Hoboken, New Jersey Housing Market Prices
Hoboken Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 265% above the New Jersey median$1,288,134
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Median rent 70% above the New Jersey median$2,929
Housing Market Overview
| Metric | Hoboken | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,288,134 | $352,792 | $248,835 |
| Price Trend (Annual %) | 9.4% | 4.4% | 7.5% |
| Median Gross Rent | $2,929 | $1,719 | $1,407 |
| Rent Trend (Annual %) | 4.9% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hoboken is about 265% higher than in New Jersey. Rent is about 70% higher than the New Jersey average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Hoboken, up about 9.4% and 4.9% a year respectively. Home prices are changing faster.
Median rent in Hoboken rose about 52.2% between 2015 and 2024, from $1,925 to $2,929. Over the same span, rent in New Jersey rose about 44.3%.
Affordability
On average, housing unit costs 7.2 yearly household incomes in Hoboken.
Buying the median-priced home in Hoboken costs roughly 36.6 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Hoboken. The price-to-rent ratio in New Jersey is about 17.1.
| Metric | Hoboken | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,288,134 | $352,792 | $248,835 |
| Median Household Income | $178,015 | $103,817 | $80,455 |
| Price-to-Income Ratio | 7.2 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hoboken rose about 101.7%, while median household income rose about 64.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hoboken | New Jersey Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 31.3% | 59.1% | 58.5% |
| Rental Rate | 61.6% | 33.5% | 31.2% |
| Vacancy Rate | 7.2% | 7.5% | 10.2% |
| Median Tenure (years) | 9.0 | 16.0 | 15.0 |
| Median Year Moved In | 2017 | 2010 | 2011 |
Hoboken has a homeownership rate of 31.3%, lower than the New Jersey average of 59.1%. Its housing vacancy rate is 7.2%, compared with 7.5% in New Jersey.
Housing Stock
| Metric | Hoboken | New Jersey Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.01 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1975 | 1968 | 1978 |
| Median Number of Rooms | 3.5 | 5.7 | 5.5 |
The typical housing unit in Hoboken was built around 1975. On average, 2.0 people live in a home with about 3.5 rooms, staying for about 9.0 years on average.
Hoboken, NJ Housing Compared With Nearby Cities
How Hoboken, NJ compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Hoboken, NJ | 58,199 | $1,288,134 #1/3 | $2,929 #1/3 | 33.7% #1/3 |
| Union City, NJ | 66,416 | $209,974 | $1,537 | 19.1% |
| Jersey City, NJ | 293,788 | $461,532 | $2,005 | 27.9% |
Frequently Asked Questions
Common questions about the housing market in Hoboken, New Jersey.
What is the median home price in Hoboken, New Jersey?
The median home price in Hoboken, New Jersey is $1,288,134, higher than the New Jersey average of $352,792.
What is the average home price in Hoboken, New Jersey?
The typical home price in Hoboken, New Jersey, reported as the median sale price, is $1,288,134. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Hoboken, New Jersey?
The median gross rent in Hoboken, New Jersey is $2,929 per month, higher than the New Jersey average of $1,719.
What was the median gross rent in Hoboken in 2020?
In 2020, the median gross rent in Hoboken, New Jersey was $2,351 per month.
What is the price-to-rent ratio in Hoboken, New Jersey?
The price-to-rent ratio in Hoboken, New Jersey is about 36.6, meaning it would take roughly 36.6 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Hoboken.
Are home prices or rent rising faster in Hoboken, New Jersey?
Both home prices and rent are rising in Hoboken, up about 9.4% and 4.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hoboken, New Jersey?
31.3% of households in Hoboken, New Jersey own their home, lower than the New Jersey average of 59.1%.
What is the vacancy rate in Hoboken, New Jersey?
The housing vacancy rate in Hoboken, New Jersey is 7.2%, lower than the New Jersey average of 7.5%.
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