salaryRent is higher than in 82% of U.S. cities. Household incomes are higher than in 97% of U.S. cities. A typical house costs about 5.1 years of household income. It is a highly educated city: 84.7% of adults have a college degree.
How much money do I need?
To rent here comfortably, you should earn about $94,440 a year. That is $45 an hour at a full-time job.
Is rent cheaper than other New Jersey cities?
No. Rent here is more expensive than in most of New Jersey. It is number 168 of 291 cities from cheapest to most expensive.
How much do households earn in Princeton?
Share of households by yearly income. 62.3% of households earn $100,000 or more.
Rent by apartment size in Princeton
| Size | Princeton | U.S. average |
|---|---|---|
| Studio | $1,736 | $1,338 |
| 1 bedroom | $1,918 | $1,324 |
| 2 bedrooms | $3,224 | $1,509 |
| 3 bedrooms | $3,662 | $1,698 |
| 4 bedrooms | $3,500+ | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Princeton overall?
Everyday prices in the Trenton-Princeton metro area are 3% above the U.S. average (index 103.2, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in Princeton
Life in Princeton
What jobs pay in Princeton
| Job | Median pay | Rent / pay |
|---|---|---|
| Operations Manager | $181,450 | 15.6% |
| Nurse Practitioner | $153,630 | 18.4% |
| Pharmacist | $138,910 | 20.4% |
| Physician Assistant | $138,880 | 20.4% |
| Lawyer | $138,760 | 20.4% |
| Software Developer | $128,770 | 22.0% |
| Computer Systems Analyst | $108,190 | 26.2% |
| Civil Engineer | $101,090 | 28.0% |
| Dental Hygienist | $100,920 | 28.1% |
| Registered Nurse | $99,990 | 28.3% |
| Accountant | $99,550 | 28.5% |
| Electrician | $98,210 | 28.8% |
| Firefighter | $88,090 | 32.2% |
| Market Research Analyst | $82,110 | 34.5% |
| Elementary School Teacher | $77,850 | 36.4% |
| Plumber | $76,360 | 37.1% |
| Licensed Practical Nurse | $75,380 | 37.6% |
| HVAC Technician | $75,240 | 37.7% |
| Police Officer | $69,160 | 41.0% |
| Carpenter | $65,690 | 43.1% |
| Truck Driver | $59,460 | 47.6% |
| Customer Service Representative | $47,590 | 59.5% |
| Nursing Assistant | $45,980 | 61.6% |
| Medical Assistant | $45,950 | 61.7% |
| Restaurant Cook | $38,400 | 73.8% |
| Server (Waiter/Waitress) | $38,070 | 74.4% |
| Warehouse Worker | $37,560 | 75.4% |
| Retail Salesperson | $36,720 | 77.2% |
| Cashier | $34,710 | 81.6% |
Is it cheaper to rent or buy in Princeton?
Renting is cheaper right now: about $4,929 a month less.
Owning assumes a typical $1,050,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $105,060 for the down payment.
Frequently asked questions
What is the average rent in Princeton, NJ?
Renting in Princeton costs a median of about $2,361 a month in 2026, including utilities. The New Jersey median is $2,240.
How much do I need to make to live in Princeton?
To keep rent under 30% of income, you need about $94,440 a year, or $45 an hour at a full-time job.
Is Princeton cheap or expensive?
Princeton is rated Cheap: rent takes 13.7% of the typical household income of $207,157. It ranks 168th cheapest of 291 New Jersey cities we track.
How much are property taxes in Princeton?
The median homeowner in Princeton pays $10,000+ a year in property taxes, about 0.95% of the median home value.
Is Princeton more expensive than the national average?
Overall prices in the metro area are 3% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Princeton?
The median home value in Princeton is $1,050,600, about 5.1 times the typical yearly household income.
30,756 people live in Princeton. Numbers are typical (middle) values.