Princeton, MN housing market
The median sale price was $345,000 in May 2026.
Home values, sales, trends and how Princeton compares with the towns next door — updated as new data is published.
Princeton at a glance
Only 3 sales in May 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Home prices up 42% in 5 years
The federal house price index for the ZIP code around Princeton rose 42% over the past 5 years, faster than across Minnesota (37%). Last year prices rose 3.1%. Carrying the Census median home value forward with that index puts the typical Princeton home at roughly $342,000 today.
Show as a table
| Year | Change that year | Since 2000 | Minnesota since 2000 |
|---|---|---|---|
| 2025 | +3.1% | +133% | +127% |
| 2024 | +2.8% | +126% | +120% |
| 2023 | +4.3% | +120% | +113% |
| 2022 | +14% | +111% | +104% |
| 2021 | +13% | +85% | +82% |
| 2020 | +2.8% | +64% | +66% |
| 2019 | +7.1% | +60% | +61% |
| 2018 | +7.7% | +49% | +55% |
| 2017 | +7.8% | +38% | +46% |
| 2016 | +7.7% | +28% | +38% |
| 2015 | +3% | +19% | +32% |
| 2014 | +13% | +16% | +28% |
| 2013 | +5% | +2.3% | +21% |
| 2012 | −3.6% | −2.6% | +16% |
| 2011 | −6% | +1.1% | +18% |
| 2010 | −12% | +7.6% | +25% |
| 2009 | −10% | +23% | +33% |
| 2008 | −10% | +37% | +42% |
| 2007 | −3.4% | +52% | +48% |
| 2006 | +4% | +57% | +49% |
| 2005 | +8.9% | +51% | +45% |
| 2004 | +8.9% | +39% | +34% |
| 2003 | +5.2% | +28% | +23% |
| 2002 | +8.2% | +21% | +18% |
| 2001 | +12% | +12% | +9.2% |
| 2000 | — | — | — |
How Princeton ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 55371, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
4 new homes permitted in 2025
Builders were permitted 4 new homes in Princeton in 2025, all in buildings with two or more homes, worth about $1 million to build. That's 0.8 per 1,000 residents, slower than across Minnesota (3.8). Over the past 10 years, Princeton has permitted 280 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Princeton gained 121 residents while 79 new homes were permitted: about 1.5 new residents per new home. Building and growth moved roughly in step. Across Minnesota: 2.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 6 | 6 | 0 | $1.7 million |
| 2025 | 4 | 0 | 4 | $1 million |
| 2024 | 78 | 6 | 72 | $10.1 million |
| 2023 | 5 | 1 | 4 | $1.3 million |
| 2022 | 12 | 0 | 12 | $2.8 million |
| 2021 | 116 | 2 | 114 | $14 million |
| 2020 | 10 | 2 | 8 | $1.7 million |
| 2019 | 32 | 2 | 30 | $5.5 million |
| 2018 | 12 | 0 | 12 | $2.1 million |
| 2017 | 9 | 1 | 8 | $1.7 million |
| 2016 | 2 | 2 | 0 | $430,000 |
| 2015 | 12 | 0 | 12 | $2.1 million |
| 2014 | 6 | 2 | 4 | $1.3 million |
| 2013 | 2 | 0 | 2 | $320,000 |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 2 | 2 | 0 | $375,000 |
| 2010 | 2 | 2 | 0 | $190,000 |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 2 | 2 | 0 | $326,000 |
| 2007 | 12 | 10 | 2 | $2 million |
| 2006 | 16 | 16 | 0 | $2.6 million |
| 2005 | 25 | 25 | 0 | $3.8 million |
| 2004 | 38 | 38 | 0 | $5.8 million |
| 2003 | 90 | 90 | 0 | $10.6 million |
| 2002 | 61 | 61 | 0 | $6 million |
| 2001 | 59 | 56 | 3 | $5.7 million |
| 2000 | 56 | 56 | 0 | $5.4 million |
How Princeton ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Princeton and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Princeton | — | +3.1%† | $1,520 | 4 | $62,219 |
| Princeton | $378K | +2.7% | $1,520 | 10 | $88,056 |
† FHFA price index change, where Zillow has no home value for the town.
3.5 years of income
The typical Princeton home costs about 3.5 years of the town's median household income, less than across Minnesota (3.9 years).
How Princeton ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,520
HUD's Fair Market Rent for a two-bedroom in Princeton is $1,520 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Princeton pay a median of $991, so moving in tends to cost more than staying put. A two-bedroom takes about 29% of the town's median household income.
Studio $1,100 · 4 bedrooms $2,270
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55371; Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.