Sell Your Commercial Property In Mercer County, NJ

Who rents in Mercer County

Renter households make up 37.8% of Mercer County's occupied homes, with 54,545 renter households in the 2020-2024 ACS. Trenton drives much of that demand, counting 19,900 renter households and a 62.1% renter share, the highest among Mercer County's covered cities. Princeton and Hamilton look different: Princeton's renter share is 44.6% with 4,151 renter households, and Hamilton's is 28.4% with 10,442 renter households, both more owner-oriented than Trenton.

Mercer County's housing stock reflects that split. Some 34,999 units, 23.2% of the county's 151,138 total, sit in buildings of five or more units. Trenton holds the largest share at 25.5%, Princeton follows at 22.8%, and Hamilton trails at 17.4%. That pattern puts most of Mercer County's apartment supply inside Trenton and Princeton rather than Hamilton's more suburban housing mix.

Rents, growth and affordability

Median gross rent in Mercer County rose 28.2%, from $1,266 to $1,623, between the 2015-2019 and 2020-2024 American Community Survey periods. Renter households grew 13.6% over the same span, adding 6,534 households, while Mercer County's population rose a slower 4.9%, to 385,864 residents. Units in 5+ unit buildings expanded 14.7%, an increase of 4,482 units, keeping some pace with renter growth.

Affordability is strained. In the 2020-2024 ACS, 50.1% of Mercer County renters paid 30% or more of income on gross rent. HUD's FY2027 two-bedroom Fair Market Rent for the Trenton-Princeton, NJ metro area is $2,242, effective October 1, 2026, running $619 above Mercer County's median gross rent. Rental vacancy in Mercer County sits at 2.9%, a tight market that favors sellers with stabilized rent rolls.

City-by-city comparison

Rent and renter mix vary sharply across Mercer County's three covered cities. Princeton's $2,636 median gross rent is more than double Trenton's $1,294, while Trenton's 62.1% renter share dwarfs Hamilton's 28.4%. Princeton's rental vacancy of 1.1% is the tightest in the table, reflecting its small renter pool of 4,151 households near Princeton University.

Trenton pairs its high renter share with the lowest rent of the three Mercer County cities in this table. Hamilton's $1,634 rent sits close to the countywide $1,623 figure, consistent with its position as Mercer County's largest township by housing units. Princeton's 22.8% share of units in 5+ buildings resembles Trenton's 25.5%, though at far higher price points.

Property taxes and assessment in Mercer County

New Jersey assesses property as of October 1 of the pretax year, with taxable value set at market value multiplied by each municipality's average assessment ratio, per the state's property tax work calendar. Mercer County apartment buildings are assessed by local municipal assessors in Trenton, Princeton, Hamilton and the county's other towns, not at a single countywide rate.

Owners who disagree with an assessment can appeal to the Mercer County Board of Taxation by April 1, or 45 days after a bulk mailing of notices if later, under New Jersey's standard appeal calendar. Assessments above $1,000,000 can go directly to the state Tax Court. Sellers should confirm the current assessment and ratio for the specific Mercer County municipality before setting an asking price, since a Trenton multifamily parcel and a Princeton parcel can carry very different ratios.

What this means if you sell in Mercer County

When you sell commercial property in Mercer County, NJ, buyers price a market with real renter depth but tight supply. Renter households hold 37.8% of Mercer County's occupied homes, and rental vacancy runs just 2.9%, so buyers will test your rent roll against very little slack in the local market. A Trenton building with a 62.1% renter share draws a different buyer profile than a Princeton property priced off $2,636 rents.

Taxes and lease terms come next. New Jersey's realty transfer fee is paid by the seller on a graduated, cumulative schedule, and security deposits, capped at 1.5x monthly rent under N.J.S.A. 46:8-19 to 26, must be turned over to the buyer at closing with proper notice to tenants. As a multifamily buyer in Mercer County, NJ, we review 5+ unit buildings across Trenton, Princeton and Hamilton as they stand today -- send a current rent roll and T-12, and we will price the building on those numbers.