At $1,972/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.
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 $1,972 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 0.7% above it in August, about $28 a month apart at today's median. Based on 5 years of data.
Rent in Princeton is 4.1% below its high of $2,056 in May 2023, at $1,972 as of September 2026.
Rent in Princeton changed -0.4% over the year to September 2026. Across the 224 Texas cities Zillow tracks, the typical change was +1.0%.
Rent has risen 2 months in a row, and rose in 4 of the last 12 months.
30% of the median household income ($105,200) is $2,630 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,130); a 3-bedroom is $2,670.
Farmersville, 7 miles away, rents for 18% less ($1,610/mo), about $4,300 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.
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Who lives here
Princeton, TX is majority owner-occupied, has a large share of families with children, has a median income above the national average, 28.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Princeton, TX has changed in 5 years
Five years ago, renters in Princeton, TX paid around $1,914 a month. That figure now sits near $1,972, up 3.0% from the 2022 baseline. Median household income climbed from $85,548 to $105,200 between 2021 and 2024, a 23.0% shift. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show Princeton, TX adding about 8,546 residents over the five-year window, up 51.2% on net. The renter share has eased from 26.4% to 24.3%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 25.8% to 28.6% across the same window. Taken together, the five-year picture in Princeton, TX 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.
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Can you afford rent in Princeton on your salary?
At $1,972/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 $1,972/mo as of October 2026. A studio apartment averages $1,730/mo while a 2-bedroom runs $2,130/mo. One-bedroom apartments average $1,820/mo and 3-bedroom units go for $2,670/mo.
At 22% of local median household income ($105,200/yr), Princeton ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.4% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Princeton?
At $1,972/mo, rent takes ~22% of Princeton's median household income ($105,200/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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