$1,645,586Average Value$486Average Price per Sq Ft54Homes For Sale
A small college town that's booming with big city perks
Princeton has long been synonymous with its namesake university. But people are rapidly moving in for other reasons, as evidenced by the significant population boom. Between 2009 and 2023, the population more than doubled, from 13,400 residents to 30,300. “It’s true that people move to Princeton for the educational opportunities. But they also move for the small town feel with big city perks. They can even get to those bigger cities, like Philly and New York City, within an hour,” says Charlie Wu, a real estate agent with Queenston Realty, who’s been in the area since 2004. “People feel like they can grow here, that’s why they want to stay for a long time.”
Plus, the strong presence of pharmaceutical and financial companies means that local employment opportunities aren’t limited to academia. Realtors mention that some people choose to work in Manhattan, commuting via the Princeton Junction rail station. With growth comes debate: since 2020, the city has been experimenting with a new ordinance that allows an additional property to be built on a home’s lot and sold as a condominium, therefore expanding supply but also increasing local density.
The Nassau Diner in Princeton, NJ is the perfect spot for breakfast, lunch, or dinner.
Princeton High School stands out with its iconic architecture and massive clocktower.
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Historic homes experiencing contrast with modern construction
Despite the newer, modern construction that’s been rising since 2020, much of Princeton has a historic look. Tudor homes are prevalent, and so are Victorians. It’s even possible to find midcentury styles. But regardless of the style, Princeton is considered a competitive market. The median price for a home is around $850,000, more than double the national median. The accessory dwelling unit ordinance adopted in 2020 intends to boost supply of affordable housing — at least in relative Princeton terms. Yard size can vary here and properties closer to downtown may have smaller lots. Going outward to the suburbs, though, it’s possible to find an acre or more of land. Overall, what Princeton’s housing market offers is a range of lifestyles: Buyers can choose to live in either an urban or suburban setting.
Downtown Princeton is home to authentic Victorian Homes.
Modern contemporary homes can be found adorning the blocks of Downtown Princeton, NJ.
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Lauded public schools on top of a world class university
Princeton University is also known for its remarkable architecture, including Nassau Hall, constructed in 1756 as a Georgian-Colonial building made of sandstone. Computer science, economics and international affairs are the top three majors at the school, which has over 5,500 undergraduates. The Institute for Advanced Studies, an acclaimed research center that once hosted Albert Einstein, is also in town.
But the education amenities don’t just stop there. “The K-12 schools are among the top in the state, people will come here for that,” says Wu. “There are also a lot of private schools to choose from. It’s a mini Boston in some sense. But more intimate, because it’s smaller.” Princeton Public Schools receives an A-plus from Niche.
Princeton University is filled with Gothic architecture.
Johnson Park Elementary School is located in the Princeton West neighborhood of Princeton, NJ.
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Lots of trails for hikers and bikers
The east end presents one of Princeton’s best outdoor recreation spots: the Delaware and Raritan Canal State Park Trail. “People can canoe and kayak, or they can hike and bike the trail,” says Wu. Adjoining the trail on the south side is the Charles H. Rogers Wildlife Refuge. Containing over 90 species of birds, it’s a great place to observe wildlife, but it has trails of its own too, snaking through the 45-acre expanse. For a big playground and plenty of athletic facilities, Community Park South is the place to go. Leagues and private lessons are on tap, too. “There are so many sports and music extracurriculars to participate in, with world famous coaches and athletes and teachers working here,” says Wu.
Welcome to Herrontown Woods Pine Forest in Princeton, NJ.
Get off the beaten path at Autumn Hill Reservation.
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Palmer Square is a walkable retail destination
Palmer Square is a walkable planned development, part of the downtown scene that includes Nassau, Witherspoon and Hulfish streets. Big brand names like Lululemon and J. Crew show up. But local boutiques are here, too, like Thomas Sweet Chocolate. Even the chains appear in historic buildings, like Starbucks on Nassau, housed in a Tudor building from 1896. Eateries inspire devoted followers. The Bent Spoon is often listed as one of the best ice cream shops in the country, thanks to innovative seasonal flavors based on Jersey produce, like summer basil. Agricola takes a farm-to-table approach, too, in a setting that manages to feel both rustic and upscale at once. Newer retail destinations create a productive rivalry, though. “Some people say there are two downtowns,” says Wu. “The Princeton Shopping Center is considered a downtown, especially because they’re continuing to develop it into a mixed-use space with housing.” Already over 40 stores exist in the outdoor mall.
Hoagie House in Downtown Princeton NJ is a great place to grab a bite to eat.
Princeton Shopping Center offers retail shopping and dining in Princeton North.
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Plenty of arts, culture and history to explore
Morven, the former governor’s mansion, is a 1750s Georgian building open for tours. But visitors can also tour the current governor’s Greek Revival mansion on Wednesdays. The McCarter Theatre Center is a community staple, especially being located on Princeton’s campus. Open since 1930, it hosts everything from concerts to traditional holiday ballets. For movies, there’s Princeton Garden Theatre. The performing arts are in the spotlight every June at The Princeton Festival, heled at Morven Museum & Garden. Jazz is highlighted as the Princeton University Jazz festival in April.
Murals at the Princeton Shopping Center inspire positivity.
Princeton North also has many retailers such as the women's clothing store, Bella Boutique.
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A rail station and Interstate 95 help out commuters
The Princeton Junction station serves New Jersey cities like Trenton and Newark, but also goes to New York City. But drivers can make use of U.S. Route 1 and Interstate 95. It takes about 90 minutes to complete the 50-mile drive to Manhattan. It takes roughly an hour to reach Philadelphia, which is 45 miles away. For commercial flights, there’s Trenton-Mercer Airport about 15 miles away and the even larger Newark Liberty International Airport. Locally, riders can use the Princeton Municipal Bus Service, which connects with the New Jersey Transit system for lines that go out of town.
A stable overall crime rate across the city
According to Princeton Police Department data, violent crime trended downward from 2020 to 2022. But according to state police data, the overall number of crimes in the city stayed flat from 2020 to 2022. On the campus of Princeton University, theft was the leading crime reported in 2023 — a trend in line with preceding years.
Written By
Paul Spencer
Photography Contributed By
Jesse Roehrer
Video By
Kevyn Harris
Interested in learning more about homes in this area?
Reach out to
Piotr Sudal,
an experienced agent in this area.
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.
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On average, homes in Princeton, NJ sell after 43 days on the market compared to the national average of 49 days. The median sale price for homes in Princeton, NJ over the last 12 months is $849,000, up 9% from the median home sale price over the previous 12 months.
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