Princeton, New Jersey — N.J. affordable housing lottery opens for 6 Princeton condos

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For anyone who has dreamed of living in Princeton but assumed the price tag was out of reach, this week’s affordable housing lottery is a rare, tangible opportunity. Six condominiums—ranging from studios to two-bedroom units—are hitting the market with starting prices as low as $63,000, a figure that stands in stark contrast to the town’s typical six-figure median home values. Applications are open through August 5 via Affordable Homes New Jersey, and the eligibility requirements are worth a close read. For potential newcomers, this isn’t just a housing lottery; it’s a test of whether Princeton can remain accessible to a broader demographic.

Princeton’s quality of life is legendary—top-tier schools, walkable downtown, and cultural institutions that rival small cities. Yet that lifestyle has increasingly felt exclusive. The cost of living here, driven by high property taxes and limited inventory, often forces residents to choose between community and affordability. These six condos may not solve the broader housing crisis, but for a handful of applicants, they represent a genuine entry point into a town that typically demands a steep premium. If you qualify by income and household size, this could be your chance to put down roots in a community that rewards long-term investment over quick flips.

Princeton is worth watching because it is quietly proving that smart, scaled housing initiatives can coexist with legacy charm—and that even a small lottery can change a life.

Source: GNews

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Updated August 08, 2026.