Hoboken, NJ Cost Of Living
Cost Of Living In Hoboken, NJ Summary
Cost of living in Hoboken research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Hoboken is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Jersey, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Hoboken is 192, with 100 being the average.
The cost of living index in Hoboken is 1.9x higher than the national average.
Hoboken ranks as the #250 cheapest in New Jersey out of 260.
Hoboken ranks as the #6,271 cheapest out of 6,489 in the US.
The median home value in Hoboken is $818,175.
The median income in Hoboken is $176,943.
Table Of Contents
Hoboken's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Hoboken, NJ?
According to the most recent data on the cost of living, Hoboken has an overall cost of living index of 192, which is 1.9x higher than the national index of 100.
Compared to New Jersey, Hoboken has a cost of living index that's 1.6x higher than New Jersey's index of 122.
The standard of living in Hoboken ranks as #250 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Hoboken ranks as the #10 most expensive place in the Garden State.
For more reading on life in Hoboken, check out:
In New Jersey
In America
Hoboken Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Hoboken. Here is how it fairs on each of the criteria:
The Services index in Hoboken is 129.
The Groceries index in Hoboken is 111.
The Health index in Hoboken is 122.
The Housing index in Hoboken is 362.
The Transportation index in Hoboken is 113.
The Utilities index in Hoboken is 101.
| Living Expense | Hoboken | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 192 | 122 | 100 | |
| Services | 129 | 108 | 100 | |
| Groceries | 111 | 104 | 100 | |
| Health | 122 | 99 | 100 | |
| Housing | 362 | 159 | 100 | |
| Transportation | 113 | 101 | 100 | |
| Utilities | 101 | 107 | 100 | |
Hoboken, NJ Housing Cost Breakdown
Housing swings affordability the most between places in New Jersey, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Hoboken is $818,175.
The Median Rent in Hoboken is $2,819.
The Median Income in Hoboken is $176,943.
The Home Value To Income in Hoboken is 4.6x.
The Rent To Monthly Income in Hoboken is 0.19x.
| Statistic | Hoboken | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $818,175 | $564,432 | $303,400 |
| Median Rent | $2,819 | $1,653 | $1,348 |
| Median Income | $176,943 | $101,050 | $78,538 |
| Home Value To Income | 4.6x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.19x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Hoboken, NJ Costs By Category
Detailed Hoboken Services Costs Vs. New Jersey
| Item | Hoboken | New Jersey |
|---|---|---|
| Shampoo | $1.69 | $1.28 |
| Movie | $13.68 | $12.13 |
| Bowling | $29.4 | $18 |
| Haircut | $34.94 | $24.26 |
| Beauty Salon | $64.07 | $45.56 |
Detailed Hoboken Groceries Costs Vs. New Jersey
| Item | Hoboken | New Jersey |
|---|---|---|
| Ground Beef | $5.87 | $5.84 |
| Fried Chicken | $1.46 | $1.57 |
| Milk | $4.97 | $4.67 |
| Potatoes | $5.21 | $4.93 |
| Pizza | $12.57 | $12.09 |
| Beer | $11.87 | $10.41 |
| Toothpaste | $3.96 | $3.7 |
Detailed Hoboken Health Costs Vs. New Jersey
| Item | Hoboken | New Jersey |
|---|---|---|
| Optometrist | $128.97 | $125.68 |
| Doctor | $162.24 | $135.78 |
| Dentist | $149.64 | $113.29 |
Detailed Hoboken Transportation Costs Vs. New Jersey
| Item | Hoboken | New Jersey |
|---|---|---|
| Gasoline | $3.55 | $3.46 |
| Tire Balancing | $86.43 | $59.92 |
Detailed Hoboken Utilities Costs Vs. New Jersey
| Item | Hoboken | New Jersey |
|---|---|---|
| All Electricity | $201.27 | $193.99 |
| Phone | $200.67 | $192.25 |
Hoboken SnackAbility
/10
Cost Of Living In Cities Around Hoboken
The cost of living varies in the cities and towns around Hoboken. Here's a quick look at the cost of living in the most populous nearby places:
West New York, NJ has a cost of living index of 136, 0.7x Hoboken.
Kearny, NJ has a cost of living index of 128, 0.7x Hoboken.
Cliffside Park, NJ has a cost of living index of 149, 0.8x Hoboken.
| City | Population | Cost Of Living | Vs. Hoboken |
|---|---|---|---|
| West New York, NJ | 51,683 | 136 | 0.7x |
| Kearny, NJ | 40,570 | 128 | 0.7x |
| Cliffside Park, NJ | 25,580 | 149 | 0.8x |
| Secaucus, NJ | 21,437 | 155 | 0.8x |
| Woodmere, NY | 18,198 | 194 | 1.0x |
| Port Washington, NY | 17,613 | 194 | 1.0x |
| Fairview, NJ | 14,920 | 156 | 0.8x |
| North New Hyde Park, NY | 14,354 | 178 | 0.9x |
| Guttenberg, NJ | 11,638 | 130 | 0.7x |
| Ridgefield, NJ | 11,439 | 153 | 0.8x |
