What is the median rent in Pennington Borough, NJ?

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

The median gross rent in Pennington Borough, NJ is $1,886 (±$186) a month, according to the US Census Bureau’s 2020–2024 American Community Survey.

That is across 183 rented homes; gross rent is the contract rent plus the utilities and fuels a renter pays separately.

In Pennington Borough, the median gross rent went from $1,539 in 2015–2019 to $1,886 in 2020–2024 (+22.5%).

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 gross rent: $1,886 (±$186)
Rented homes: 183 (±62)
$2,000 or more: 40.4%
Since 2015–2019: +22.5%

How much rent costs in Pennington Borough

Share of rented homes in each gross-rent range, 2020–2024
Monthly gross rent	Pennington Borough	Mercer County	New Jersey	United States
Less than $500	0.0% (±21.6 points)	7.8%	6.1%	6.3%
$500 to $999	13.1% (±17.4 points)	8.8%	7.9%	20.2%
$1,000 to $1,499	4.4% (±6.8 points)	26.4%	23.5%	28.1%
$1,500 to $1,999	42.1% (±19.1 points)	28.8%	28.5%	21.1%
$2,000 to $2,499	15.3% (±10.4 points)	14.5%	17.2%	12.0%
$2,500 to $2,999	6.0% (±6.5 points)	5.9%	7.9%	5.5%
$3,000 or more	19.1% (±16.6 points)	7.9%	8.9%	6.8%

The most common range is $1,500 to $1,999, paid by 42.1% of renting households.

40.4% of rented homes in Pennington Borough cost $2,000 or more a month.

Pennington Borough against Mercer County, its state and the nation

Estimate (90% margin of error)
	Pennington Borough	Mercer County	New Jersey	United States
Median gross rent	$1,886 (±$186)	$1,623 (±$34)	$1,720 (±$7)	$1,413
Rented homes paying rent	183 (±62)	52,951 (±1,688)	1,230,839 (±7,912)	42,849,984

In Pennington Borough, median gross rent is higher than in Mercer County ($1,623).

It is not measurably different from New Jersey ($1,720).

It is higher than the national figure ($1,413).

In Mercer County, Pennington Borough ranks 6 of 12 places with a published estimate, from highest to lowest median gross rent.

Statewide, it ranks 202 of 548.

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

How rent in Pennington Borough has changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Median gross rent	$1,539 (±$170)	$1,886 (±$186)	+22.5%	No measurable change after inflation
Households that rent	26.6% (±4.4 points)	18.3% (±5.6 points)	−8.3 percentage points	Measurable decrease
Rental vacancy rate	0.0% (±12.4 points)	0.0% (±19.1 points)	0.0 percentage points	Not a measurable change

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 gross rent in places near Pennington Borough

Nearest places with a published estimate, compared with Pennington Borough
Place	Distance	Median gross rent	Compared with this place
Pennington Borough	—	$1,886 (±$186)	—
Hopewell Township (Mercer County)	2.5 mi	$2,128 (±$160)	Not measurably different
Lawrenceville	3.1 mi	$2,241 (±$275)	Higher
The College of New Jersey	3.9 mi	$1,762 (±$152)	Not measurably different
Lawrence Township (Mercer County)	4.1 mi	$2,020 (±$107)	Not measurably different
Ewing Township	4.3 mi	$1,679 (±$81)	Lower
Hopewell Borough	4.6 mi	$1,856 (±$269)	Not measurably different
West Amwell Township	6.4 mi	$2,217 (±$313)	Not measurably different
Yardley	6.4 mi	$1,404 (±$250)	Lower

Nearby places with a measurably lower figure: Ewing Township, NJ ($1,679), Yardley, PA ($1,404).

Nearby places with a measurably higher figure: Lawrenceville, NJ ($2,241).

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

Median gross rent across Mercer County, place by place

Rank	Place	Median gross rent
1	Princeton	$2,636 (±$281)
2	West Windsor Township	$2,327 (±$181)
3	Hopewell Township (Mercer County)	$2,128 (±$160)
4	Robbinsville Township	$2,076 (±$176)
5	Lawrence Township (Mercer County)	$2,020 (±$107)
6	Pennington Borough	$1,886 (±$186)
7	Hopewell Borough	$1,856 (±$269)
8	Ewing Township	$1,679 (±$81)
9	Hamilton Township (Mercer County)	$1,634 (±$59)
10	East Windsor Township	$1,626 (±$68)
11	Hightstown Borough	$1,606 (±$158)
12	Trenton	$1,294 (±$52)

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 rent in Pennington Borough, NJ?

The Census Bureau publishes the median rather than the average: the median gross rent in Pennington Borough is $1,886 (±$186) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.

How much has rent gone up in Pennington Borough?

In Pennington Borough, the median gross rent went from $1,539 in 2015–2019 to $1,886 in 2020–2024 (+22.5%).

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

How many rentals in Pennington Borough cost more than $2,000 a month?

40.4% of rented homes in Pennington Borough have a gross rent of $2,000 or more a month, and 0.0% cost less than $500.

Is rent in Pennington Borough higher than in Mercer County?

In Pennington Borough, median gross rent is higher than in Mercer County ($1,623).

It is not measurably different from New Jersey ($1,720).

It is higher than the national figure ($1,413).

Is this the rent for an apartment listed today?

No: these are rents households reported paying across 2020–2024, not asking rents for vacant homes, which usually run higher.

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 B25064_001E, B25064_001M, DP04_0047PE, DP04_0047PM, DP04_0005E, DP04_0005M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0134E, DP04_0134M, DP04_0126E, DP04_0126M, DP04_0127PE, DP04_0127PM, DP04_0128PE, DP04_0128PM, DP04_0129PE, DP04_0129PM, DP04_0130PE, DP04_0130PM, DP04_0131PE, DP04_0131PM, DP04_0132PE, DP04_0132PM, DP04_0133PE, DP04_0133PM

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.