Griggs Farm

Griggs Farm exists in a unique position in the Princeton market: it's the most affordable way to access Princeton Public Schools. Originally purchased in 1985 and completed in 1989 as a Federal Housing Tax Credit development, the community comprises roughly 280 units: 140 market-rate townhomes, 70 deed-restricted affordable units, and 70 rentals. The market-rate inventory is townhomes (no market-rate condos); these trade around $567K median, typically from the high $400Ks up to the low $700Ks depending on size and condition. The much lower 1-bedroom prints that occasionally show up in MLS data (around $177K) come from the affordable side and are not available to standard market-rate buyers.

The community is located near Route 206 and Cherry Valley Road. Amenities include a clubhouse, tennis courts, and a playground. HOA fees average around $265 per month, covering exterior maintenance and common areas. The housing stock is well-established and generally well-maintained, though individual unit condition varies.

For investors, Griggs Farm is one of the more liquid segments of the Princeton market. The combination of Princeton schools and a sub-$600K price point creates steady rental and resale demand. Turnover is higher here than in Princeton's single-family neighborhoods, which means more frequent buying opportunities.

The trade-off is straightforward: you get Princeton schools and a Princeton address, but not the large lot, detached home, or walkable-to-downtown location that defines the most expensive Princeton neighborhoods. For many buyers, that's a trade-off worth making.