Hoboken #1 In the Nation Again

Fishing from Pier A, Overlooking Manhattan

Erie Lackawana Terminal

Typical Hoboken Row House

For the second year in a row, the CNN Money Magazine “Best Places to Live” issue has named my hometown of Hoboken the number one town in the country for singles to live.   Once again, CNN put together a short video about Hoboken as part of this feature.  You can see the video here:  http://money.cnn.com/video/#/video/moneymag/2008/07/13/bpl.singles.08.moneymag (Sorry, it can’t be embedded into this blog).

In regards to the video itself, there are a few things of note:

First, I’m not sure about a comment made from the guy who is giving the town tour in the video.  He says that Hoboken is twenty minutes from New York City.  Hmmm, not sure about that – last time I checked, it took less than 10 minutes to get across the river on the PATH train and about 5 minutes to drive down to the Holland Tunnel (or up to the Lincoln) and across the river (line a the toll plaza aside).    I have always preferred Hoboken to any of New York’s outer boroughs, or even upper Manhattan, due to its proximity to midtown.  You can get to midtown quicker than pretty much in another location in the outer boroughs and New Jersey.

Second, the small shop which is noted to have “the best egg sandwich” in town is The Little Grocery and is around the corner from my house.  This is probably my favorite place in all of Hoboken and I am usually there at least 5 times a week…great food and the owner is an amazing guy.

Third, there is a bizarre closeup of of strange long-haired man playing air guitar.  What is that all about?

Overall, I think the video does a good job depicting the town and is a great P.R. piece.  Anything to contribute to keep my property prices high is much appreciated 😉

There are some realities that the video does not address, however, most notably, the cost associated with living here.  Although the city does have a high population of young people, it has an equal amount of established, successful older professionals who can afford to pay (a reminder that the median income in the city is about $100k).  As a result, the property values are high (the price of a 2 bedroom condo is approaching $600K) and the taxes are very high (taxes for that unit would be around $8K per year).  Therefore, the 20-somethings who move here can never afford to buy property and are stuck with very high rents (2 bedroom rental – around $2500 per month).   So while it is has a nightlife scene of its own and is close to the big isle’ of Manhattan, young folks might not be able to spend much money enjoying it!   Disposeable income can be tough to come by for single 30 somethings in Hoboken…

Finally, it is quite ironic how a city filled with so many great things can’t seem to pass a budget.  It is bizzare how a town which is so rich, can still be so poor.  Many people are asking this, including the New York Times. But that’s a completely different subject to write about…