In New Jersey, families chasing top-rated public school districts this summer found themselves paying a significant premium—especially in communities like Princeton, Tenafly, Ridgewood, Millburn, Summit, and West Windsor–Plainsboro—all widely recognized for their academic excellence. Realtor.com data for “out-of-district home shoppers” between May and July focused on areas with at least one public school rated 8 or higher and a minimum of 100 homes for sale. These high-demand districts came with steep median listing prices, averaging around $1.21 million.
■ School quality has long been a driver of homebuying decisions.… Our data shows families are making trade-offs—sometimes paying a significant premium for top-rated districts, and other times prioritizing value in areas that still offer strong academics,” says Danielle Hale, chief economist at Realtor.com.
Spotlight: Local Districts & Market Highlights
1. Princeton Public School District (Mercer County)
* Named the #2 best school district in New Jersey by Niche’s 2025 rankings ([Niche].
* Realtor.com reports a median home listing price of about $1 million in Princeton in July 2025 ([Realtor].
* Recent sales reflect even higher prices. Redfin notes the median sale price was approximately $1.6 million in May 2025—an 18.1% year-over-year increase ([Redfin]).
* Homes near Princeton High School had a median listing price of $1,050,000 ([Realtor], and residences near Riverside Elementary School listed at $1,125,000 ([Realtor][5]).
2. Ridgewood Public School District (Bergen County)
* Ranked #4 statewide by Niche for academic excellence.
* While specific home prices weren’t detailed here, Ridgewood consistently appears among the state’s most affluent communities.
3. Tenafly Public School District (Bergen County)
* Ranked #6 in New Jersey by Niche.
* Tenafly is known for strong academics and upscale neighborhoods.
4. Millburn Township School District (Essex County)
* Earned the #3 spot on Niche’s 2025 list.
* Millburn has notably high property taxes—among the highest in Essex County, with average bills around $24,308 (2018)—a sign of elevated home values and investment in local education.
5. Summit Public School District (Union County)
* Ranked #7 by Niche.
* Summit’s residential real estate is among the most expensive in the state. In 2018, the median home price was nearly $987,600.
6. West Windsor–Plainsboro Regional School District (Mercer County)
* Holding the #5 ranking statewide.
* Known for excellent schools and family appeal, this district is a major driver of local home demand.
Key Takeaways
* Across New Jersey, top-rated school districts are driving demand—and price. Districts like Princeton, Ridgewood, Tenafly, Millburn, Summit, and West Windsor–Plainsboro consistently top academic rankings and boast real estate markets that reflect their desirability.
* Princeton, in particular, provides a clear example: median listing prices hover near $1 million, but actual sale prices often reach $1.6 million—especially in neighborhoods zoned for its best schools. Homes near Riverside Elementary, for instance, listed at around $1.125 million.
* These stories echo the broader Realtor.com finding: homes in sought-after school districts command a hefty average listing price of roughly $1.21 million.