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  1. Home
  2. /Browse ZIP Codes
  3. /New Jersey
  4. /Princeton, NJ - 08540

Princeton, NJ—08540

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$988,000
2.5% YoY Growth
Household Income
$170,000
19.4% YoY Growth
Days on Market
32
21.0% Longer YoY
Home Price Forecast
2.4%
Median Rent
$3,850
8.4% YoY Growth
1-Bed Rent
$2,580
11.7% YoY Growth
2-Bed Rent
$2,680
9.7% YoY Growth
3-Bed Rent
$4,250
6.6% YoY Growth

Other Zip Codes in Princeton, NJ

0854408542
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Princeton, NJ

As of May '26, the median home price in Princeton, NJ is $988,000, with a year-over-year change of 2.5%. This indicates that home prices in Princeton, NJ are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$988,0002.5%
Single Family $1,080,0002.9%
Condos $475,0001.1%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $358,000
    3.8%
    2 Bed
    		$536,0001.3%
    3 Bed
    		$804,0001.4%
    4 Bed
    		$1,242,0003.3%
    5 Bed $2,006,8634.8%
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    % of Housing Stock

    Studio
    2.4%
    1 Bedroom
    10.4%
    2 Bedrooms
    26.0%
    3 Bedrooms
    27.0%
    4 Bedrooms
    23.2%
    5+ Bedrooms
    10.9%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    6.1%
    1 Bedroom
    24.0%
    2 Bedrooms
    41.2%
    3 Bedrooms
    16.3%
    4 Bedrooms
    9.2%
    5+ Bedrooms
    3.2%

    Property Listings — Princeton, NJ

    As of May '26, Realtor.com reports that the median days on market for a home in Princeton, NJ is 32. This is a increase of 21.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$1,140,000-14.0%
    Listing Count
    		221-2.0%
    Listings as % of Homes0.6%-2.0%
    Days on Market
    		3221.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		49,5001.1%
    % Under 18
    		23.1%5.5%
    % Seniors
    		14.9%-9.1%
    % WFH
    		35.1%244.1%
    % w/ College Degree
    		82.4%1.7%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio4.7
    Median Home Price$988,000
    Median Household Income$170,000

    Princeton, NJ — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Princeton, NJ

    08542

    Princeton, NJ

    08544

    Rocky Hill, NJ

    08553

    Rockingham, NJ

    08528

    Skillman, NJ

    08558

    Frequently Asked Questions