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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Princeton Junction, NJ Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Princeton Junction, NJ Housing Market Trends

With a population of 2,475, 841 total housing units (homes and apartments), and a median house value of $895,819, Princeton Junction house prices are not only among the most expensive in New Jersey, Princeton Junction real estate also is some of the most expensive in all of America.

Princeton Junction is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Princeton Junction than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Princeton Junction. Owner-occupied housing accounts for 78.44% of Princeton Junction's homes, and 55.10% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Princeton Junction built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Princeton Junction built before 1939 ( 17.71%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.30%). There's also some housing in Princeton Junction built between 2000 and later ( 8.86%).

Vacant housing appears to be an issue in Princeton Junction. Fully 13.39% of the housing stock is classified as vacant. Left unchecked, vacant Princeton Junction homes and apartments can be a drag on the real estate market, holding Princeton Junction real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Princeton Junction Home Appreciation Rates

Princeton Junction's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Princeton Junction during the period has been just 4.81%, which is lower than 80% of US communities.

Appreciation rates are so strong in Princeton Junction that despite a nationwide downturn in the housing market, Princeton Junction real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Princeton Junction appreciation rates continue to be some of the highest in America, at 11.89%, which is higher than appreciation rates in 98.93% 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 Junction. Princeton Junction appreciation rates in the latest quarter were at 4.09%, which equates to an annual appreciation rate of 17.37%.

Importantly, this makes Princeton Junction one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to New Jersey, our data show that Princeton Junction's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.

Average Home Values

Median Home Value

$895,819

Princeton Junction, NJ Home Prices
> $1,351,000
$1,014,001 - $1,351,000
$676,001 - $1,014,000
$540,001 - $676,000
$406,001 - $540,000
$271,001 - $406,000
$135,001 - $271,000
$68,001 - $135,000
$0 - $68,000
0.4%
0.4%
23.7%
23.7%
57.2%
57.2%
11.8%
11.8%
4.5%
4.5%
1.0%
1.0%
0.0%
0.0%
0.0%
0.0%
1.4%
1.4%
0% 100.0%
% of Homes
Very High

for New jersey

Very High

for nation

Number of Homes And Apartments:

841

Princeton Junction Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,675 / per month

Homeownership Rate

Owners
Renters
78.4%
78.4%
21.6%
21.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
13.4%
13.4%
86.6%
86.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.9%
8.9%
56.1%
56.1%
17.3%
17.3%
17.7%
17.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
88.5%
88.5%
0.0%
0.0%
0.0%
0.0%
11.5%
11.5%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
13.5%
13.5%
19.4%
19.4%
16.5%
16.5%
38.6%
38.6%
12.0%
12.0%
0% 100.0%
% of Homes