The private IP means that this IP address is being referred from the home computer only.
192.168.1.1 is a private IP address because it can only be identified inside the network it is currently working in and not outside of it.
Private IP address ranges are considered non-routable. What does that mean? that private IP addresses cannot communicate on the Internet without the use of Network Address Translation (NAT).
Unlike other public IP addresses, which are unique for the entire web, the private IP can be repeated in different networks.