Living here
Average rent in Princeton
What renters actually pay, by number of bedrooms, and how Princeton compares with New Jersey and the US.
Median rent
$2,448/mo
82% above US
1 bedroom
$1,593/mo
35% above US
2 bedrooms
$2,780/mo
108% above US
Renters paying 30%+ of income
41%
US 50%
Renter households
3,959
Rent by number of bedrooms
Median gross rent (contract rent plus utilities) for occupied rental units, by bedrooms. Income needed uses the 30% rule.
How Princeton compares
- Princeton$1,581
- New Jersey$1,268
- United States$1,185
- Princeton$1,593
- New Jersey$1,410
- United States$1,180
- Princeton$2,780
- New Jersey$1,741
- United States$1,338
- Princeton$3,350
- New Jersey$1,949
- United States$1,500
Two-bedroom rent in nearby cities
- Princeton$2,780
- Edison$2,094
- Newark$1,386
- Jersey City$1,857
- Atlantic City$1,138
- Princeton41%
- Edison37%
- Newark58%
- Jersey City44%
- Atlantic City58%
Nearby cities are other Local City Network guides in New Jersey, nearest first.
What rent can you afford?
At 30% of income you can spend about $2,780 a month.
- Studio $1,581
- 1 bedroom $1,593
- 2 bedrooms $2,780
- 3 bedrooms $3,350
- 4 bedrooms $3,501
- 5+ bedrooms $2,485
Green means the median Princeton rent for that size fits your budget. Landlords often ask for income of 2.5–3× the monthly rent.
How stretched are renters?
41% of Princeton renters spend 30% or more of their income on rent, and 16% spend half or more. The typical renter household puts 26.6% of its income toward rent (US: 50% and 25%).
Rent by zip code
Median gross rent for each ZIP Code Tabulation Area that overlaps Princeton.
HUD fair market rents
HUD’s 2027 fair market rents for Trenton-Princeton, NJ MSA are the payment benchmarks for housing vouchers (about the 40th percentile of recent movers’ rents), so they often differ from the medians above.
More on living in Princeton
Neighborhoods of Princeton
Questions
What is the average rent in Princeton?
The median gross rent (rent plus utilities) is $2,448 a month, 48% above the New Jersey median and 82% above the national median.
How much is a one-bedroom apartment in Princeton?
The median one-bedroom rents for $1,593 a month (US: $1,180).
How much is a two-bedroom in Princeton?
The median two-bedroom rents for $2,780 a month (US: $1,338).
How much do you need to make to rent in Princeton?
Using the common 30% rule, a median two-bedroom ($2,780) takes a household income of about $111,200 a year, and a one-bedroom about $63,720.
Is rent affordable in Princeton?
About 41% of Princeton renters spend 30% or more of their income on rent, and 16% spend at least half (US: 50% and 25%).
Source: U.S. Census Bureau, American Community Survey 2019–2023 5-year estimates (tables B25031, B25070 and B25071). Estimates have margins of error; figures are in 2023 dollars.