For my final presentation, I chose to analyze the residential real estate activity in the Borough of Princeton. For those not familiar, Princeton Borough is a relatively small municipality encompassing roughly one square mile in the northeast portion of Mercer County. The Borough is completely surrounded by Princeton Township (separate municipality), has a population of approximately 14,000 and is home of the prestigious Princeton University. The main portion of the University’s campus falls within the boundaries of the Borough.
Princeton Borough is also very well-known for its downtown shopping district. The central portion of the Borough, defined by infamous Nassau Street and Palmer Square shops. The shopping district is comprised of a mix of both major national retailers like Ralph Lauren, Banana Republic, and J. Crew as well as countless local individual retailers, many of whom have been in business for well over fifty years.
The historic village dates back to 1724 with the actual incorporation of the Borough occurring in 1813. Since then, the town has managed to maintain a historic charm, despite substantial development and redevelopment over the past few decades.
Princeton Borough Map – 1872
The population of Princeton Borough is unevenly distributed. There are obvious pockets of more densely populated areas in the central, areas as well as areas of sparse population throughout. The thematic map below provides a good overview of the population distribution throughout the Borough.
What may not be obvious is the campus of Princeton Univerisity, which obivously does not populate many residents.
The density of housing units shows the northern central, higher density neighborhoods in addition to various pockets of high density along Nassau Street. Note the absence of housing units in the relative location of the Princeton University Campus.
For more in depth analysis on the Princeton Borough real estate market click the “Residential Listings” and “Performance” Tabs at the top.
[...] Princeton Real Estate [...]