Hoboken, New Jersey Income Statistics
Hoboken Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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A+
Hoboken Top grade
Source: Map AI Methodology
Income Statistics Overview
| Metric | Hoboken | New Jersey Avg | US Average |
|---|---|---|---|
| Median Household Income | $178,015 | $103,817 | $80,455 |
| Median Personal Income | $120,168 | $76,200 | $60,758 |
| Average Yearly Income Growth | 5.2% | 4.4% | 4.8% |
| Six-Figure Earners | 45.7% | 19.9% | 13.9% |
| $200k+ Households | 44.2% | 21.6% | 13.2% |
The median household income in Hoboken is about 71% higher than in New Jersey. Income has been growing faster in Hoboken (5.2%/yr) than in New Jersey (4.4%/yr).
About 46% of adults in Hoboken earn six figures ($100,000 or more) a year, higher than the New Jersey average of 20%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Hoboken, New Jersey grew by 67.2% from 2009 to 2024, reaching $178,015 in 2024. That's an average of about 5.2% per year.
Income Inequality and the Gender Pay Gap in Hoboken
| Metric | Hoboken | New Jersey Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.426 | 0.544 | 0.552 |
| Male Median Income | $128,411 | $87,197 | $69,667 |
| Female Median Income | $114,818 | $70,502 | $56,850 |
| Gender Pay Gap | 10.6% | 19.1% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Hoboken, it is 0.426, lower than New Jersey's 0.544, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 12% more than women's income in Hoboken, New Jersey. Over a 35-year career, a 12% wage gap accumulates to roughly $475,755 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hoboken, New Jersey has narrowed from about 26% to 11% in 2024. Over that period the gap was widest at 28% in 2010, and was narrowest at 9% in 2023. In dollar terms, the gap has narrowed by $10,049 since 2009.
Employment
| Metric | Hoboken | New Jersey Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 6.3% | 5.2% |
| Working from Home | 36.7% | 16.8% | 15.0% |
| Commute time (minutes) | 40 | 26 | 22 |
Approximately 1,540 people are unemployed in Hoboken, New Jersey.
The average commute time in Hoboken is 40 minutes, longer than the 26 minutes in New Jersey.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hoboken, New Jersey has fallen from 4.3% to 3.8% in 2024. Over that period the rate peaked at 4.6% in 2012 and fell as low as 3.0% in 2019.
Hoboken, NJ Wealth Compared With Nearby Cities
Hoboken, NJ is typical in size for this group, 58,199 residents against a local median of 59,076, so the measures below are close to a like for like comparison. The measure that sets Hoboken, NJ apart most is median household income: $178,015, 110% above the local median of $84,967. That is the better end of the local range on this measure.
Unemployment tells the same story from another angle: 3.8% against a local median of 7.0%, 46% below it. Every measure here with a clear better direction points the same way, so Hoboken, NJ is not trading one advantage for another, it reads stronger than its neighbours across the board. The cities themselves spread $70,798 on median household income, so Hoboken, NJ sits at one end of an already wide local range rather than apart from it. Hoboken, NJ has the highest median household income of the 5 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Hoboken, NJ | 58,199 | $178,015 #1/5 | 5.2%/yr #3/5 | 3.8% #1/5 | 0.426 #1/5 |
| Union City, NJ | 66,416 | $64,444 | 5.4%/yr | 9.4% | 0.586 |
| West New York, NJ | 51,736 | $71,883 | 4.6%/yr | 8.4% | 0.584 |
| Jersey City, NJ | 293,788 | $98,050 | 6.2%/yr | 5.5% | 0.548 |
| Secaucus, NJ | 21,687 | $135,242 | 4.6%/yr | 5.6% | 0.499 |
Conclusion
Considering all these factors, Hoboken, New Jersey has an overall wealth index grade of A+, making it far better than New Jersey, and far better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hoboken, New Jersey.
How Rich Is Hoboken, New Jersey?
Hoboken has a wealth index grade of A+. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A+ grade means it is one of the most prosperous areas in the country. The median household income is $178,015, about 71% higher than the New Jersey average of $103,817.
How has median household income changed in Hoboken, New Jersey?
Between 2009 and 2024, the median household income in Hoboken, New Jersey rose 67%, from $106,489 to $178,015. Over the same years, income here outpaced New Jersey as a whole: +67% against +50%.
What was the median household income in Hoboken in 2023?
In 2023, the median household income in Hoboken, New Jersey was $178,035, up 6% from $168,361 in 2022. The New Jersey median that year was $101,191.
What was the median household income in Hoboken in 2020?
In 2020, the median household income in Hoboken, New Jersey was $152,124. By 2024 it had risen 17% to $178,015.
How many people earn six figures in Hoboken, New Jersey?
Yes. 46% of adults in Hoboken, New Jersey earn $100,000 or more a year (about 1 in 2), against 20% (about 1 in 5) in New Jersey. 44% of households have a combined income of $200,000 or more, compared with 22% in New Jersey.
How strong is the job market in Hoboken, New Jersey?
Unemployment in Hoboken, New Jersey is only 3.8%, well below the New Jersey rate of 6.3%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Hoboken, New Jersey?
The Gini coefficient in Hoboken is 0.426. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Hoboken, New Jersey?
Since 2009, the income gap between men and women in Hoboken, New Jersey has narrowed from about 26% to 11% in 2024. Over that period the gap was widest at 28% in 2010, and was narrowest at 9% in 2023. In dollar terms, the gap has narrowed by $10,049 since 2009.
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