The Alice
365 Terhune Rd,
Princeton, NJ 08540
1-3 Beds | $2,990 - $6,904
Rental Market Trends in Princeton, NJ
What is the average rent in Princeton, NJ?
$2,689/month
Average Rent
888 Sq Ft
Average Apartment Size
+0.8%
Increase in the Last Year
As of February 2025, the average rent in Princeton, NJ is $2,689 per month. This is 73% higher than the national average rent price of $1,557/month, making Princeton one of the most expensive cities in the US. When you rent an apartment in Princeton, you can expect to pay about $2,947 per month for a studio, $2,689 for a one-bedroom apartment, and around $3,467 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,903 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Princeton, NJ?
In the past year, rent has increased by 0.8%, which averages out to $21 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated February 2025
Legend
2024
2025
Rent Ranges in Princeton, NJ
Last Updated February 2025
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
5%
$1,001 - $1,500/month
11%
$1,501 - $2,000/month
84%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Princeton?
Based on current rent prices, Princeton/Lawrenceville and Downtown Princeton" are the most affordable neighborhoods in Princeton.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Princeton?
Based on current rent prices, Downtown Princeton and Princeton/Lawrenceville" are the most expensive neighborhoods in Princeton.
Neighborhood
Average Rent
Average Sq Ft
Which Princeton neighborhoods have the most rentals available?
The neighborhoods in Princeton with the most apartments available are Princeton/Lawrenceville and Downtown Princeton" .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Princeton, NJ?
Because the average rent in Princeton is $2,689, you’ll want to make about $8,963 per month or $107,556 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Princeton, NJ compare to other nearby cities and neighborhoods?
Use the tool below to compare Princeton, NJ to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$5,135/month
$2,472/month
One Bedroom
$2,269/month
$3,498/month
Two Bedroom
$2,991/month
$4,145/month
Three Bedroom
$3,215/month
$5,253/month
Apartment communities in Princeton we think you'll love
Property Management Companies in Princeton, NJ
AvalonBay
-
191
Communities
-
66,423
Units
-
127
Cities
3 Communities in Princeton
Greystar
-
3,234
Communities
-
894,437
Units
-
830
Cities
1 Community in Princeton
Winn Companies
-
134
Communities
-
27,563
Units
-
92
Cities
1 Community in Princeton
Inland Real Estate
-
78
Communities
-
19,661
Units
-
57
Cities
1 Community in Princeton
Cammeby's
-
71
Communities
-
18,555
Units
-
50
Cities
1 Community in Princeton
Garden Communities
-
72
Communities
-
20,842
Units
-
48
Cities
1 Community in Princeton
Living Residential LLC
-
14
Communities
-
3,238
Units
-
13
Cities
1 Community in Princeton
Apartments Seldom Scene
-
11
Communities
-
3,363
Units
-
11
Cities
1 Community in Princeton
Learn More with Helpful Articles
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.