Princeton, New Jersey, NJ
Population 30,451 · New Jersey
About Princeton, New Jersey, NJ
Princeton, New Jersey is a mid-sized city located in New Jersey with a population of 30,451 residents according to the latest US Census Bureau American Community Survey data. The median household income is $184,113 per year, which is 145% above the national median of $75,149. The median age of 27.5 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Princeton, New Jersey features a median home value of $1,040,400, which is 325% above the national median of $244,900. This places Princeton, New Jersey in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,448, 110% above the national average of $1,163/month. Of the 9,737 total housing units, 56% are owner-occupied (5,043 units) and 44% are renter-occupied (3,959 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Princeton, New Jersey shows an unemployment rate of 4.5%, which is near the national rate of 3.7%. The poverty rate stands at 6.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Princeton, New Jersey have an average one-way commute time of 24.1 minutes.
Education & Demographics
84.6% of Princeton, New Jersey residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 1.6% White, 1.9% Hispanic or Latino, 1.6% Black or African American, and 4.4% Asian residents, with 29.9% of the population being foreign-born.
How Princeton, New Jersey Ranks in New Jersey
Cost of Living in Princeton, New Jersey, NJ
Compared to national averages, Princeton, New Jersey has a median household income of $184,113 (145% above the national median of $75,149). Home values average $1,040,400, which is 325% above the national median. Monthly rent at $2,448 is 110% above the US average of $1,163. Within New Jersey, Princeton, New Jersey's income is 59% above the state average of $115,667, and home values are 122% above the state median of $469,644.
Why Live in Princeton, New Jersey, NJ?
Princeton, New Jersey offers a strong local economy with a median household income of $184,113, well above the national average, and a well-educated community where 84.6% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.8%, better than the national average. Additionally, the city features short commute times averaging just 24.1 minutes.
Potential considerations include a competitive housing market where the typical home costs $1,040,400. However, Princeton, New Jersey’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Princeton, New Jersey has a population of 30,451 with a median age of 27.5 years. Compare Princeton, New Jersey with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Princeton, New Jersey
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Westfield | 30,760 | $212,700 | $930,500 | Compare |
| Rahway | 29,748 | $90,852 | $362,300 | Compare |
| Englewood | 29,342 | $101,398 | $497,500 | Compare |
| Long Branch | 32,184 | $73,381 | $519,000 | Compare |
| Garfield | 32,502 | $75,701 | $454,300 | Compare |
| Bergenfield | 28,269 | $124,083 | $469,200 | Compare |
| Old Bridge | 28,015 | $106,934 | $457,800 | Compare |
| Millville | 27,432 | $67,190 | $199,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Princeton, New Jersey With Other Cities
Frequently Asked Questions about Princeton, New Jersey
What is the population of Princeton, New Jersey, NJ?
The population of Princeton, New Jersey, NJ is 30,451 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in New Jersey.
What is the median household income in Princeton, New Jersey?
The median household income in Princeton, New Jersey, NJ is $184,113 per year, which is 145% above the national median of $75,149.
What is the median home value in Princeton, New Jersey?
The median home value in Princeton, New Jersey, NJ is $1,040,400, which is 325% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Princeton, New Jersey?
The median monthly rent in Princeton, New Jersey, NJ is $2,448, which is 110% above the national average of $1,163/month.
What is the unemployment rate in Princeton, New Jersey?
The unemployment rate in Princeton, New Jersey, NJ is 4.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Princeton, New Jersey, NJ a good place to live?
Princeton, New Jersey offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 30,451 and a median age of 27.5, the city appeals to young professionals and families.
How educated is Princeton, New Jersey, NJ?
84.6% of residents in Princeton, New Jersey aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Princeton, New Jersey?
Key cost-of-living indicators for Princeton, New Jersey, NJ: median home value is $1,040,400 (325% above national), median rent is $2,448/month, and median household income is $184,113. The home-value-to-income ratio is 5.7x, a moderate figure by national standards.
What is the poverty rate in Princeton, New Jersey?
The poverty rate in Princeton, New Jersey, NJ is 6.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Princeton, New Jersey, NJ?
Princeton, New Jersey's population is 1.6% White, 1.9% Hispanic or Latino, 1.6% Black or African American, 4.4% Asian, and 6.1% two or more races. 29.9% of residents are foreign-born.