Housing
Home prices and rent in Princeton
Median home values, rents and incomes from the U.S. Census Bureau, compared with New Jersey and the U.S.
Census geography: Princeton, Mercer County, New Jersey. These survey estimates are not current listing prices.
Princeton vs. New Jersey and the U.S.
| Princeton | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $1,050,600 | $454,400 | $332,700 |
| Median rent (monthly) | $2,636 | $1,720 | $1,413 |
| Median household income | $192,079 | $103,556 | $80,734 |
| Homes owned by occupants | 55% | 64% | 65% |
| Median year built | 1965 | 1970 | 1980 |
Ten years of change
| 2014 | 2019 | 2024 | |
|---|---|---|---|
| Median home value | $760,800 | $866,200 | $1,050,600 |
| Median rent (monthly) | $1,344 | $1,532 | $2,636 |
| Median household income | $116,875 | $137,672 | $192,079 |
Fair Market Rents (HUD, fiscal year 2027)
Trenton-Princeton, NJ MSA · Mercer County. HUD's payment benchmarks for housing programs: typical gross rent (rent plus utilities) for a recent mover, not a listing or an asking rent.
Large figures are the metro-area Fair Market Rent.
Income limits (HUD, fiscal year 2026)
Area median family income: $139,800. Households at or under these incomes can qualify for many housing programs; check each program's own rules.
| Household size | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
|---|---|---|---|---|---|---|---|---|
| Low income (80%) | $74,800 | $85,450 | $96,150 | $106,800 | $115,350 | $123,900 | $132,450 | $141,000 |
| Very low income (50%) | $48,850 | $55,800 | $62,800 | $69,750 | $75,350 | $80,950 | $86,500 | $92,100 |
| Extremely low income (30%) | $29,300 | $33,500 | $37,700 | $41,850 | $45,200 | $48,550 | $51,900 | $55,720 |
Source: U.S. Department of Housing and Urban Development, Fair Market Rents and Income Limits, checked October 9, 2026.
Questions
What is the median home value in Princeton?
$1,050,600, according to the Census Bureau’s 2024 American Community Survey (5-year estimates), compared with $454,400 in New Jersey and $332,700 nationally.
How much is rent in Princeton?
Median gross rent (rent plus utilities) is $2,636 a month, versus $1,720 statewide.
How much have home values risen in Princeton?
The median home value went from $760,800 in 2014 to $1,050,600 in 2024 (+38%).
What is fair market rent in Princeton?
HUD's fiscal year 2027 Fair Market Rent for the Trenton-Princeton, NJ MSA is $1,561 for a studio, $1,764 for one bedroom and $2,242 for two bedrooms. These are HUD program benchmarks, not asking rents.
Are these current market prices?
No. They are survey medians from the Census Bureau, based on a five-year survey period, so they lag today’s listings. They are the most consistent way to compare places and track change over time.
U.S. Census Bureau, American Community Survey 5-year estimates (2014, 2019, 2024), Princeton, Mercer County, New Jersey. Values are estimates with margins of error.