What is the median home value in Pennington Borough, NJ?

Name: Home values in Pennington Borough, NJ, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

The median value of owner-occupied homes in Pennington Borough, NJ is $672,900 (±$78,836), as owners estimated it in the Census Bureau’s 2020–2024 American Community Survey.

In Pennington Borough, the median home value went from $564,000 in 2015–2019 to $672,900 in 2020–2024 (+19.3%).

Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.

Figures last updated on November 12, 2026.

Median home value: $672,900 (±$78,836)
Owner-occupied homes: 941 (±75)
Most common range: $500,000 to $999,999

Home values in Pennington Borough

Owner-occupied homes by value, 2020–2024
Value	Pennington Borough	Mercer County	New Jersey	United States
Less than $50,000	0.0% (±4.7 points)	2.2%	2.5%	5.3%
$50,000 to $99,999	1.0% (±1.1 points)	4.4%	1.8%	6.1%
$100,000 to $149,999	1.1% (±1.5 points)	3.9%	2.2%	6.8%
$150,000 to $199,999	0.3% (±0.6 points)	7.2%	4.3%	9.0%
$200,000 to $299,999	7.3% (±3.8 points)	18.2%	12.9%	17.8%
$300,000 to $499,999	24.2% (±6.5 points)	32.1%	34.2%	26.9%
$500,000 to $999,999	59.7% (±6.9 points)	24.9%	34.5%	20.9%
$1,000,000 or more	6.4% (±3.5 points)	7.1%	7.6%	7.1%

The most common range is $500,000 to $999,999, 59.7% of owned homes.

Value is the owner’s own estimate of what the home and lot would sell for, not a sale price or an assessment.

Pennington Borough against Mercer County, its state and the nation

Estimate (90% margin of error)
	Pennington Borough	Mercer County	New Jersey	United States
Median home value	$672,900 (±$78,836)	$377,700 (±$6,110)	$454,400 (±$1,150)	$332,700
Owner-occupied homes	941 (±75)	89,569 (±1,662)	2,239,128 (±10,678)	84,210,142

In Pennington Borough, the median home value is higher than in Mercer County ($377,700).

It is also higher than in New Jersey ($454,400).

It is higher than the national figure ($332,700).

In Mercer County, Pennington Borough ranks 3 of 12 places with a published estimate, from highest to lowest median home value.

Statewide, it ranks 124 of 561.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How home values in Pennington Borough have changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Median home value	$564,000 (±$29,978)	$672,900 (±$78,836)	+19.3%	No measurable change after inflation
Median owner cost with a mortgage	$3,288 (±$255)	$3,463 (±$283)	+5.3%	Down after inflation

The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.

Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.

The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.

Median home value in places near Pennington Borough

Nearest places with a published estimate, compared with Pennington Borough
Place	Distance	Median home value	Compared with this place
Pennington Borough	—	$672,900 (±$78,836)	—
Hopewell Township (Mercer County)	2.5 mi	$561,900 (±$32,712)	Lower
Lawrenceville	3.1 mi	$411,900 (±$70,826)	Lower
Lawrence Township (Mercer County)	4.1 mi	$439,700 (±$19,565)	Lower
Ewing Township	4.3 mi	$294,400 (±$16,286)	Lower
Hopewell Borough	4.6 mi	$586,600 (±$30,773)	Lower
West Amwell Township	6.4 mi	$596,900 (±$56,402)	Not measurably different
Yardley	6.4 mi	$480,300 (±$28,964)	Lower
Princeton	6.8 mi	$1,050,600 (±$46,184)	Higher

Nearby places with a measurably lower figure: Hopewell Township (Mercer County), NJ ($561,900), Lawrenceville, NJ ($411,900), Lawrence Township (Mercer County), NJ ($439,700).

Nearby places with a measurably higher figure: Princeton, NJ ($1,050,600).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median home value across Mercer County, place by place

Rank	Place	Median home value
1	Princeton	$1,050,600 (±$46,184)
2	West Windsor Township	$776,400 (±$19,434)
3	Pennington Borough	$672,900 (±$78,836)
4	Hopewell Borough	$586,600 (±$30,773)
5	Robbinsville Township	$568,300 (±$41,176)
6	Hopewell Township (Mercer County)	$561,900 (±$32,712)
7	Lawrence Township (Mercer County)	$439,700 (±$19,565)
8	East Windsor Township	$397,400 (±$23,767)
9	Hightstown Borough	$342,600 (±$31,312)

Showing 9 of 12 places in Mercer County, ranked from highest to lowest.

Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.

Margins of error are at the 90% confidence level.

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Questions about Pennington Borough

What is the average home value in Pennington Borough, NJ?

The Census Bureau publishes the median: $672,900 (±$78,836) for owner-occupied homes in Pennington Borough (2020–2024 American Community Survey).

Have home values in Pennington Borough gone up?

In Pennington Borough, the median home value went from $564,000 in 2015–2019 to $672,900 in 2020–2024 (+19.3%).

Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.

Is this what homes in Pennington Borough sell for?

No: it is the value owners reported, which tends to lag the market; recent sale prices and an appraisal answer that question.

Sources

To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Pennington borough, Mercer County, New Jersey (county subdivision:57600, in state:34 county:021).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are B25077_001E, B25077_001M, B25088_002E, B25088_002M, B25103_001E, B25103_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0089E, DP04_0089M, DP04_0046E, DP04_0046M, DP04_0081PE, DP04_0081PM, DP04_0082PE, DP04_0082PM, DP04_0083PE, DP04_0083PM, DP04_0084PE, DP04_0084PM, DP04_0085PE, DP04_0085PM, DP04_0086PE, DP04_0086PM, DP04_0087PE, DP04_0087PM, DP04_0088PE, DP04_0088PM

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.