Princeton, IL—61356
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Princeton, IL
Princeton, IL lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $178,000 | 9.6% |
| Single Family | $177,000 | 8.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $130,000 | 7.4% |
3 Bed | $179,000 | 8.5% |
4 Bed | $232,000 | 7.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Princeton, IL
As of July '25, Rentcast reports the average rent in Princeton, IL is $762, with a year-over-year rent change of -40.5%. Per bedroom, the median rent as of July '25 in Princeton, IL is 1-bedrooms: $731, 2-bedrooms: $825. The most common rental property sizes in Princeton, IL are 2-bedroom and 1-bedroom, accounting for 34.6% and 26.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $775 | $762 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $775 | $731 |
| 2 Bed Rent | $800 | $825 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Princeton, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Princeton, IL is 56. This is a increase of 30.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $207,000 | -9.0% |
Listing Count | 35 | 33.0% |
| Listings as % of Homes | 0.8% | 33.0% |
Days on Market | 56 | 30.0% |
Demographics — Princeton, IL
As of the latest ACS Survey released in 2023, Princeton, IL has a population of 10,700, which has remained stable by 0.6% over the past 5 years. Princeton, IL is a moderately popular place for families, as children make up 20.0% of the population. The area has a moderately educated workforce, with 28.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,700 | 0.6% |
% Under 18 | 20.0% | -2.0% |
% Seniors | 25.9% | 4.4% |
% WFH | 6.1% | 84.8% |
% w/ College Degree | 28.0% | 1.8% |
As of the latest ACS Survey released in 2023, Princeton, IL is a predominantly white area, with 89.1% of the population identifying as white. The white population has shrunk by 2.4% in the last 5 years. The second most common race or ethnicity in Princeton, IL is hispanic, making up 4.0% of the population. Foreign-born residents account for 2.5% of the population in Princeton, IL, and this percentage has decreased by 21.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.1% | -2.4% |
% Black | 0.7% | 75.0% |
% Hispanic | 4.0% | -42.0% |
% Asian | 1.7% | 142.9% |
% Foreign Born | 2.5% | -21.9% |
Mortgage and Risk — Princeton, IL
According to HUD data as of 2023, there were 132 mortgage originations in Princeton, IL, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Princeton, IL. Investor activity is low, as 0.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 132 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Princeton, IL
Princeton, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 168 |
Total Units Section 8 | 65 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 96.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$85 | $775 | $690 |
| 2 Bedroom | $110 | $800 | $910 |
| 3 Bedroom | N/A | N/A | $1,120 |
| 4 Bedroom | N/A | N/A | $1,330 |
Affordability — Princeton, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $178,000 |
| Median Household Income | $64,000 |