Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 5,311 people, 1,973 houses or apartments, and a median cost of homes of $261,705, Princeton real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Princeton, accounting for 52.96% of the city's housing units. Other types of housing that are prevalent in Princeton include large apartment complexes or high rise apartments ( 25.25%), row houses and other attached homes ( 14.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.29%).
The most prevalent building size and type in Princeton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.57% owning and 44.43% renting.
There is a lot of housing in Princeton built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Princeton built between 2000 and later ( 24.31%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.36%). There's also some housing in Princeton built before 1939 ( 15.68%).
Appreciation rates for homes in Princeton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 99.42%, which ranks in the top 40% nationwide. This equates to an annual average Princeton house appreciation rate of 7.15%.
Over the last year, Princeton appreciation rates have trailed the rest of the nation. In the last twelve months, Princeton's appreciation rate has been 0.27%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Princeton were at 2.27%, which equates to an annual appreciation rate of 9.37%.
Relative to Minnesota, our data show that Princeton's latest annual appreciation rate is lower than 90% of the other cities and towns in Minnesota.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Princeton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Princeton - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Princeton real estate investment or home purchase decisions.
$261,705
for Minnesota
for nation
1,973
$1,455 / per month