Princeton, MN
Population 4,988 · Minnesota
About Princeton, MN
Princeton is a small community in Minnesota with a population of 4,988 residents. The median household income is $52,450 per year, which is near the national average. The median age in Princeton is 39.5 years.
Housing in Princeton has a median home value of $212,200 and median monthly rent of $953. Of the 2,134 total housing units, the majority are owner-occupied, with 1,207 owner-occupied and 886 renter-occupied units.
The unemployment rate in Princeton is 1.5% and the poverty rate is 9.2%. 12.9% of residents hold a bachelor's degree or higher. The average commute time is 23.5 minutes.
Cost of Living in Princeton, MN
Compared to national averages, Princeton has a median household income of $52,450 (30% below the national median of $75,149). Home values average $212,200, which is 13% below the national median. Monthly rent at $953 is 18% below the US average of $1,163. Within Minnesota, Princeton's income is 29% below the state average of $74,221, and home values are 4% above the state median of $204,472.
Why Live in Princeton, MN?
Princeton offers affordable housing with a median home value of $212,200, below the US average of $244,900, and rent that’s lower than the national average at $953/month, and a strong job market with an unemployment rate of just 1.5%. Additionally, the city features a low poverty rate of 9.2%, better than the national average, and short commute times averaging just 23.5 minutes.
Potential considerations include median household income ($52,450) that falls below the national average. However, Princeton’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Princeton has a population of 4,988 with a median age of 39.5 years. Compare Princeton with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Princeton
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Circle Pines | 4,980 | $96,477 | $277,300 | Compare |
| Becker | 4,958 | $90,188 | $257,600 | Compare |
| Lake City | 5,021 | $76,125 | $234,100 | Compare |
| Lindstrom | 4,933 | $99,844 | $336,800 | Compare |
| Elko New Market | 4,915 | $147,381 | $407,400 | Compare |
| Luverne | 4,907 | $66,145 | $181,100 | Compare |
| Redwood Falls | 5,075 | $61,947 | $162,000 | Compare |
| Morris | 5,092 | $63,807 | $185,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Princeton
What is the population of Princeton, MN?
The population of Princeton, MN is 4,988 according to the latest Census data.
What is the median household income in Princeton?
The median household income in Princeton, MN is $52,450 per year.
What is the median home value in Princeton?
The median home value in Princeton, MN is $212,200.
What is the average rent in Princeton?
The median monthly rent in Princeton, MN is $953.
What is the unemployment rate in Princeton?
The unemployment rate in Princeton, MN is 1.5%.