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Pennington

Learn about the people, housing, costs and businesses in Pennington, New Jersey

Median Home$672,900
Median Rent$1,886/month
Population2,827
Leading IndustriesProfessional Services · Arts, Food & Hospitality · Healthcare3% professional services
Home Value Growth+5.3% over 2 years
Family-Friendly22% of residents
Homeowners82% of occupied units
NotableHigh Incomes$193k/year · top 1% nationally
NotableAmenity Score68/100 · highly walkable area
Pennington
NJ

Frequently Asked Questions

What are today's mortgage rates in Pennington?

As of today, the 30-year fixed mortgage rate for Pennington is approximately 6.849% (6.883% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Pennington?

The median home value in Pennington is $673k. The median monthly rent is $1,886. Annual property taxes average $10k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Pennington?

Home values in Pennington have increased 5.3% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Pennington?

Based on a typical all-in ownership cost of $2,546/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $109k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Pennington is $193k/year.

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What industries drive the economy in Pennington?

The largest employment sectors in Pennington are public administration (28%) and healthcare (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.