Living in Princeton, New Jersey
Cost of living, income, home prices, rent and demographics of Princeton · Census data 2020–2024
Princeton has 30,756 residents with a median age of 28.5. The median household income is $192,079 (85% higher than the New Jersey median), the median home value is $1,050,600, the median rent is $2,636/month.
Princeton at a glance
- Population
- 30,756
- Median age
- 28.5State: 40.1
- Median household income
- $192,079State: $103,556
- Median home value
- $1,050,600State: $454,400
- Median rent
- $2,636/moState: $1,720
- Homeowners
- 55.4%
- Bachelor's degree or higher
- 84.7%
- Average commute
- 24 min
Is Princeton a good place to live?
Pros: Median household income 85% higher than the New Jersey median; an average commute of 24 minutes; unemployment of 4.3%; a poverty rate of 6.1%.
Cons: Home values 131% higher than the state median.
The weather is best in May–June and August–September.
Cost of living in Princeton
Housing is the biggest part of the cost of living. In Princeton the median home value is $1,050,600, 216% higher than the U.S. median. Renters pay a median of $2,636 per month, which is 24.8% of household income. Homeowners with a mortgage pay $4,001 a month in housing costs.
Princeton median household income
The median household income in Princeton is $192,079 and the income per person is $87,301. 6.1% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Princeton: homes for sale and rent
- Housing units
- 9,906
- Owner-occupied
- 55.4%
- Renter-occupied
- 44.6%
- Vacant
- 6.1%Includes seasonal homes
- Median year built
- 1965
- Average household size
- 2.54
Princeton demographics
- Population
- 30,756
- Median age
- 28.5
- Under 18
- 18.8%
- 65 and older
- 13%
- Households
- 9,300
- Foreign-born
- 30.9%
- Veterans
- 1.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Princeton ›
Education in Princeton
84.7% of adults 25 and older in Princeton have a bachelor's degree or higher (New Jersey: 43.6%), and 56.8% have a graduate or professional degree.
Jobs and commute in Princeton
- Unemployment rate
- 4.3%State: 6.3%
- Average commute
- 24 minState: 31 min
- Work from home
- 32.7%
- Drive alone
- 32.1%
- Public transit
- 7.7%
- Walk to work
- 19.9%
- Homes with broadband
- 93.4%
Princeton vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Princeton | 30,756 | $192,079 | $1,050,600 | $2,636 |
| Kingston | 1,670 | $110,813 | $475,900 | $1,765 |
| Rocky Hill | 819 | $148,056 | $597,200 | $1,799 |
| Princeton Junction | 2,025 | $224,732 | $709,800 | $1,661 |
| Plainsboro Center | 2,773 | $119,317 | $483,300 | $2,099 |
| Montgomery | 23,841 | $226,771 | $795,200 | $2,188 |
| Plainsboro | 24,167 | $131,638 | $683,100 | $2,037 |
| East Rocky Hill | 235 | $211,731 | $844,800 | — |
| West Windsor | 30,479 | $197,190 | $776,400 | $2,327 |
More for people moving to Princeton
Princeton ZIP code ›Weather and climate ›Living in Princeton: FAQ
What is the median household income in Princeton, NJ?
The median household income in Princeton is $192,079, 85% higher than the New Jersey median of $103,556 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Princeton?
The median home value in Princeton is $1,050,600, compared with $454,400 in New Jersey.
How much is rent in Princeton?
The median gross rent in Princeton is $2,636 per month, about 24.8% of household income.
Is Princeton, NJ a good place to live?
Pluses: median household income 85% higher than the New Jersey median; an average commute of 24 minutes; unemployment of 4.3%; a poverty rate of 6.1%. Minuses: home values 131% higher than the state median.
What is the median age in Princeton?
The median age in Princeton is 28.5 years (New Jersey: 40.1).
How long is the commute in Princeton?
The average commute to work in Princeton is 24 minutes; 32.7% of workers work from home.
What is the unemployment rate in Princeton?
The unemployment rate in Princeton is 4.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Princeton?
84.7% of adults in Princeton have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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