Hoboken cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexHobokenNew JerseyNational
Cost of living index182131100
IndexHobokenNew JerseyNational
Goods & Services index151118100
Groceries index121116100
Health care index117111100
Housing index284166100
Transportation index138118100
Utilities index133110100
The above illustration supplies generalized information for the Hoboken, NJ cost of living index. Compared to other cities in New Jersey and cities across the country, the cost of living index in Hoboken, NJ is 182, which is 39% higher than the New Jersey average and 82% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Hoboken, NJ are 28% higher than the average for New Jersey and 51% higher than the rest of the country.

Did you know?

  • The cost of living in Hoboken is 39% higher than the New Jersey average.
  • The cost of living in Hoboken is 82% higher than the national average.
  • The cost of housing in Hoboken is 184% higher than the national average.
  • New Jersey general sales tax is 37% higher than the national average.
  • New Jersey state income tax is 37% lower than the national average.

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Salary Calculator

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Use the salary calculator to compare your current income in Hoboken, NJ to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Hoboken, NJ, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Hoboken, NJ salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Hoboken, NJ, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Hoboken, NJ homeowners have a median income of $158,750. Using that number, you will come up with a maximum of $3,704 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $92,731, which means there is a maximum of $2,164 to be spent on the costs of renting a home or apartment.

New Jersey Sales Tax

StateGeneral Sales TaxWith Max Surtax
New Jersey7%7%

New Jersey Income Tax

StateIncome Tax (Low)Income Tax (High)
New Jersey1.4%8.97%
When assessing the complete cost of living in Hoboken, NJ, the New Jersey income tax and the New Jersey sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The New Jersey maximum surtax is 7%, and the New Jersey sales tax is 7%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 1.4% to 8.97% in New Jersey.

Goods & Services

ItemHobokenNational avg.Difference
Haircut $22.50$14.5954.2%
Beauty Salon $70.55$34.68103.4%
Toothpaste $4.04$2.4763.3%
Shampoo $1.14$1.0211.5%
Movie $13.83$9.8740.1%
Bowling $12.33$4.39180.8%


ItemHobokenNational avg.Difference
Ground Beef $4.46$4.480.4%
Fried Chicken $1.04$1.4629.0%
Milk $1.92$2.3618.5%
Potatoes $4.37$3.0642.7%
Pizza $11.49$9.2424.3%
Beer $13.09$8.6351.6%

Health Care

ItemHobokenNational avg.Difference
Optometrist $103.33$99.783.6%
Doctor $122.50$105.0316.6%
Dentist $117.50$88.7032.5%
Ibuprofen $10.06$9.416.9%
Lipitor $302.11$298.501.2%


ItemHobokenNational avg.Difference
Home Price $563,300.00$175,700.00220.6%
Avg. Mortgage Payment $4,902.79$1,081.03353.5%
Apartment Rent $1,829.00$920.0098.8%


ItemHobokenNational avg.Difference
Gasoline $2.64$2.0926.2%
Tire Balancing $78.00$45.2972.2%


ItemHobokenNational avg.Difference
All Electricity$259.80$170.8052.1%
Phone $30.33$28.267.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
East Orange, NJ64,53811313%
Newark, NJ278,75011414%
Roselle, NJ21,34811414%
Silver Lake, NJ3,59412323%
Paterson, NJ146,34111919%
Hoboken, NJ51,97918282%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lehi, UT51,98211010%
Oak Park, IL51,98812727%
Battle Creek, MI51,96380-20%
Lakewood, NJ51,94413737%
Watsonville, CA52,08512626%
Hoboken, NJ51,97918282%
Source: The Hoboken, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.