Affordable Housing In Hoboken
Hudson County, New Jersey

18 Low Income Apartment Communities In Hoboken

Columbian Towers

76 Bloomfield St
Hoboken, NJ
62+
Accessible
Elderly Supportive Housing
Subsidized

Northvale IV Apartments

58 11th St
Hoboken, NJ
Subsidized

Westview Associates

55 Bloomfield St
Hoboken, NJ
Subsidized

Eastview

58 Washington St
Hoboken, NJ
Subsidized

Church Square South

126 Willow Ave
Hoboken, NJ
Subsidized

Marian Towers

400 1st St
Hoboken, NJ
Subsidized

Clock Towers Apartments

300 Adams St
Hoboken, NJ
Subsidized

Elysian Estates

1300 Washington St
Hoboken, NJ
Subsidized

Columbian Arms

514 Madison St
Hoboken, NJ
62+
Accessible
Elderly Supportive Housing
Subsidized

Andrew Jackson Gardens

300 Marshall Dr
Hoboken, NJ

Housing Authorities that serve Hoboken

Housing Authority Programs
Hoboken Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing
State of New Jersey Department of Community Affairs Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Hoboken, New Jersey

There are 18 low income housing apartment communities offering 2,486 affordable apartments for rent in Hoboken, New Jersey. Hoboken features 2,283 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 203 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Hoboken.

Sourced from federal housing data and AffordableHousingOnline.com research.

Hoboken, NJ Affordable Housing Snapshot

Total Affordable Apartment Properties 18
Total Low Income Apartments 2,486
Total Housing Units with Rental Assistance 2,283
Percentage of Housing Units Occupied By Renters 68.61%
Average Renter Household Size 2.03
Average Household Size 2.08
Median Household Income $114,381 ±$5,184
Median Rent $1,931 ±$62
Percentage Of Renters Overburdened 31.27% ± 3.06pp
Total Population 52,452

Population and Household Demographics

Hoboken is a City in Hudson County, New Jersey with a population of 52,452. There are 24,579 households in the city with an average household size of 2.08 persons. 68.61% of households in Hoboken are renters.

Income and Rent Overburden in Hoboken

The median gross income for households in Hoboken is $114,381 a year, or $9,532 a month. The median rent for the city is $1,931 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hoboken, a household making less than $6,437 a month would be considered overburdened when renting an apartment at or above the median rent. 31.27% of households who rent are overburdened in Hoboken.1

Area Median Income In Hoboken

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Hoboken, the AMI is calculated from all households within Hudson County.

In Hoboken, HUD calculates the Area Median Income for a family of four as $70,600

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Hoboken

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Hoboken HUD Rental Assistance in Hoboken

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $19,250 $22,000 $24,750 $27,500 $30,170 $34,590 $39,010 $43,430
50% of Median $32,100 $36,700 $41,300 $45,850 $49,550 $53,200 $56,900 $60,550
80% of Median $51,350 $58,700 $66,050 $73,350 $79,250 $85,100 $91,000 $96,850
Low Income Housing Tax Credits in Hoboken

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 2002 to 2005, 2 low income apartment communities containing 340 rental apartments have been constructed and made affordable to low income persons in Hoboken by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Hoboken

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $32,100 $36,700 $41,300 $45,850 $49,550 $53,200 $56,900 $60,550
60% of Median $38,520 $44,040 $49,560 $55,020 $59,460 $63,840 $68,280 $72,660

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Hoboken is $49,560 a year, or $4,130 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $4,130 by 30% to get a maximum rent of $1,239 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $803 $860 $1,033 $1,193 $1,330 $1,468
60% $963 $1,032 $1,239 $1,431 $1,596 $1,762
Fair Market Rents in Hoboken

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$1,292 $1,439 $1,691 $2,107 $2,291