Hoboken: Now Seeking NYC Price Refugees

Is Hoboken becoming a real estate refuge for people seeking to escape the ever-rising price of living in Manhattan?

A recent New York Times report highlighted the brighter side of life in the “Mile Square City,” calling Hoboken a place of “expansive views and an increasing number of baby strollers” and emphasizing the city’s attractiveness to New York City residents.

“Hoboken is… increasingly drawing young families that have been priced out of Manhattan and Brooklyn,” the Times reported.

The Times isn’t the only publication to tout a possible rising exodus to Hoboken.

After naming the city the “Best Place To Live For Singles” in 2013, New Jersey Monthly wrote:

“With easy access to public transportation, in particular the ferry and PATH train to New York, Hoboken has been transformed from a blue-collar town to a bedroom community for Wall Street professionals and other white-collar types… Some 66 percent of residences are rentals: one-bedroom units start at $1,300, two-bedrooms at $2,000 and three-bedrooms at $3,500 a month.”

In 2014, after the NYC-inspired Tribeca West condos opened in Hoboken, Curbed.com wrote that within 10 months, all of the building’s units were rented. The new tenants reportedly included a couple who “rented on the Upper West Side for a couple of years with their family” before moving to Hoboken to find something in their budget.

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Pictured above: The Willow14 building in Hoboken

Send Hoboken news tips to eric.kiefer@patch.com