Rents are 3% below what Princeton's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $3,350 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in Princeton usually run 0.7% below trend in February and 0.9% above it in June, about $54 a month apart at today's median. Based on 9 years of data.
Rent in Princeton is at its highest level since Zillow's records here began in January 2016.
Rent in Princeton changed +4.2% over the year to September 2026. Across the 121 New Jersey cities Zillow tracks, the typical change was +3.1%.
From 2019 to 2024, rent in Princeton rose 29.4% while median household income rose 39.5% ($137,672 to $192,079). Income kept ahead of rent.
Rent in Princeton is 34.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 7 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($192,079) is $4,802 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($3,630).
Plainsboro, 4 miles away, rents for 35% less ($2,165/mo), about $14,200 a year in savings.
From Zillow's monthly rent index (ZORI) for Princeton. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Is your rent fair?
Compare your rent to the local median.
Who lives here
Princeton, NJ is majority owner-occupied, skews toward younger working-age adults, has a median income above the national average, 84.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Princeton, NJ has changed in 5 years
Since 2021, the typical rent in Princeton, NJ has increased from $2,623 to $3,350, a 27.7% change over five years. Median household income rose from $165,149 to $192,079 between 2021 and 2024, a 16.3% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Renters now make up 44.6% of households, compared with 41.1% five years ago. Taken together, the five-year picture in Princeton, NJ reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
Discussions about Princeton
No discussions yet. Start the conversation.
Can you afford rent in Princeton on your salary?
At $3,350/mo, how Princeton rent compares to typical pay (30% rule).
Princeton rent by bedroom count
Median rent for each apartment size in Princeton. Click any size for full breakdown.
Tips for renters in Princeton
Last updated: October 17, 2026
The median rent in Princeton is $3,350/mo as of October 2026. A studio apartment averages $1,860/mo while a 2-bedroom runs $2,690/mo. One-bedroom apartments average $2,130/mo and 3-bedroom units go for $3,240/mo.
At 21% of local median household income ($192,079/yr), Princeton ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.2% over the past year.
Frequently asked questions
How much income do you need to rent in Princeton?
Is rent going up or down in Princeton?
When is the cheapest time to rent in Princeton?
Has rent outpaced income in Princeton?
How does Princeton rent compare to other cities in New Jersey?
Which nearby cities are cheaper to rent in than Princeton?
At $3,350/mo, rent takes ~21% of Princeton's median household income ($192,079/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Estimated from ZIP-level data
Be the first to submit your rent for Princeton.
No discussions yet.