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
With a population of 29,603, 9,499 total housing units (homes and apartments), and a median house value of $840,571, 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 57.83% of the borough's housing units. Other types of housing that are prevalent in Princeton include large apartment complexes or high rise apartments ( 18.23%), row houses and other attached homes ( 12.62%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.26%).
The most prevalent building size and type in Princeton are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 48.05% owning and 51.95% 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 37.67% of the borough's housing hails from this era. Other housing ages represented in Princeton include homes built before 1939 ( 27.96%) and housing constructed between 1970-1999 ( 25.43%). There's also some housing in Princeton built between 2000 and later ( 8.94%).
Appreciation rates for homes in Princeton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.79%, which ranks in the top 40% nationwide. This equates to an annual average Princeton house appreciation rate of 0.47%.
Over the last year, Princeton appreciation rates have trailed the rest of the nation. In the last twelve months, Princeton's appreciation rate has been 0.21%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Princeton were at -2.58%, which equates to an annual appreciation rate of -9.92%.
Notably, Princeton's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New Jersey, our data show that Princeton's latest annual appreciation rate is lower 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 borough. 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.
|$802,001 - $1,070,000||24.2|
|$535,001 - $802,000||26.9|
|$428,001 - $535,000||9.5|
|$321,001 - $428,000||5.3|
|$214,001 - $321,000||3.3|
|$107,001 - $214,000||1.7|
|$54,001 - $107,000||1.1|
|$0 - $54,000||1.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Princeton HOMES|
|2000 or Newer||8.9|
|1970 - 1999||25.4|
|1940 - 1969||37.7|
|1939 or Older||28.0|
|TYPE OF Princeton HOMES|
|Small Apt. Buildings||11.3|
|SIZE OF Princeton HOMES|
|5 or more bedrooms||13.65|