Princeton, NJ—08540
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Princeton, NJ
As of Oct '25, the median home price in Princeton, NJ is $955,000, with a year-over-year change of 3.1%. This indicates that home prices in Princeton, NJ are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $955,000 | 3.1% |
| Single Family | $1,042,000 | 2.9% |
| Condos | $466,000 | 3.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $337,000 | 9.4% |
2 Bed | $524,000 | 3.1% |
3 Bed | $785,000 | 1.8% |
4 Bed | $1,196,000 | 3.9% |
| 5 Bed | $1,910,000 | 3.1% |
% of Housing Stock
Rental Trends — Princeton, NJ
As of July '25, Rentcast reports the average rent in Princeton, NJ is $4,140, with a year-over-year rent change of 8.4%. Per bedroom, the median rent as of July '25 in Princeton, NJ is studios: $2,320, 1-bedrooms: $2,560, 2-bedrooms: $2,900, 3-bedrooms: $4,550, 4-bedrooms: $5,580. The most common rental property sizes in Princeton, NJ are 2-bedroom and 1-bedroom, accounting for 41.2% and 24.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,850 | $4,140 |
| Studio Rent | $2,300 | $2,320 |
| 1 Bed Rent | $2,580 | $2,560 |
| 2 Bed Rent | $2,680 | $2,900 |
| 3 Bed Rent | $4,250 | $4,550 |
| 4 Bed Rent | $5,100 | $5,580 |
% of Rental Stock
Property Listings — Princeton, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Princeton, NJ is 58. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,010,000 | -26.0% |
Listing Count | 198 | 22.0% |
| Listings as % of Homes | 0.6% | 22.0% |
Days on Market | 58 | -1.0% |
Demographics — Princeton, NJ
As of the latest ACS Survey released in 2023, Princeton, NJ has a population of 49,500, which has increased by 1.1% over the past 5 years. Princeton, NJ is a moderately popular place for families, as children make up 23.1% of the population. The area has a highly educated workforce, with 82.4% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 35.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 49,500 | 1.1% |
% Under 18 | 23.1% | 5.5% |
% Seniors | 14.9% | -9.1% |
% WFH | 35.1% | 244.1% |
% w/ College Degree | 82.4% | 1.7% |
As of the latest ACS Survey released in 2023, Princeton, NJ is a predominantly white area, with 52.5% of the population identifying as white. The white population has shrunk by 11.0% in the last 5 years. The second most common race or ethnicity in Princeton, NJ is asian, making up 31.2% of the population. Foreign-born residents account for 36.0% of the population in Princeton, NJ, and this percentage has increased by 9.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 52.5% | -11.0% |
% Black | 5.6% | 24.4% |
% Hispanic | 6.7% | 52.3% |
% Asian | 31.2% | 4.3% |
% Foreign Born | 36.0% | 9.1% |
Mortgage and Risk — Princeton, NJ
According to HUD data as of 2023, there were 423 mortgage originations in Princeton, NJ, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Princeton, NJ. Investor activity is low, as 1.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 423 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Princeton, NJ
As of 2024, the percent of homes in Princeton, NJ under the Section 8 program is 5.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Princeton, NJ, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 416 |
Total Units Section 8 | 344 |
% Rentals under Section 8 | 5.1% |
% Occupied Section 8 | 84.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$450 | $2,580 | $2,130 |
| 2 Bedroom | $10 | $2,680 | $2,690 |
| 3 Bedroom | -$1,010 | $4,250 | $3,240 |
| 4 Bedroom | -$1,470 | $5,100 | $3,630 |
Affordability — Princeton, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $955,000 |
| Median Household Income | $170,000 |