Rent in Princeton, NJ at a glance
2-bedroom rent (HUD)
$1,950$23,400 a year · HUD fiscal year 2026From October 1, 2026: $2,242 (+15%)How much rent can you afford in Princeton, NJ?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
Rent in Princeton, NJ by bedroom, and the pay it takes
Income needed keeps rent at 30% of gross pay; the hourly figure assumes one full-time job, 2,080 hours a year.
| Size | A month | A year | Income needed | Hourly wage needed |
|---|---|---|---|---|
| Studio | $1,344 | $16,128 | $53,760 | $25.85/hr |
| 1 bedroom | $1,545 | $18,540 | $61,800 | $29.71/hr |
| 2 bedroomsMost searched | $1,950 | $23,400 | $78,000 | $37.50/hr |
| 3 bedrooms | $2,338 | $28,056 | $93,520 | $44.96/hr |
| 4 bedrooms | $2,670 | $32,040 | $106,800 | $51.35/hr |
Cost of living in Princeton, NJ: income, prices and a budget →
Living and working in Princeton, NJ
Rent in Princeton, NJ: common questions
How much is rent going up in Princeton, NJ in 2027?
HUD's Fair Market Rent for fiscal 2027, which takes effect October 1, 2026, is $2,242 for a two-bedroom, up 15% from $1,950. A one-bedroom goes from $1,545 to $1,764, a studio from $1,344 to $1,561.
These are HUD's estimates of what a typical recently rented unit costs, used for housing vouchers. A landlord's increase on your lease follows your lease and your state's rules, not this figure.
What is the average rent in Princeton, NJ?
HUD's Fair Market Rent for 2026 is $1,545 for a one-bedroom and $1,950 for a two-bedroom, utilities included. That is $23,400 a year for the two-bedroom.
It is not an average of current listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so asking rents on newer places usually run higher.
How much do you need to make to afford rent in Princeton, NJ?
To keep a $1,950 two-bedroom at 30% of gross pay, one full-time worker needs $37.50 an hour, or $78,000 a year. A one-bedroom at $1,545 takes $29.71 an hour.
How much is a 1, 2 or 3-bedroom apartment in Princeton, NJ?
At HUD's 2026 Fair Market Rent: studio $1,344, one bedroom $1,545, two $1,950, three $2,338 and four $2,670 a month.
Is rent affordable in Princeton, NJ?
For the typical household, earning $192,079 a year ($16,007 a month, Census ACS), a two-bedroom at $1,950 takes 12.2% of income. Under 30% is the usual line for affordable; this is under it.
How is the income needed for rent worked out?
Rent for a year divided by 0.30, the share of gross income HUD treats as affordable: ($1,950 × 12) ÷ 0.30 = $78,000. Divided by 2,080 working hours, that is $37.50 an hour.