Hoboken, NJ is a popular destination for city dwellers seeking a good quality of life. With its waterfront location on the Hudson River, thriving restaurant scene, and plethora of activities both indoors and out, Hoboken offers something for everyone. Popular companies located in Hoboken include Stevens Institute of Technology, John Wiley & Sons Publishing, and NJ Transit. The cost of living in Hoboken is slightly higher than the US average- rent for a two bedroom apartment is about $3,090 per month while the national average is $1,430; grocery costs are also higher with an index score of 111 versus 100 in the US. Despite the increased costs associated with living in Hoboken, many choose to do so due to its desirable location and vibrant atmosphere.
Hoboken has an unemployment rate of 4.2%. The US average is 6.0%.
Hoboken has seen the job market decrease by -8.3% over the last year. Future job growth over the next ten years is predicted to be 30.0%, which is lower than the US average of 33.5%.
Tax Rates for Hoboken
- The Sales Tax Rate for Hoboken is 6.6%. The US average is 7.3%.
- The Income Tax Rate for Hoboken is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hoboken
- The average income of a Hoboken resident is $97,083 a year. The US average is $37,638 a year.
- The Median household income of a Hoboken resident is $160,890 a year. The US average is $69,021 a year.