Market Overview
Home Prices in Pennington, NJ
The median home value in Pennington, NJ is $689,312 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.5% compared to a year ago and up 1.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Pennington are priced68% above average. Pennington is part of the Trenton-Princeton, NJ metro area.
Over the past five years, Pennington home values have risen by approximately33.7%, reflecting strong long-term appreciation in this market.
Price History
Pennington Home Price Trend
City Comparison
Pennington vs. National Median
At $689,312, homes in Pennington cost 68% above the national median of $410,000. Buyers in Pennington should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Pennington?
20% Down Payment
$137,862
on $689,312
Monthly P&I
$3,595/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,566/mo
incl. taxes & insurance
Income Needed
$182,640
gross annual (30% rule)
10% Down Option
$68,931
+ PMI applies
Loan Amount (20% dn)
$551,450
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 Pennington, NJ?
The median home value in Pennington is $689,312 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.5% year-over-year.
How much have home prices changed in Pennington?
Over the past year, home values in Pennington have increased by 1.5%. Over five years, prices have risen approximately 33.7%.
How much do I need to earn to buy a home in Pennington?
To comfortably afford the median home price of $689,312 with a 20% down payment ($137,862) at today's rates (6.8%), you'd need a gross annual income of approximately $182,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Pennington compare to the national average home price?
The national median home value is approximately $410,000. At $689,312, homes in Pennington are 68% above the national average.
What metro area is Pennington part of?
Pennington is part of the Trenton-Princeton, NJ metropolitan area. Home prices and market conditions can vary across the broader metro region.