% to $1,621 while population grew only 3.4%, per 2020-2024 ACS data.Paterson's renter concentration
Paterson holds 36,441 renter households, 43.4% of Passaic County's renter base, per the Census Bureau's ACS.Tight rental vacancy
Passaic County's rental vacancy rate is 2.1% in the 2020-2024 ACS housing profile, signaling limited available supply.Who rents in Passaic County
Renters head 83,966 of Passaic County's 178,936 occupied households, a 46.9% share in the 2020-2024 ACS, just short of the 94,970 owner households at 53.1%. Passaic County's population reached 521,012, up 3.4% from the 2015-2019 period, per the Census Bureau.
Paterson carries most of that renter base, with 36,441 renter households against a combined 29,716 for Clifton and Passaic city. Passaic city posts the highest renter share of the three at 76.2%, while Clifton leans more toward owners at a 40.4% renter share. Across Passaic County, 21.2% of housing units sit in buildings of five or more apartments.
Rents, growth and affordability
Passaic County's median gross rent climbed 25.4%, from $1,293 to $1,621, between the 2015-2019 and 2020-2024 American Community Survey periods. Renter households in Passaic County grew 7.4% over the same span, adding 5,799 households, while median household income rose 25.6% to $87,522.
Rent burden runs high across Passaic County. In the 2020-2024 ACS, 57.0% of Passaic County renters paid 30% or more of income toward gross rent. HUD's FY2027 two-bedroom Fair Market Rent for the Bergen-Passaic area is $2,282, effective October 1, 2026, a figure $661 above the county's median gross rent.
Supply has not kept pace with demand. Units in Passaic County's 5+ unit buildings grew just 4.8% since the base period, slower than the 7.4% rise in renter households. Passaic County's rental vacancy rate stands at 2.1%, per the 2020-2024 ACS housing profile, a tight reading for an owner comparing in-place rents.
City-by-city comparison
Paterson holds the largest share of units in 5+ unit buildings among Passaic County's main cities at 25.2%, and the highest employment base. Passaic city, the smallest of the three by population, carries the highest renter share at 76.2% and the lowest rental vacancy at 1.1%.
| City | Median gross rent | Renter share | Share of units in 5+ buildings | Rental vacancy |
|---|---|---|---|---|
| Paterson | $1,548 | 73.1% | 25.2% | 2.4% |
| Clifton | $1,711 | 40.4% | 17.4% | 1.5% |
| Passaic | $1,465 | 76.2% | 44.8% | 1.1% |
Rent in these three Passaic County cities ranges from $1,465 in Passaic city to $1,711 in Clifton, a $246 spread. Clifton's higher income base and lower renter share, 40.4% against Paterson's 73.1%, line up with its higher median rent. Passaic city's 44.8% share of units in 5+ buildings is the highest of the three, nearly double Paterson's 25.2%.
Property taxes and assessment in Passaic County
New Jersey values parcels, including those in Passaic County, as of October 1 of the pretax year. The taxable value equals market value multiplied by the municipality's average assessment ratio, per the state's Division of Taxation.
Passaic County property owners can appeal an assessment to the county board of taxation by April 1, or 45 days after a bulk mailing of notices, whichever is later. Assessments above $1,000,000 can go directly to the state Tax Court, with a $150 filing fee at that threshold.
Each Passaic County municipality sets its own tax rate, so the owner of a 5+ unit building should pull the current bill from the local assessor rather than estimate from a countywide average. A sale itself does not trigger a new assessment; Passaic County assessments generally carry over year to year unless the owner adds improvements after October 1.
What this means if you sell in Passaic County
If you plan to sell commercial property in Passaic County, NJ, you are selling into a renter-majority market where 46.9% of households rent and vacancy sits at 2.1%. Paterson's deep renter pool, 73.1% of its households, supports buyers underwriting a stabilized rent roll, while Passaic city's 1.1% vacancy points to limited turnover risk.
New Jersey carries no statewide rent control, so a Passaic County building's upside depends on its municipality's own rules, not a blanket cap. Security deposits are capped at 1.5x monthly rent under state law and must transfer to the buyer at closing, a detail buyers will check in due diligence.
