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These days, finding an affordable place to live in the Princeton area can be challenging. Home prices in Princeton are now at a median cost of $911,392, higher than the New Jersey average of $496,577.
The average cost of rent is $2,272/mo in Princeton, primarily driven by the current value of real estate in the Princeton area. In Princeton, 38.14% of households rent, and 47.01% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Princeton is $14,582 per month. Households that rent pay about 15.58% of their income on rent here. Princeton’s most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Kingston, NJ: less expensive homes
- Rocky Hill, NJ: less expensive homes
- Penns Neck, NJ: equally priced homes
- Plainsboro, NJ: less expensive homes
- East Rocky Hill, NJ: less expensive homes
- Rosedale, NJ: less expensive homes
- Skillman, NJ: equally priced homes
- Heathcote, NJ: less expensive homes
- Princeton Meadows, NJ: less expensive homes
- Princeton Junction, NJ: less expensive homes
Cities with Similar Populations
- Dunwoody, GA: less expensive homes
- Stratford, CT: less expensive homes
- West New York, NJ: less expensive homes
- Glendora, CA: equally priced homes
- Findlay, OH: less expensive homes
- Evans, GA: less expensive homes
- Encinitas, CA: higher priced homes
- Edina, MN: less expensive homes
- Valley Stream, NY: less expensive homes
- Davis, CA: equally priced homes
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