Buy a Condo in Hoboken NJ
A city known for its easy access to NYC, excellent schools, bustling shopping and dining districts, and beautiful Hudson River waterfront views, Hoboken attracts newcomers who want to live the lifestyle of a big-city metropolis without having to commute. Many buyers choose to purchase a Hoboken condo in a luxury building with top-of-the-line amenities like rooftop decks and concierge services. Other desirable features of Hoboken condos for sale include state-of-the-art kitchens, spacious rooms, and open floor plans.
Buy a Condo in Hoboken NJ has one of the highest public transportation usage rates in the nation, with locals enjoying easy travel to and from Manhattan via numerous time-saving options. The city’s local hub, the Hoboken Terminal, is serviced by several NJ Transit train lines, buses, the Hudson-Bergen Light Rail, and Port Authority Trans Hudson (PATH) subway trains. In addition to these fast and affordable modes of travel, residents can also take advantage of ZipCar carpooling, Uber, and Citi Bike.
Buying a Condo in Hoboken, NJ: What to Know
The median home price in Hoboken is $895,000. With a 20% down payment and a 30-year fixed mortgage at an interest rate of 6.35%, you can afford a monthly principal and interest payment of approximately $4,460. This does not include HOA fees, PMI, and property taxes.
The median income in Hoboken is $108,500. With a income of this amount, you can qualify for a mortgage loan with a down payment of $117,000. However, before you purchase a property, it’s important to consider closing costs, which include attorney fees, title insurance, and transfer taxes.