Princeton, MN demographics:
population, income, and more

Total population
5,274
5.7% year-over-year change
Median household income
$62,219/yr
18.6% year-over-year change
Housing units
2,238
4.9% year-over-year change

Princeton population

How many people live in Princeton

Princeton is home to 5,274 residents, according to the most recent Census data. Gender-wise, 49.5% of Princeton locals are male, and 50.5% are female.

Total population
5,274
5.7% year-over-year change
Gender ratio
Male
49.5%
2,610
Female
50.5%
2,664
Value Percent YoY change
Male 2,610 49.5% 8.2%
Female 2,664 50.5% 3.4%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in Princeton is 39, with the population distributed as follows: about 16.2% are children under 15, then 13.5% are in the 15 to 24 age group. Adults between 25 and 44 make up 26.4% of the population, while another 19.5% fall into the 45 to 64 bracket. Finally, around 24.4% are 65 or older.

Median age
39.4
Age breakdown
Under 15
16.2%
15 to 24
13.5%
25 to 44
26.4%
45 to 64
19.5%
Over 65
24.4%
Value Percent YoY change
Under 15 855 16.2% 5.6%
15 to 24 712 13.5% 11.2%
25 to 44 1,394 26.4% 7.0%
45 to 64 1,027 19.5% -7.0%
Over 65 1,286 24.4% 13.7%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In Princeton, 98.8% of the population are US-born citizens, while 0.4% have gained naturalized citizenship. At the same time, 0.8% of residents are non-citizens. As for race, 96.1% of locals are Caucasian, 0.3% are African American and 0.8% have Asian roots. There’s also a share of 1.8% that includes residents with two or more races.

Citizenship
U.S.-born citizens
98.8%
Non-U.S.-born citizens
0.4%
Non-citizens
0.8%
Value Percent YoY change
U.S.-born citizens 5,212 98.8% 5.4%
Non-U.S.-born citizens 20 0.4% 100.0%
Non-citizens 42 0.8% 35.5%
Racial breakdown
White
96.1%
Black or African American
0.3%
American Indian and Alaska Native
1%
Asian
0.8%
Native Hawaiian and other Pacific Islander
0%
Two or more races
1.8%
Other
0%
Value Percent
White 5,069 96.1%
Black or African American 14 0.3%
American Indian and Alaska Native 53 1%
Asian 42 0.8%
Two or more races 96 1.8%

Households in Princeton

A peek inside Princeton households

Princeton has 2,039 households, with an average of 3 members in each. Of these, 61.3% are families, while the remaining 38.7% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
2,039
-2.6% year-over-year change
Average people per household
3
Non-family households
790
Family households
1,249
Value Percent YoY change
Non-family households 790 38.7% -13.5%
Family households 1,249 61.3% 5.8%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in Princeton

The housing landscape of Princeton

Princeton's housing consists of 2,238 units, with 56% being detached single-family homes ideal for those wanting space. Attached options, including duplexes and townhouses, make up 12.8% and offer a more compact, shared living style. Then there are the multifamily buildings in the area, and for those seeking flexibility, non-traditional options like mobile homes account for 7.6% of the housing landscape.

Housing units
2,238
4.9% year-over-year change
Housing types
Value Percent
1 unit, detached 1,253 56%
1 unit, attached 286 12.8%
2 units 31 1.4%
3 or 4 units 68 3%
5 to 9 units 101 4.5%
10 to 19 units 115 5.1%
20 to 49 units 182 8.1%
50 or more units 33 1.5%
Mobile home 169 7.6%
Homes built since 2020
15
50.0% year-over-year change

The age of buildings in Princeton

In Princeton, the median construction year is 1974. About 21.1% of homes were built before the 1940s, with another 4.3% going up by 1949. Most development happened in the second half of the 20th century. Then, 14.2% of homes were added from 2000 to 2009, 5.7% between 2010 and 2019, and 0.7% are part of the newest wave of development.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 473 21.1% 17.7%
Built between 1940 and 1949 96 4.3% 43.3%
Built between 1950 and 1959 177 7.9% 73.5%
Built between 1960 and 1969 183 8.2% -12.0%
Built between 1970 and 1979 443 19.8% -2.6%
Built between 1980 and 1989 190 8.5% 38.7%
Built between 1990 and 1999 214 9.6% -11.2%
Built between 2000 and 2009 319 14.2% -21.0%
Built between 2010 and 2019 128 5.7% 18.5%
Built in 2020 or later 15 0.7% 50.0%
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

Princeton occupancy rates

Out of the 2,039 occupied housing units in Princeton, 62.1% are owner-occupied, while 37.9% are lived in by tenants. Meanwhile, 8.9% of all homes on the local market sit vacant.

Occupied housing units
2,039
-2.6% year-over-year change
Occupancy breakdown
Renter occupied
772
Owner occupied
1,267
Value Percent YoY
change
Renter occupied 772 37.9% -12.9%
Owner occupied 1,267 62.1% 5.0%
Unoccupied housing units
8.9%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

Princeton housing costs

Housing costs in Princeton come to a median of $1,023 per month, while tenants specifically pay a median gross rent of $991.

Median housing costs per month
$1,023/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.
Median gross rent in Princeton
$991/month
Gross rent gives a more complete look at what renters actually pay, including not just base rent, but also utilities and fees. It’s a key number for evaluating rental affordability in your area of interest and understanding how it compares to nearby locations.

