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Princeton

Learn about the people, housing, costs and businesses in Princeton, Illinois

Median Home$139,592
Median Rent$788/month
Population7,789
Leading IndustriesConstruction · Agriculture & Mining · Transportation5% construction
Home Value Growth⬆⬆+14.2% over 2 years
Retirees26% of residentsabove average nationally
Homeowners71% of occupied units
NotableAmenity Score74/100 · highly walkable area
NotableTransit79/100 · excellent transit access
Princeton
IL

Frequently Asked Questions

What are today's mortgage rates in Princeton?

As of today, the 30-year fixed mortgage rate for Princeton is approximately 7.318% (7.334% 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 Princeton?

The median home value in Princeton is $140k. The median monthly rent is $788. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Princeton?

Home values in Princeton have increased 14.2% over the past two years. This indicates a strong appreciation trend. 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 Princeton?

Based on a typical all-in ownership cost of $874/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $37k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Princeton is $64k/year.

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What industries drive the economy in Princeton?

The largest employment sectors in Princeton are public administration (24%) and retail (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.