GITNUX MARKETDATA REPORT 2024

Statistics About The Average Rent In Hoboken

The average rent in Hoboken is approximately $2,700 per month.

With sources from: realtor.com, trulia.com, realpage.com, census.gov and many more

Statistic 1

Hoboken rents have a vacancy rate of approximately 6%.

Statistic 2

Luxury apartments in Hoboken can cost upwards of $5,000 per month.

Statistic 3

Renter demand in Hoboken is driven largely by its proximity to New York City.

Statistic 4

The average rent for a one-bedroom apartment in Hoboken is approximately $3,500 per month.

Statistic 5

Single-family home rentals in Hoboken have an average rent of about $6,500.

Statistic 6

The average rent in Hoboken is higher than in 90% of other cities in New Jersey.

Statistic 7

Approximately 30% of Hoboken residents spend more than 50% of their income on rent.

Statistic 8

Renters occupy about 70% of the housing units in Hoboken.

Statistic 9

The average rent in Hoboken is higher than the national average by around 60%.

Statistic 10

The rent for newly listed apartments in Hoboken increased by an average of $200 per year.

Statistic 11

The average rent for a waterfront apartment in Hoboken is around $4,800.

Statistic 12

The average rent for a three-bedroom apartment in Hoboken is about $5,500.

Statistic 13

80% of apartments in Hoboken are above $2,500 in monthly rent.

Statistic 14

Hoboken's average rent increased by 5% over the past year.

Statistic 15

Average rent for a four-bedroom apartment in Hoboken could be as high as $7,000.

Statistic 16

Hoboken's rental market is highly competitive with an average property being rented out within 15 days.

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Student-friendly apartments near Stevens Institute of Technology are priced around $3,000.

Statistic 18

Hoboken has one of the highest rent prices in the tristate area.

Statistic 19

Studio apartments in Hoboken have an average rent of $2,800.

Statistic 20

The median rent for a two-bedroom apartment in Hoboken is around $4,400 per month.

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In this post, we will explore the average rent in Hoboken, a city known for its proximity to New York City and vibrant rental market. With statistics ranging from vacancy rates and luxury apartment costs to renter demographics and market trends, we will paint a comprehensive picture of the rental landscape in this bustling New Jersey city.

Statistic 1

"Hoboken rents have a vacancy rate of approximately 6%."

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Statistic 2

"Luxury apartments in Hoboken can cost upwards of $5,000 per month."

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Statistic 3

"Renter demand in Hoboken is driven largely by its proximity to New York City."

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Statistic 4

"The average rent for a one-bedroom apartment in Hoboken is approximately $3,500 per month."

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Statistic 5

"Single-family home rentals in Hoboken have an average rent of about $6,500."

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Statistic 6

"The average rent in Hoboken is higher than in 90% of other cities in New Jersey."

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Statistic 7

"Approximately 30% of Hoboken residents spend more than 50% of their income on rent."

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Statistic 8

"Renters occupy about 70% of the housing units in Hoboken."

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Statistic 9

"The average rent in Hoboken is higher than the national average by around 60%."

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Statistic 10

"The rent for newly listed apartments in Hoboken increased by an average of $200 per year."

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Statistic 11

"The average rent for a waterfront apartment in Hoboken is around $4,800."

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Statistic 12

"The average rent for a three-bedroom apartment in Hoboken is about $5,500."

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Statistic 13

"80% of apartments in Hoboken are above $2,500 in monthly rent."

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Statistic 14

"Hoboken's average rent increased by 5% over the past year."

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Statistic 15

"Average rent for a four-bedroom apartment in Hoboken could be as high as $7,000."

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Statistic 16

"Hoboken's rental market is highly competitive with an average property being rented out within 15 days."

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Statistic 17

"Student-friendly apartments near Stevens Institute of Technology are priced around $3,000."

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Statistic 18

"Hoboken has one of the highest rent prices in the tristate area."

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Statistic 19

"Studio apartments in Hoboken have an average rent of $2,800."

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Statistic 20

"The median rent for a two-bedroom apartment in Hoboken is around $4,400 per month."

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Interpretation

The statistics paint a clear picture of the Hoboken rental market, showcasing its high demand and premium prices driven by its proximity to New York City. With luxury apartments costing upwards of $5,000 per month and single-family homes averaging around $6,500, it is evident that Hoboken is one of the most expensive rental markets in New Jersey. The high average rent of $3,500 for a one-bedroom apartment, coupled with the fact that 30% of residents allocate more than half their income to rent, highlights the financial strain many face in this area. Additionally, the rapid increase in rent prices, with an average yearly hike of $200 and a 5% increase over the past year, further emphasizes the competitiveness and escalating costs within the Hoboken rental market.

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