Cost of Living in Princeton, NJ
Population 30,756 · Census ACS 2020–2024 5-year estimates
The median rent in Princeton, NJ is $2,636/month, 53% higher than the New Jersey median and 87% higher than the U.S. median. The median home value is $1,050,600, 216% higher than the national median. Households earn a median of $192,079 a year, 85% higher than the state median.
Affordability
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Princeton vs. New Jersey vs. U.S.
| Princeton | New Jersey | U.S. | |
|---|---|---|---|
| Median rent | $2,636 | $1,720 | $1,413 |
| Median home value | $1,050,600 | $454,400 | $332,700 |
| Median household income | $192,079 | $103,556 | $80,734 |
| Homeownership rate | 55.4% | 63.8% | 65.2% |
| Bachelor's degree or higher | 84.7% | 43.6% | 35.7% |
| Poverty rate | 6.1% | 9.7% | 12.5% |
| Unemployment rate | 4.3% | 6.3% | 5.2% |
| Work from home | 32.7% | 16.8% | 15.1% |
| Median age | 28.5 | 40.1 | 38.9 |
FAQ
What is the average rent in Princeton, NJ?
The median gross rent in Princeton, NJ is $2,636 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Princeton, NJ?
Using the common 30% rule, renting a median-priced home takes about $105,440 a year in gross income.
Is Princeton, NJ expensive to live in?
Rent there is 87% higher than the U.S. median, and the median home costs about 5.5 times the median household income.
Other cities in New Jersey
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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