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 a population of 1,418, 594 total housing units (homes and apartments), and a median house value of $215,811, house prices in Princeton are solidly below the national average.
Single-family detached homes are the single most common housing type in Princeton, accounting for 60.49% of the town's housing units. Other types of housing that are prevalent in Princeton include duplexes, homes converted to apartments or other small apartment buildings ( 23.25%), mobile homes or trailers ( 13.98%), and a few row houses and other attached homes ( 1.28%).
People in Princeton primarily live in small (one, two or no bedroom) single-family detached homes. Princeton has a mixture of owner-occupied and renter-occupied housing.
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 1940-1969 ( 30.10%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.98%). There's also some housing in Princeton built before 1939 ( 10.70%).
Vacant housing appears to be an issue in Princeton. Fully 15.26% of the housing stock is classified as vacant. Left unchecked, vacant Princeton homes and apartments can be a drag on the real estate market, holding Princeton real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Princeton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.50% during the period.
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 -1.87%, 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 1.24%, which equates to an annual appreciation rate of 5.07%.
Relative to North Carolina, our data show that Princeton's latest annual appreciation rate is lower than 90% of the other cities and towns in North Carolina.
$215,811
for North carolina
for nation
594
$1,558 / per month