Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 30,377, 8,951 total housing units (homes and apartments), and a median house value of $1,548,838, Princeton house prices are not only among the most expensive in New Jersey, Princeton real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Princeton, accounting for 53.36% of the city's housing units. Other types of housing that are prevalent in Princeton include large apartment complexes or high rise apartments ( 20.48%), row houses and other attached homes ( 18.36%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.76%).
The most prevalent building size and type in Princeton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.19% owning and 54.81% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Princeton's housing was primarily built during this period, from the '40s through the '60s. A full 32.68% of the city's housing hails from this era. Other housing ages represented in Princeton include homes built between 1970-1999 ( 23.35%) and housing constructed before 1939 ( 22.49%). There's also some housing in Princeton built between 2000 and later ( 21.48%).
Real estate appreciation rates in Princeton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.31% during the period.
Appreciation rates are so strong in Princeton that despite a nationwide downturn in the housing market, Princeton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Princeton appreciation rates continue to be some of the highest in America, at 13.16%, which is higher than appreciation rates in 95.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Princeton. Princeton appreciation rates in the latest quarter were at 4.99%, which equates to an annual appreciation rate of 21.49%.
Importantly, NeighborhoodScout’s exclusive research found that Princeton's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to New Jersey, our data show that Princeton's latest annual appreciation rate is higher than 80% of the other cities and towns in New Jersey.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Princeton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Princeton - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Princeton real estate investment or home purchase decisions.
$1,548,838
for New jersey
for nation
8,951
$4,761 / per month