Cost of Living in Princeton, IN
Population 8,347 · Indiana · Data vintage 2023
(100 = US avg)
Under 25,000 residents gives Princeton a small-town character that shows up in every data point below — from the commute patterns to the rental inventory. A typical home runs $117,000.
Geographically, Princeton is about 25 miles north of Evansville, the nearest large metro. Median home values run roughly 9% lower than Evansville's $129,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Princeton
The median home value in Princeton is $117,100 — 62% below the national median of $305,000. Median rent runs $892/month, 32% lower than the national median of $1,314/month. The median household income of $57,234/year is 23% lower than the US median of $74,580. The local unemployment rate is 3.8%, below the national average of 4.8%. Indiana's top state income tax rate is 3.0% and the combined sales tax is 7.0%. Overall, Princeton has a cost of living index of 50 versus the US average of 100, meaning it is 50% less expensive.
Princeton has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Princeton, IN?
Princeton has a cost index of 50 (100 = national average). It is 50% below the national average.
What is average rent in Princeton, IN?
The median gross rent in Princeton is $892 per month based on 2023 Census data.
What is the average home price in Princeton?
The median home value in Princeton is $117,100 according to Zillow and Census data.
What is the median income in Princeton?
The median household income in Princeton is $57,234 per year (2023 ACS 5-year estimates).
What is the sales tax in Princeton, IN?
The combined state and local sales tax rate in Princeton is 7.0%. The Indiana state income tax top rate is 3.0%.
Is Princeton, IN affordable?
Yes, Princeton is generally considered affordable, with a cost of living index of 50 — about 50% below the US national average of 100.
Princeton at a Glance
- Population
- 8,347
- Median Income
- $57,234
- Home Value
- $117,100
- Median Rent
- $892/mo
- Unemployment
- 3.8%
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Indiana Rankings
Similar Cost Cities
Cities in other states with comparable housing costs