Moving to Princeton: Pros, Cons & What to Know

Moving to Princeton means moving to genuinely one of the most nationally recognized university towns in the country, with a real cost of entry to match -- genuinely elevated housing costs and a property-tax rate that runs above even New Jersey's own nation-leading statewide average.

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A real, unmatched university-town identity

Princeton University (Ivy League, the nation's fifth-largest endowment) and the independent Institute for Advanced Study anchor a genuine intellectual and cultural identity found in few other American towns.

Budget for genuinely elevated housing costs

Zillow's own average home value in the 08540 ZIP ran approximately $974,452, with a separately-cited median sale price near $1,389,000 -- among the highest housing costs documented anywhere in this project's New Jersey buildout.

A property-tax rate above even NJ's own high average

Princeton's own 2.51% effective property-tax rate runs above New Jersey's already nation-leading 1.88%-2.23% statewide average -- even though it is, per the same source, the lowest rate within Mercer County itself.

Key takeaways

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Read the full Princeton overview for the complete picture -- housing, taxes, climate, and who this place genuinely fits.

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Last reviewed: 2026-08-25. Independent research; not financial, tax, or legal advice -- confirm current figures with a local professional before making a decision.