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These days, finding an affordable place to live in the Pennington area can be challenging. Home prices in Pennington are now at a median cost of $612,165, higher than the New Jersey average of $496,577.
The average cost of rent is $1,805/mo in Pennington, primarily driven by the current value of real estate in the Pennington area. In Pennington, 11.73% of households rent, and 35.04% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Pennington is $15,911 per month. Households that rent pay about 11.34% of their income on rent here. Pennington’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Rosedale, NJ: higher priced homes
- Titusville, NJ: less expensive homes
- Hopewell, NJ: equally priced homes
- Marshalls Corner, NJ: equally priced homes
- Woodsville, NJ: less expensive homes
- Washington Crossing, PA: higher priced homes
- Yardley, PA: less expensive homes
- Trenton, NJ: less expensive homes
- Princeton, NJ: higher priced homes
- Mercerville, NJ: less expensive homes
Cities with Similar Populations
- Huntertown, IN: less expensive homes
- Sealy, TX: less expensive homes
- Schiller Park, IL: less expensive homes
- Lansdowne, VA: higher priced homes
- Jupiter Farms, FL: equally priced homes
- Jericho, NY: higher priced homes
- Jefferson Hills, PA: less expensive homes
- Jefferson City, TN: less expensive homes
- Itasca, IL: less expensive homes
- Isanti, MN: less expensive homes
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