As a multifamily buyer in Passaic County, we look at 5+ unit buildings across Paterson, Clifton and Passaic city as they stand today. Send a current rent roll, a T-12 and the latest tax bill, and we will price the property on those numbers.
Local Knowledge
Selling Multifamily In New Jersey
What we factor into every Passaic County offer:
More about New Jersey →- Passaic County property is assessed as of October 1 each pretax year, then carried over.
- New Jersey has no statewide rent control; each Passaic County municipality sets its own rules.
- Security deposits are capped at 1.5x monthly rent and must transfer to the buyer at closing.
- Passaic County rental vacancy is tight at 2.1%, supporting in-place rent underwriting.
Property Tax
Property Tax In Passaic County For Apartment Owners
Homeowners in Passaic County pay a median of $10,000 or more a year in property tax on a median home value of $459,500, an effective rate of at least 2.18%, according to the Census Bureau’s 2020-2024 American Community Survey.
How property tax works in New Jersey: classes, assessment and appeals →Estimate a building’s tax bill with the property tax calculator →
- Those figures describe owner-occupied homes. An apartment building can be assessed on a different basis or in a different class, so its bill as a share of value may differ.
- A sale can reset the assessed value. Before you price a Passaic County building, check how New Jersey reassesses property after a transfer and model the buyer’s new tax bill.
- Pull the actual tax bill from the Passaic County assessor or tax collector. City, school and special-district levies stack on top of the county rate.
Seller Guides
Selling In Passaic County? Common Situations We Handle
Learn More
Taxes & Rules For Passaic County Property
The New Jersey rules that shape any deal in Passaic County: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Our Buy Box
What We Buy In Passaic County
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
How Selling To Us Works
- 01
Submit The Deal
Send the address, unit count, asking price, and a rent roll or T-12 if you have them.
- 02
Initial Review
We review it against our buy box and give clear feedback — typically within 48 hours.
- 03
Underwriting & LOI
If it fits, we underwrite in detail and submit a written letter of intent.
- 04
Diligence & Close
Inspections and financing on the agreed timeline, then a professional, predictable closing.
Passaic County Seller FAQ
What is the median rent in Passaic County, NJ?
Median gross rent in Passaic County was $1,621 in the 2020-2024 American Community Survey, up 25.4% from $1,293 in the 2015-2019 period, per the Census Bureau.
What share of Passaic County households rent?
Renters make up 46.9% of Passaic County's occupied housing units, or 83,966 of 178,936 households, per the Census Bureau's 2020-2024 American Community Survey.
How are property taxes assessed in Passaic County?
Passaic County municipalities value parcels as of October 1 of the pretax year, applying the town's average assessment ratio; owners can appeal to the county board of taxation by April 1.
Is it a good time to sell commercial property in Passaic County, NJ?
With rental vacancy at 2.1% and rent up 25.4% since 2015-2019, Passaic County's tight apartment market generally supports current-rent underwriting for sellers.
How do I sell commercial property in Passaic County, NJ?
Send the address, unit count, and any financials. We review Passaic County apartment buildings of 5+ units, give feedback typically within 48 hours, and follow with a written letter of intent if it fits.
Do you buy apartment buildings throughout Passaic County?
Yes. We evaluate multifamily properties across Passaic County, including Paterson, Clifton, and Passaic, as well as smaller towns and unincorporated areas. Every property is reviewed on its own fundamentals.
What size Passaic County properties do you buy?
Apartment buildings and income-producing residential properties with 5 or more units. Our sweet spot is 15–25 units, and we review larger communities with capital partners.
Will you buy a property that needs work or has high vacancy?
Yes. We underwrite value-add, mismanaged, and distressed properties as they are today — no repairs or lease-up required before selling.
Can I sell rental property in Passaic County with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
What do I need to sell my apartment building in Passaic County?
An address and unit count are enough to start. A current rent roll and trailing twelve-month statement let us move to a written offer faster.
How do property taxes factor into a Passaic County offer?
Property is assessed at the county level (the county seat is Paterson), within New Jersey rules. New Jersey property taxes are among the highest in the nation and vary by municipality. We also review whether your town has a rent-control ordinance that affects value.
Submit A Deal
Have A Property In Passaic County?
Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
