Market Overview
Home Prices in Princeton, IL
The median home value in Princeton, IL is $176,074 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.6% compared to a year ago and up 8.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Princeton are priced57% below average. Princeton is part of the Ottawa, IL metro area.
Over the past five years, Princeton home values have risen by approximately41.6%, reflecting strong long-term appreciation in this market.
Price History
Princeton Home Price Trend
City Comparison
Princeton vs. National Median
At $176,074, homes in Princeton cost 57% below the national median of $410,000. This makes Princeton a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Princeton?
20% Down Payment
$35,215
on $176,074
Monthly P&I
$918/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,166/mo
incl. taxes & insurance
Income Needed
$46,640
gross annual (30% rule)
10% Down Option
$17,607
+ PMI applies
Loan Amount (20% dn)
$140,859
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Princeton, IL?
The median home value in Princeton is $176,074 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.6% year-over-year.
How much have home prices changed in Princeton?
Over the past year, home values in Princeton have increased by 7.6%. Over five years, prices have risen approximately 41.6%.
How much do I need to earn to buy a home in Princeton?
To comfortably afford the median home price of $176,074 with a 20% down payment ($35,215) at today's rates (6.8%), you'd need a gross annual income of approximately $46,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Princeton compare to the national average home price?
The national median home value is approximately $410,000. At $176,074, homes in Princeton are 57% below the national average.
What metro area is Princeton part of?
Princeton is part of the Ottawa, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.