Located in the state of New Jersey, Hoboken is a medium-sized city with a population of 53,136 inhabitants. In Hoboken, there are 42,502 people per square mile, which is well above the national population density average. The majority of Hoboken residents report their race to be White; this is followed by Asian and Black. If you are a young adult or student, you might be pleased to know that the average age of all Hoboken residents is 32. 77% of the people in Hoboken (over the age of 15) are married and 55% have kids under the age of eighteen. Knowing that, it’s safe to say that this area could be a great place for other families to lay down roots.
Without the right tools, relocating to any new area can be very stressful and challenging. Living in Hoboken, New Jersey could be a good experience for anyone who puts in the effort to do the research required. Finding the best places to live in Hoboken and nearby areas is a much easier task when you can rely on information and data from the livability score, which includes amenities, crime, weather, housing and other important metrics.
The livability score in Hoboken is 77 out of 100 and the city is ranked in the 87th percentile of all cities across America. This is a terrific score, as Hoboken ranks well in multiple categories! If we check out each of the categories on their own, we see that Hoboken ranks well for amenities (A+), crime (B+), employment (A+) and housing (A). There are some categories that Hoboken scores poorly for, including: cost of living (F). It might be worth taking a closer look to determine why.
Location, location, location - possibly the three most important words in your search for a new place to live. Fortunately, in Hoboken, there is no shortage of amazing local amenities and interesting things to do. Some of the interesting things to do and attractions include: Mangia Hoboken! The Hoboken Food & Culture Tour, Bliss Spa, and Hoboken Historical Museum.
For buyers, real estate will be the largest purchase they ever make and it will also be their most valuable asset. For renters, the monthly rent paid on their Hoboken apartments will most likely be their largest expense. Based on tangible metrics like home and rental affordability and appreciation rates, housing in this area has received a score that is well above the average of every other US city.
Assuming that Hoboken meets all of your requirements, the next most important item to examine is the affordability of real estate in Hoboken. Everything else becomes a lot less important if it turns out that home prices in Hoboken are simply unattainable. Median real estate prices in Hoboken come in at $621,300, which is 96.4% higher than the New Jersey average. The home price to income ratio compares the median home prices to the median household income. In Hoboken, the home price to income ratio is 5.2, which is 20.9% higher than the New Jersey average. Knowing if your home will appreciate on a long term or even a short term basis should be factored into your decision making. An increase in your home’s value can be a good way to generate tax-free equity that can create long term financial security. In the past year, appreciation rates for homes in the Hoboken area were -6.7% and 5 year appreciation rates were 8.7%.
|Average one way commute||39min||31min||26min|
|Workers who drive to work||25.4%||71.7%||76.4%|
|Workers who carpool||2.2%||8.1%||9.3%|
|Workers who take public transit||58.8%||11.2%||5.1%|
|Workers who bicycle||0.8%||0.3%||0.6%|
|Workers who walk||8.1%||3.0%||2.8%|
|Working from home||4.0%||4.1%||4.6%|