What it's like to live in Princeton
Princeton is a small city in New Jersey with unemployment below the national average, household incomes running above the national average, crime rates well below the national average, and a highly educated workforce. Those factors carry real weight for anyone weighing where to move next.
The tradeoffs are worth naming plainly. Princeton deals with rent well above the national average, home prices well above the national average, cold winters, and fewer dining and entertainment options than a bigger city.
The good
- Low unemployment
- Higher-than-average incomes
- Low crime rates
- Highly educated workforce
- Low student-teacher ratio
The not so good
- Rent well above the national average
- High home prices
- Cold winters
- Smaller place — fewer dining and entertainment options
How Princeton compares
Median household income
Median rent (per month)
Median home value
What it takes to move to Princeton
Based on Princeton's median rent, home value and household income
To rent
$5,272
up front: first month plus a typical one-month deposit
- Income to keep rent under 30%: $105,440 a year
- 33% of Princeton renters spend 30% or more of their income on rent
To buy
$210,120
a 20% down payment on the median home
- With 10% down: $105,060
- Homes cost 5.5× the typical local household income (US: 4.1×)
Moving costs, closing costs and taxes not included.
The details
Cost of living▲ 87% above US
$2,636/mo median rent
Rent is expensive here, at $2,636 a month median and well above the national average. This is the kind of city where housing costs deserve serious budgeting before committing to a move. Home prices are steep, with a median around $1,050,600. Renting first to get a feel for the city before buying is often the more practical route.
Median home value $1,050,600 · 33% of renters cost-burdened
Job market▼ 14% below US
3.7% unemployment
Unemployment here is 3.7%, a little below the national average of 4.3%.
City-level (BLS)
Safety▼ 88% below US
41 violent crimes per 100k
Safety is genuinely one of the selling points here. Both violent and property crime run well below the national average, the kind of numbers that fade into the background after a week of living somewhere.
Property crime 560/100k · Princeton Police Department · 2025 data
Getting aroundNear US average
24 min average commute
Commutes run about average, at 24.2 minutes. Fine day to day, but it adds up over a year, and where someone lives relative to where they work starts to matter. 3 in 10 workers drive to work; 8% take public transit; 33% work from home.
How workers get to work
Climate
Summers are warm, with highs around 84°F, and winters are cold, with lows around 24°F and snow a regular occurrence. Rainfall is regular throughout the year.
Average month
30-year averages, 1991–2020
Education & workforce▲ 135% above US
85% bachelor's degree or higher
This is a highly educated city, with over half the adult population holding a college degree. That tends to shape the job market and the broader culture, and it's a solid indicator of a strong professional scene.
Schools
7 public schools inside the boundary
There are 7 public schools inside the boundary and 7 private schools. The student-to-teacher ratio is 11:1, well below the national average of 16:1. Smaller class sizes are generally a positive sign for a district.
Parks & recreation
The nearest national park or historic site is Lower Delaware National Wild and Scenic River (17 miles away). There are 8 national parks and sites within a day's drive.
Bottom line
Princeton's strongest points are unemployment below the national average and household incomes running above the national average; the main tradeoffs are rent well above the national average and home prices well above the national average. A year of median rent ($2,636/mo) equals 16% of the median household income here, less than the 21% typical nationwide. It tends to suit anyone prioritizing low crime, remote workers (33% of workers here already work from home), and college-educated professionals. It may be a harder fit for renters on a tight budget.
Other places near Princeton
All New Jersey guides →Moving to Princeton Meadows →
6 mi away · pop. 15,561
Rent $2,010/mo · Income $131,213
Compare with Princeton →Moving to Mercerville →
8 mi away · pop. 13,535
Rent $1,621/mo · Income $128,277
Compare with Princeton →Moving to Hamilton Square →
9 mi away · pop. 11,622
Rent $2,139/mo · Income $138,162
Compare with Princeton →Not sure Princeton is the one?
Put it side by side with another city.