Princeton, MN—55371
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Princeton, MN
As of Oct '25, the median home price in Princeton, MN is $362,000, with a year-over-year change of 3.1%. This indicates that home prices in Princeton, MN are increasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $362,000 | 3.1% |
| Single Family | $362,000 | 2.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $320,000 | 3.2% |
3 Bed | $383,000 | 3.0% |
4 Bed | $416,000 | 2.7% |
| 5 Bed | $482,000 | 1.7% |
% of Housing Stock
Rental Trends — Princeton, MN
As of July '25, Rentcast reports the average rent in Princeton, MN is $1,280, with a year-over-year rent change of -20.5%. Per bedroom, the median rent as of July '25 in Princeton, MN is studios: $1,120, 1-bedrooms: $1,050, 2-bedrooms: $995, 3-bedrooms: $1,720. The most common rental property sizes in Princeton, MN are 2-bedroom and 1-bedroom, accounting for 39.4% and 31.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,120 | $1,280 |
| Studio Rent | $1,120 | $1,120 |
| 1 Bed Rent | $805 | $1,050 |
| 2 Bed Rent | $995 | $995 |
| 3 Bed Rent | $1,700 | $1,720 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Princeton, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Princeton, MN is 45. This is a decrease of -23.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $457,000 | 0.0% |
Listing Count | 53 | -6.0% |
| Listings as % of Homes | 0.5% | -6.0% |
Days on Market | 45 | -23.0% |
Demographics — Princeton, MN
As of the latest ACS Survey released in 2023, Princeton, MN has a population of 17,400, which has increased by 2.4% over the past 5 years. Princeton, MN is a moderately popular place for families, as children make up 23.9% of the population. The area has a poorly educated workforce, with 18.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,400 | 2.4% |
% Under 18 | 23.9% | -9.5% |
% Seniors | 16.7% | 36.9% |
% WFH | 8.9% | 58.9% |
% w/ College Degree | 18.6% | -0.5% |
As of the latest ACS Survey released in 2023, Princeton, MN is a predominantly white area, with 91.6% of the population identifying as white. The white population has shrunk by 4.0% in the last 5 years. The second most common race or ethnicity in Princeton, MN is hispanic, making up 2.4% of the population. Foreign-born residents account for 1.4% of the population in Princeton, MN, and this percentage has increased by 16.7% 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 | 91.6% | -4.0% |
% Black | 0.2% | 0.0% |
% Hispanic | 2.4% | 60.0% |
% Asian | 0.6% | -14.3% |
% Foreign Born | 1.4% | 16.7% |
Mortgage and Risk — Princeton, MN
According to HUD data as of 2023, there were 603 mortgage originations in Princeton, MN, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Princeton, MN. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 603 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Princeton, MN
Princeton, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 102 |
Total Units Section 8 | 62 |
% Rentals under Section 8 | 5.5% |
% Occupied Section 8 | 96.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $395 | $805 | $1,200 |
| 2 Bedroom | $465 | $995 | $1,460 |
| 3 Bedroom | $270 | $1,700 | $1,970 |
| 4 Bedroom | N/A | N/A | $2,240 |
Affordability — Princeton, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $362,000 |
| Median Household Income | $89,700 |