Is Princeton, NJ expensive?

Yes. In ZIP 08540, Zillow's typical single-family home value was about $1.05 million in September 2026, and the most expensive third of homes was valued at about $1.64 million and above. New Jersey's 2025 average residential tax bill in Princeton was $23,373. West Windsor and Pennington nearby cost less, and Bucks County across the river generally has lower property taxes.

Can you live in Princeton and work in New York City?

Yes, and many residents do. The Dinky shuttle connects Princeton station with Princeton Junction, where express NJ Transit trains reach New York Penn Station in about 55 minutes. A monthly pass from Princeton station costs $607 at fares effective July 1, 2026. Driving to Midtown takes about 1 hour 20 minutes without traffic.

Is Princeton, NJ a Good Place to Live?

Q: Is Princeton, NJ a good place to live?

For buyers who want a walkable town with real culture, strong public schools, and a train to New York, yes. Princeton has Palmer Square and Nassau Street, Princeton Public Schools, miles of canal and lake trails, and the Dinky to Princeton Junction. The trade-offs are high home prices and some of the highest property tax bills in the region.

Yes, Princeton is a good place to live if you want a walkable town with real culture, strong public schools, and a train to New York. It has a true downtown around Palmer Square and Nassau Street, Princeton Public Schools, and miles of trails along Lake Carnegie and the Delaware & Raritan Canal. The trade-offs are cost: home prices around $1 million and some of the highest property tax bills in the region.

A university town with a downtown

Princeton is home to about 30,700 people, according to the 2020 Census, and to Princeton University and the Institute for Advanced Study. The university shapes daily life in the best ways: lectures, concerts, the art museum, and McCarter Theatre Center, which won the Regional Theatre Tony Award in 1994. Palmer Square, built in the 1930s, and Nassau Street give the town shops and restaurants within walking distance of many homes. Since April 2026, a free Loop Express bus links Princeton Shopping Center with the Dinky station.

Schools

Princeton Public Schools enrolled about 4,100 students in October 2025 across four elementary schools, Princeton Middle School, and Princeton High School, which also serves Cranbury’s high school students. U.S. News ranked Princeton High School 55th in New Jersey in its 2025-26 list. Families also have a wide choice of private and independent schools in and around town.

Daily life

Trails and water: Lake Carnegie, created in 1906 for the university’s rowers, and the canal towpath offer flat miles for running, walking, and cycling.
History: Princeton Battlefield State Park preserves the site of the January 3, 1777 battle.
Space nearby: Mercer County Park in West Windsor covers more than 2,500 acres, and the Hopewell Valley’s preserved farms are about 15 minutes away.

What homes cost

In ZIP 08540, Zillow’s typical single-family home value was about $1.05 million in September 2026, up about 3 percent in a year. Across all home types, the least expensive third of homes was valued at about $588,000 and the most expensive third at about $1.64 million. Older homes close to town, condominiums and townhomes, and estates in the Western Section all trade here, so the range is wide.

Getting around

To New York: take the Dinky to Princeton Junction, about 5 minutes, then an express train to New York Penn Station in about 55 minutes. A monthly pass costs $607 from Princeton station at 2026 fares. Suburban Transit’s Line 100 bus also runs to the Port Authority Bus Terminal.
By car, Midtown is about 1 hour 20 minutes and Center City Philadelphia about 1 hour 5 minutes without traffic.

Things to weigh

Property taxes: Princeton’s 2025 average residential tax bill was $23,373, among the highest in Mercer County.
Selling later: since July 2025, New Jersey sellers of homes over $1 million pay a graduated fee starting at 1 percent of the full price.
Historic district rules can limit exterior changes in parts of town.
University calendar: move-in, reunions, and commencement bring traffic and full restaurants a few weekends a year.

Who Princeton is right for

Princeton suits buyers who want to walk to dinner, value a university town’s culture, and need a reliable train to New York. Buyers who want more land or a lower tax bill often compare it with West Windsor, the Hopewell Valley, or Yardley across the river in Pennsylvania. The Princeton community page has current listings, and the guide to moving from New York City to Bucks County or Princeton compares the whole region.

Working with Karen

Karen Langsfeld is a REALTOR® with Berkshire Hathaway HomeServices Fox & Roach, licensed in New Jersey and Pennsylvania. She helps New York buyers compare Princeton with the towns around it on commute, taxes, and schools, and helps Princeton sellers price against the sales that truly compare.

Contact Karen at (215) 495-2914 or through the contact page.

Home values: Zillow Home Value Index, September 2026. Population: 2020 Census. Schools: New Jersey Department of Education (October 2025 enrollment) and U.S. News 2025-26. Taxes: New Jersey Division of Taxation, 2025. Fares: NJ Transit, effective July 1, 2026. Drive times are estimates without traffic.