Median Age
47 Years
Largest Age Group
50-59 Years
Approximately 14% of Residents
Under 20
24%
Over 65
24%
Avg Rent
$2,446
Population
2,762
Renter Mix
19% Rent
Pennington is a one-square-mile borough in Mercer County where the downtown has held the line against chain stores, keeping its block of indie shops and local eateries refreshingly intact. Sitting roughly halfway between Philadelphia and New York City, this small town puts both Princeton and Trenton within a 20-minute drive, making it a smart base for commuters who still want to come home to tree-lined streets and a genuine sense of place. Every May, Pennington Day fills the downtown district with neighbors, music, and local vendors — a street festival that’s become a beloved community tradition. The borough’s name itself carries history: once called Queenstown in honor of Queen Anne, it gradually evolved into Pennington by the mid-1700s.
Outdoor enthusiasts will find plenty to explore at the sprawling Rosedale Park and Mercer Meadow just outside town, where trails wind through open land ideal for hiking, biking, and horseback riding. The rental landscape here tends toward cozy townhomes and smaller apartment communities that reflect the borough’s intimate scale, with one- and two-bedroom floor plans being the most common options for renters looking to settle into this close-knit corner of central New Jersey.
Median Household Income
$145,088
Average: $165,222
Education
1,604
Residents Have a Degree
Job Market
1,431
Workers Employed
Median Age
47 Years
Largest Age Group
50-59 Years
Approximately 14% of Residents
Under 20
24%
Over 65
24%
Housing Distribution
Pennington has more homeowners than renters.
Education Distribution
Review this city's overall education levels.
As of April 2026, the average apartment rent in Pennington, NJ is $2,446 for one bedroom, and $3,031 for two bedrooms. Apartment rent in Pennington has decreased by -8.2% in the past year.
Explore how walkable, bikeable, drivable, and transit-friendly Pennington, NJ is for everyday living.
Somewhat Walkable
Walkability
Minimal Public Transit
Transit
Exceptionally Drivable
Drivability
Moderately Bikeable
Bikeability
Public
Grades PK-5
400 Students
Toll Gate/Grammar Elementary School
Public
Grades PK-5
310 Students
Public
Grades 6-8
780 Students
Mercer County Technical School Stem Academy
Public
Grades 9-12
119 Students
Public
Grades 9-12
1,079 Students
Mercer County Technical School Culinary Arts Academy
Public
Grades 9-12
109 Students
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† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.