Metro area index
Home appreciation in the Trenton-Princeton, NJ metro area
FHFA HPI® data shows the Trenton-Princeton, NJ metro area's all-transactions index changed +5.2% over the year to Q2 2026, versus +5.5% for New Jersey and +3.0% for the U.S. That ranks 91st of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +5.2%
- 5-year change
- +64.1%
- Since Q1 1995
- +276%
- Metro rank (1 year)
- 91st
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Trenton-Princeton, NJ vs New Jersey and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Trenton-Princeton, NJ: 376.1
- New Jersey: 420.2
- United States: 391.6
Appreciation by time window
| Window | Metro | NJ | U.S. | Gap vs NJ | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +5.2% | +5.5% | +3.0% | −0.3 pts | +2.2 pts |
| 3 years | +25.0% | +24.2% | +12.9% | +0.8 pts | +12.1 pts |
| 5 years | +64.1% | +58.3% | +41.3% | +5.9 pts | +22.9 pts |
| 10 years | +99.6% | +99.2% | +93.3% | +0.4 pts | +6.3 pts |
| Since Q1 1995 | +276% | +320% | +292% | −44.1 pts | −15.4 pts |
3-digit ZIP regions in the Trenton-Princeton, NJ area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 086 · Trenton, NJ area | NJ | +4.6% | +65.2% | +271% | 94% |
| 085 · Princeton, NJ area | NJ | +4.0% | +58.3% | +304% | 36% |
Boom, bust, and recovery in Trenton-Princeton, NJ area
Trenton-Princeton, NJ area's index peaked in Q4 2006, fell 21.9% to its low in Q1 2014, and regained its peak in Q3 2021, about 14.8 years after the top. Today it sits +63.8% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q4 2006 | Q1 2014 | -21.9% | Q3 2021 (14.8 yrs) | +63.8% |
| NJ | Q1 2007 | Q2 2012 | -22.1% | Q1 2021 (14 yrs) | +67.8% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Trenton-Princeton, NJ area's index has changed +69.9% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | NJ after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | +1.3% | +1.5% | -0.8% |
| 3 years | +9.8% | +13.8% | +13.1% | +2.8% |
| 5 years | +24.0% | +32.3% | +27.6% | +13.9% |
| 10 years | +39.1% | +43.5% | +43.2% | +39.0% |
| Since Q1 1995 | +121% | +69.9% | +89.8% | +76.8% |
If you bought in the Trenton-Princeton, NJ area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +278% | $1,132,831 |
| Q2 2000 | +221% | $962,139 |
| Q2 2005 | +80.7% | $542,243 |
| Q2 2010 | +93.8% | $581,418 |
| Q2 2015 | +103% | $608,707 |
| Q2 2020 | +81.1% | $543,262 |
| Q2 2021 | +64.1% | $492,428 |
| Q2 2023 | +25.0% | $375,000 |
| Q2 2025 | +5.2% | $315,564 |
Frequently asked questions
- How much have home prices risen in the Trenton-Princeton, NJ area?
- FHFA HPI® data for the Trenton-Princeton, NJ metro area shows changes of +5.2% over one year, +64.1% over five years, and +99.6% over ten years to Q2 2026, and +276% since Q1 1995.
- Is the Trenton-Princeton, NJ area beating the national average?
- Over the past year the metro's index moved +2.2 pts versus the U.S.; over five years the gap is +22.9 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.