Are You Considering Moving to Princeton, NJ?
For those of you that don’t know, Princeton, New Jersey is a small town located in Mercer County with a population of approximately 30,000 people. The town is known for its prestigious university, Princeton University, which is a private Ivy League research university founded in 1746. The university is consistently ranked as one of the top universities in the United States and attracts students from around the world.
The town of Princeton has a rich history and was founded in the late 1600s. It was originally called Princeton Borough and was incorporated as a town in 1894. The town has a thriving downtown area with numerous restaurants, shops, and cultural attractions. The town is also home to numerous historical sites and landmarks, including the Princeton Battle Monument, which marks the site of the Battle of Princeton during the American Revolutionary War.
How is the Real Estate Market?
The real estate market in Princeton is strong, with home values consistently increasing over the years. According to Zillow, the median home value in Princeton is $932,300. This is significantly higher than the national median home value of $219,700. The high home values in Princeton are largely due to the town’s desirable location, high-quality schools, and strong economy.
One of the main factors driving the strong real estate market in Princeton is the town’s location. Princeton is situated in central New Jersey and is within commuting distance of both New York City and Philadelphia. This makes it a popular location for people who work in either of these cities but want to live in a more suburban setting.
High Quality Schools
In addition to its location, Princeton is known for its high-quality schools. The Princeton Public School District serves the town and is consistently ranked as one of the top school districts in the state. The district has a high graduation rate and students consistently score well on standardized tests. This is a major factor for families with children who are thinking of moving to Princeton, NJ.
Local Princeton Economy
The strong economy in Princeton is another factor that drives the real estate market. The town is home to a number of major corporations, including Bristol-Myers Squibb, Dow Jones & Company, and NRG Energy. These companies provide employment opportunities for residents of Princeton and contribute to the overall prosperity of the town.
Overall, the real estate market in Princeton, New Jersey is strong, with high home values and a consistent demand for housing. The town’s desirable location, high-quality schools, and strong economy all contribute to this market strength. If you are considering moving to Princeton, NJ, be prepared for the high cost of housing. The median home value is significantly higher than the national average. However, many people find that the benefits of moving to Princeton, NJ outweigh the high cost of housing, making it a desirable place to call home.
Contact Avallon Real Estate Group to discuss your moving plans today!