The average home price in the town, according to the study, is $687,454, which is nearly $300,000 more than the statewide average.
One of the oldest college towns in the country, Princeton was named the 15th-best place to live and work by CNNMoney in 2005.
It has not been on the list since.
The second most expensive college town was listed as Berkeley, Calif., with an average home price of $655,873.
The town is home to University of California, Berkeley, and the Graduate Theological Union.
The research was completed by LendingTree.com, which examined top college towns with at least one big college or university and a population of fewer than 500,000.
These data were then cross-referenced with data from the American Institute for Economic Research, which analyzed more than 200 metropolitan areas with a student population of at least 15,000.
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