Police have launched an investigation into the incident which happened on Thursday night, and are appealing for witnesses to come forward with information.
Reports were received at around 11:10 pm of a fire in a close at Brediland Road, and officers were called to the scene.
A 47-year-old woman is being treated for smoke inhalation at the Royal Alexandria Hospital on Corsebar Road and the blaze has been described as "suspicious".
Detective Sergeant Alastair Semple of Paisley Police Office said: "Inquiries are ongoing into the cause of the fire, and at this time it is being treated as wilful.
"I would urge those who may have witnessed anyone acting suspiciously in the area around the time of the fire, or who has information that may assist police enquiries should contact Police Scotland on 101.
"Alternatively Crimestoppers can be contacted on 0800 555 111, where anonymity can be maintained."