Total monthly cost of ownership
Cost to Own a Home in Hoboken, New Jersey
A $872,000 home here costs
$6,530per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $4,483. The real number is $2,047 higher every month — 46% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Hoboken against Hudson County and New Jersey
| Measure | Hoboken | Hudson County |
|---|---|---|
| Median home value | $872,100 | $508,600 |
| Median property tax | $9,948 | $9,413 |
| Effective tax rate | 1.141% | 1.851% |
| Median gross rent | $2,819 | $1,811 |
| Population | 58,340 | 710,478 |
The weather behind that power bill
Hoboken sits in Hudson County, which averages a high of 86.9°F in its hottest month and a low of 25.5°F in its coldest, with 46.6" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,270 cooling and 4,701 heating degree days, which is what sets the $209 electricity line above.
See the full climate breakdown for Hudson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hudson County
Full Hudson County cost breakdown · Every county in New Jersey
Common questions
How much does it cost to own a home in Hoboken?
A $872,000 home in Hoboken, New Jersey costs approximately $6,530 per month with 20% down at 6.66%. That is $4,483 principal and interest, $829 property tax, $214 homeowners insurance, $277 utilities and $727 set aside for maintenance.
What is the property tax rate in Hoboken?
Hoboken has an effective property tax rate of 1.141%, based on a median home value of $872,100 and median real estate taxes of $9,948. That is lower than the Hudson County average of 1.851%.
What is the average home price in Hoboken?
The median owner-occupied home value in Hoboken, New Jersey is $872,100, against $508,600 across Hudson County.
Is it cheaper to rent or buy in Hoboken?
Median gross rent in Hoboken is $2,819 a month, against $6,530 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hoboken — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for New Jersey.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.