Education in Princeton

Princeton education at a glance

About 54.9% of the population in Princeton went to high school, while 18.7% pursued college studies. Another 12.1% earned an associate degree and 8.9% hold a bachelor’s. Meanwhile, 4.2% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
No high school 49 1.1% -29.0%
High school diploma 2,360 54.9% 13.9%
College diploma 803 18.7% -7.0%
Associate degree 519 12.1% -13.6%
Bachelor's degree 384 8.9% 21.9%
Graduate degree 182 4.2% -2.1%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in Princeton

How much people earn in Princeton

The average annual household income in Princeton was $79,276 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a +9.5% change from the previous year. At the same time, the median income stood at $62,219, reflecting a +18.6% shift over the same period.

Average household income in Princeton
$79,276/year
9.5% year-over-year change
Median household income in Princeton
$62,219/year
18.6% year-over-year change

Princeton income by age

In Princeton, households led by residents aged 25 to 44 — usually in the early to mid stages of their careers — have a median income of $78,333. Those with someone between 45 and 64 in charge, often well established professionally, earn $95,586 overall. Younger households, where the main provider is under 25 and just starting out, report a median income of $46,625, while those led by someone over 65, many of whom may be retired, have about $47,939 in earnings. Overall, 91.4% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
Under 25 $46,625 21.2%
25 - 44 $78,333 18.9%
45 - 64 $95,586 -18.0%
Over 65 $47,939 13.4%
Above poverty level
4,664
Below poverty level
441
Value Percent YoY
change
Above poverty level 4,664 91.4% 6.0%
Below poverty level 441 8.6% -1.1%

Average renter income in Princeton

To get a better sense of what renters earn on average in Princeton, their median household income was $36,875 according to 2022 Census data. In addition, the rent-to-income ratio in the area, at 32.2%, shows what portion of their earnings goes toward housing expenses.

Renter median household income
$36,875
Rent-to-income ratio
32.2%
Understanding the rent-to-income ratio can help renters gauge if local housing costs align with their earnings. A ratio under 30% usually signals affordability, while exceeding this mark means rent is taking a larger-than-recommended bite out of income. That could make it harder for you to cover other costs like transportation, healthcare, or child care.

Employment in Princeton

Workforce and job types in Princeton

The job market in Princeton is powered by 2,636 working residents, spread across a range of industries and roles. 67.8% of the working population are employed in professional or administrative positions, while 32.2% are in hands-on or service-based jobs. Also, 2.1% run their own businesses, 78.4% are employed by private companies, and 12.3% work in the public sector.

Workforce demographics

Working population
2,636
1.1% year-over-year change
White collar
1,788
Blue collar
848
Value Percent YoY change
White collar 1,788 67.8% 2.6%
Blue collar 848 32.2% -1.9%
Employer type
Self employees
2.1%
Private companies
78.4%
Governmental workers
12.3%
Not for profit companies
7.1%
Value Percent YoY change
Self employees 56 2.1% -24.3%
Private companies 2,067 78.4% 1.1%
Governmental workers 325 12.3% -0.9%
Not for profit companies 188 7.1% 17.5%
Unemployment rate
1.6%
5.0% year-over-year change

Available workforce

The unemployment rate in Princeton stands at 1.6%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in Princeton

How people get around in Princeton

Commuting methods vary: 93.2% of residents travel by personal vehicle and 0.6% prefer to walk, while the remaining share relies on public transit or on two wheelers to get from A to B.

Means of transportation
Value Percent YoY change
Car 2,434 93.2% 4.7%
Taxicab 6 0.2% N/A
Bus or trolleybus 12 0.5% -88.1%
Ferryboat 15 0.6% 15.4%
Walk 16 0.6% -56.8%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

What is the median and average household income in Princeton by zipcode?

Zipcode Population Number of households Median income Average income
55371 18,103 6,440 $93,824 $103,750

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FAQs about Princeton demographics 

What is the total population of Princeton?

Princeton has a total population of 5,274 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by +5.7% compared to a year ago.

What is the gender ratio in Princeton?

The gender ratio in Princeton is as follows:
  • 49.5% males (2,610 residents)
  • 50.5% females (2,664 residents)

What is the median age in Princeton?

The median age in Princeton is 39.4.

What is the age distribution of the population in Princeton?

The age distribution in Princeton is as follows:
  • Under 15: 16.2% (855 residents)
  • Ages 15-24: 13.5% (712 residents)
  • Ages 25-44: 26.4% (1,394 residents)
  • Ages 45-64: 19.5% (1,027 residents)
  • Over 65: 24.4% (1,286 residents)

What is the racial and ethnic makeup of Princeton?

The racial and ethnic makeup of Princeton is as follows:
  • White: 96.1% (5,069 residents)
  • Black or African American: 0.3% (14 residents)
  • American Indian and Alaska Native: 1% (53 residents)
  • Asian: 0.8% (42 residents)
  • Native Hawaiian and Other Pacific Islander: 0% (0 residents)
  • Two or More Races: 1.8% (96 residents)
  • Other: 0% (0 residents)

What percentage of the population in Princeton are U.S.-born citizens?

U.S.-born citizens represent 98.8% of the population in Princeton.

How many housing units are there in Princeton?

There are 2,238 housing units in Princeton, reflecting a +4.9% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in Princeton and what is the average household size?

Princeton has a total of 2,039 households, with an average of 3 people in each.

What is the median household income in Princeton?

Princeton has a median household income of $62,219, representing a +18.6% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for Princeton?

The employment rate is 98.4% in Princeton, with a workforce of 2,636 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 67.8% (1,788 residents)
  • Blue-collar workers: 32.2% (848 residents)

Places of employment:
  • Self-employed: 2.1% (56 residents)
  • Private companies: 78.4% (2,067 residents)
  • Governmental workers: 12.3% (325 residents)
  • Not-for-profit companies: 7.1% (188 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025