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Studio Apartment for Rent in Princeton, MN

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    Starting at $1,125 Plus Fees

    • Studio - 2 Beds

    107 19th Ave S, Princeton, MN 55371

    New construction building in Princeton, MN slotted to open May 2025. Studio, 1 and 2 bedroom spacious units. Attached garages for an additional $195 per month. Detached fully finished garage storage with electric, in floor heat and water options. The detached garages have all kinds of sizes for anything you can think of-truck, boat, RV and more. Contact us today to get more information and

    Princeton Residential Suites

    (763) 317-0384

    107 19th Ave S, Princeton, MN 55371

Why Live in Princeton

Princeton, MN, is a growing town of approximately 5,400 residents, situated along the scenic Rum River. Known for its small-town charm, Princeton has evolved from its agricultural and lumber roots into a commuter-friendly community within reach of the Twin Cities. The town features a variety of housing styles, including early 20th-century farmhouses, Craftsman-style homes, midcentury cottages, ranch-style homes, and new traditional builds. Residents enjoy ample green spaces, with Riverside Park offering campsites, a boat launch, and fishing access, while Mark Park provides a playground, splash pad, and sports courts. The Princeton Ice Arena allows for year-round ice skating, and the Kunkel Wildlife Management Area is popular for wildlife spotting and hunting. Princeton Public Schools serve the area, with Princeton High School offering six career academies. The town is well-connected via State Route 95 and U.S. Route 169, making commutes to St. Cloud, Cambridge, and the Twin Cities convenient. Local attractions include a traditional downtown area, a weekly farmers market, and popular dining spots like Merlin’s Family Restaurant. Princeton hosts several community events, such as the Rum River Festival and Light Up Princeton, fostering a strong sense of community.

Frequently Asked Questions

How much does it cost to rent a home in Princeton, MN?
The median rent for a home in Princeton, MN is $1,200 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option.
How much do you need to make to afford rent in Princeton, MN?
To comfortably afford the median rent in Princeton, MN, a household needs to earn roughly $48,000 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 $1,200 per month in Princeton, MN, renters typically need to show $3,600 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, MN?
In Princeton, MN, the price-to-rent ratio is 24.3, 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 Home Trends in Princeton, MN

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,200
Median Condo Rent
$1,200
How to Rent a Home