The Hudson County enclave of Hoboken, New Jersey, is among the top-performing multifamily nodes in the Garden State, boasting an average vacancy rate of under 3% and annual rent growth that’s still elevated compared to a 4% historical average for the area. This recent outperformance can be attributed to steady renter demand for apartments alongside a near absence of new supply.
Steady Renter Demand, Little New Supply Keeps Hoboken, New Jersey’s Multifamily Sector on an Even Keel
Hoboken Remains One of the Few Locations in the State With Lower Apartment Vacancy Following the Pandemic
By Mateusz Wnek
CoStar Analytics
November 15, 2023 | 2:42 P.M.
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