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Princeton, IL Home for Rent

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  • 301 N 1st St, Princeton, IL 61356
    301 N 1st St, Princeton, IL 61356
    301 N 1st St, Princeton, IL 61356
    /20

    $1,200 Per Month

    • 2 Beds
    • 1 Bath
    • 890 Sq Ft
    • House for Rent

    301 N 1st St, Princeton, IL 61356

    Come check out this cute 2 bedroom 1 bath home. The home offers ample closet space, laundry room, an enclosed front porch, and an oversized 1 car garage. Just minutes from Princeton's vibrant downtown area, maybe it's just what you are looking for! Tenants are responsible for all utilities and lawn maintenance. There is an online application required for each adult.

    Kendra Gentry Landmark Realty of Illinois LLC

    301 N 1st St, Princeton, IL 61356
Illinois Bureau County

Homes for Rent in Princeton, IL

Why Live in Princeton

Princeton, located in central Illinois, is a vibrant town known for its historic architecture and active community life. As the county seat of Bureau County, Princeton features two historic Main Street commercial districts, offering a mix of unique shops and modern conveniences. The town is surrounded by farmland and is conveniently accessible via Interstate 80. Princeton hosts a variety of events throughout the year, including the annual Homestead Festival, which celebrates the town's history and the legacy of Reverend Owen Lovejoy. Other notable events include the Bureau County Fair and the Z Tour Bike Ride. The town's architecture is diverse, with a prevalence of Colonial Revival and Victorian-style homes, alongside bungalows, midcentury ranch-style homes, and contemporary residences. Acreage homes and manufactured homes are also available on the outskirts, with multi-family options like townhouses and condos. Princeton's parks, such as Zearing Park and Alexander Park, provide ample recreational opportunities, while the Bureau County Metro Center offers indoor amenities. The nearby Big Bureau Creek and Illinois River are popular for fishing and outdoor activities. Princeton's school district includes five community schools, with Princeton Township High School earning a high rating. The town is well-connected, with an Amtrak stop providing convenient access to Chicago, approximately 115 miles away, and Peoria just over 50 miles away via Illinois Route 29.

Learn more about living in Princeton

Frequently Asked Questions

How much does it cost to rent a home in Princeton, IL?
The median rent for a home in Princeton, IL is $1,150 per month, though prices vary by neighborhood, size, and property type. As of August 2026, single-family homes tend to be the most affordable option while condos are currently more expensive.
How much do you need to make to afford rent in Princeton, IL?
To comfortably afford the median rent in Princeton, IL, a household needs to earn roughly $46,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,150 per month in Princeton, IL, renters typically need to show $3,450 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Princeton, IL?
In Princeton, IL, the price-to-rent ratio is 12.6, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Trends in Princeton, IL

There are currently 1 homes available for rent in Princeton, IL. The median rent is $1,150 per month, with single-family homes renting at $950 and condos at $1,095.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,150
Median Single Family Home Rent
$950
Median Condo Rent
$1,095
How to Rent a Home

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