Home Insurance in Princeton, New Jersey
The median home value in Princeton is $1,050,600, 178% higher than the Mercer County median.
The typical home in Princeton was built around 1965. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 44% of homes were built before 1960, about 5 points above Mercer County's 38%.
In Princeton, the housing stock is 70% single-family homes and 23% apartments in buildings with 5+ units.
About 54% of owner-occupied homes in Princeton have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 55% of occupied homes in Princeton are owner-occupied. The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Princeton, 71% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Princeton? FEMA's National Risk Index points to strong wind (Very High) in Mercer County and Mercer County had 1,488 active NFIP flood policies as of September 2026. See the full Mercer County home insurance overview for all FEMA hazard ratings and flood coverage details.
In New Jersey, the statewide average premium for a standard HO-3 homeowners policy is $1,551 per year (NAIC, 2023 data).
Key figures
| Median home value | $1,050,600 |
|---|---|
| Median year built | 1965 |
| Owner-occupied share | 55% |
| Share of owner-occupied homes with a mortgage | 54% |
| Top county hazard | Strong Wind (Very High) |
| Active NFIP policies in Mercer County | 1,488 |
| Home insurance premium | $1,551 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)