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Princeton

Princeton

Located in Mille Lacs County

$375,209 Average Value
$215 Average Price per Sq Ft
30 Homes For Sale

Princeton is a growing commuter hub on the Rum River

Split by the scenic Rum River, Princeton is a growing town of about 5,400 residents. Although the community got its start as a hub for agriculture and lumber, Princeton has adapted to accommodate commuters looking for a laid-back lifestyle within reach of the metro area. “We’re close enough to the Twin Cities, yet we still have maintained what I would call a small-town charm,” says Princeton City Administrator Michele McPherson. Many residents connect through volunteering with nonprofits, houses of worship and community groups. “Between the philanthropic attitude and the people power through all of the civic organizations, I think all that builds connections and support for new residents,” McPherson says. Mayor Jack Edmonds, a lifelong resident, says he’s seen Princeton change over the years. “We’re a growing community,” he says. “People can live out here and commute to the metro, and a lot of our residents do. We’re trying not to leave that small-town atmosphere behind.”

Home prices typically range from $200,000 to $400,000

Housing styles in Princeton range from early 20th-century farmhouses and Craftsman-style homes to midcentury cottages and ranch-style homes. Split-levels and new traditional builds began popping up on the market in the 1980s, and new construction continues today in subdivisions around town. Sidewalks line most residential streets, and homes tend to sit on roomy lots, even in the center of town. Fixer-uppers and smaller homes sell for $150,000 to $250,000, but most single-family homes go for $200,000 to $400,000. Townhouses sell for $200,000 to $350,000.

Kayaking, camping and fishing on the Rum River

The Rum River flows from Mille Lacs Lake and winds along the western edge of town. “It’s this scenic, wild river system and the main branch is deep enough for kayaking and canoeing. A lot of people take advantage of it,” McPherson says. Riverside Park takes full advantage of the waterway with campsites, a boat launch and fishing access. Mark Park, located downtown, is a favorite among families for its playground, splash pad, sports courts and ball fields. Snowmobiling and skiing are popular in the winter, but residents can ice skate year-round at the Princeton Ice Arena. Spring is the best time for wildlife spotting at Kunkel Wildlife Management Area, which is also a popular hunting ground for deer, bear, waterfowl and other game.

Career academies at Princeton High School

Princeton Public Schools serve the area and receive an overall B-minus grade from Niche. The district offers a Spanish immersion program with the option to start in Kindergarten or first grade. Princeton High School, rated B-minus, offers six career academies, where students can graduate with industry credentials and college credit.

Less than 60 miles to the Twin Cities

State Route 95 and U.S. Route 169 intersect in town, putting residents in a prime position to commute to nearby cities like St. Cloud, 30 miles west, and Cambridge, 20 miles east. Princeton is about 50 miles north of Minneapolis and roughly 60 miles from St. Paul and Minneapolis-Saint Paul International Airport. M Health Fairview Northland Medical Center offers emergency medical care in town.

Princeton is a regional shopping and dining destination

“Princeton still has a traditional downtown, but we’re a regional draw when it comes to retail and services because we have Walmart, we have banks, we have the hospital,” McPherson says. The town has fast-food restaurants, including a recently opened Culver’s, but residents support local sit-down spots like Merlin’s Family Restaurant, a Princeton institution for breakfast and lunch. “We have a huge philanthropic attitude from our businesses. We have a local nonprofit, Twice New Clothing and Treasures, and they run a retail store entirely on volunteers,” McPherson says. “They funnel close to $80,000 back into the community from donations that they sell.” The community has a weekly farmers market from May through October downtown, which continues monthly indoors from November through April.

Rum River Festival draws thousands to Princeton

One of Princeton’s biggest events is the Rum River Festival. “It’s a four-day event in June of every year that celebrates the community. We had close to 75,000 people come through town over the four days [in 2025],” McPherson says. During the winter, locals head to the fairgrounds for Light Up Princeton, which features a mini parade and a drive-thru light display. “It’s staffed by non-profits and local groups that then collect donations on behalf of a group or cause that’s near and dear to them,” Mayor Edmonds says. “It’s a way to fundraise in the wintertime when it’s really hard to otherwise.” The city also hosts the annual Millie Lacs County Fair every August.

Leslie Klosterman
Written By
Leslie Klosterman

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Schools

Source:
GreatSchools: The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process. View GreatSchools Rating Methodology

Princeton Housing Trends

Housing Trends

Median List Price
$353,000
Median Sale Price
$344,000
Median Single Family Sale Price
$350,000
Median Townhouse Sale Price
$303,000
Median Change From 1st List Price
0%
Last 12 months Home Sales
193
Median Home Sale Price YoY Change
1%
Average Price Per Sq Ft
$215

Neighborhood Facts

Number of Homes for Sale
30
Months of Supply
1.90

Homes for Sale

Homes for Rent

Distribution of Home Values

Source: Public Records

Average Home Value





Source: Public Records

Property Mix - Square Feet

Princeton Has More Owners

Demographics

Total Population
5,192
Median Age
40
Population under 18
24.7%
On par with the national average
23.8%
Population over 65
20.2%
On par with the national average
19.1%

Finances

Median Household Income
$54,447
Significantly below the national average
$71,702
Average Household Income
$68,492

Education and Workforce

High School Graduates
90.8%
College Graduates
12.9%
Below the national average
34.1%
Advanced Degrees
4.3%
Below the national average
13.3%
% Population in Labor Force
65.3%

Weather

Annual Precipitation
31''
Average Winter Low Temperature
4°F
Average Summer High Temperature
83°F
Annual Snowfall
28''

Area Factors

Somewhat Bikeable

Bike Score®®

36 / 100

Car-Dependent

Walk Score®®

35 / 100
Source: Walk Score
Source: Walk Score

Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address. CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Princeton
Matthew McLaren
Master Key Real Estate Co
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