Princeton, TX

Above Avg · 127

Texas · Population 20,966 · Updated March 2026

$2,059
Median Rent / Month
$96,766
Median Income
$310,700
Median Home Value
$1,934
Owner Costs / Month

Affordability

How far your income goes in Princeton

25.5%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Texas

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.25%
Sales Tax
1.6%
Property Tax Rate

Estimated Annual Costs

$24,708
Annual Rent
$0
State Income Tax
$4,971
Property Tax (est.)

Cost of Living Overview

Princeton has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 127 (where 100 equals the national median), Princeton residents can expect to pay median rent of $2,059/month while earning a median household income of $96,766/year.

The median home value in Princeton, TX is $310,700, with typical monthly owner costs around $1,934 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.5%, Princeton falls within the generally affordable range, though it's approaching the 30% burden threshold.

Texas has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.25% sales tax rate and 1.6% effective property tax rate, the overall tax environment helps keep costs manageable in Princeton.

Frequently Asked Questions

Common questions about living costs in Princeton

What is the cost of living in Princeton, TX?
The cost of living index in Princeton, TX is 127 (US average = 100). Median monthly rent is $2,059, median household income is $96,766/year, and the median home value is $310,700.
Is Princeton, TX affordable?
No, Princeton is more expensive than the national average with a cost index of 127. The rent-to-income ratio is 25.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Princeton, TX?
The median gross rent in Princeton, TX is $2,059 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $24,708.
What is the median household income in Princeton?
The median household income in Princeton, TX is $96,766 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Texas?
Texas has a top income tax rate of 0%, a sales tax of 6.25%, and an effective property tax rate of 1.6%. Notably, there is no state income tax.