Hoboken has the 547th largest population in the United States. The population grew by 7.3% from 2010 to 2015, which was faster than the national average. Hoboken is part of the New York City metro area. Unemployment in the New York City area is 4%, which is lower than the national average, and is getting better. New York City has the largest local economy in the US, and a high cost of living. The average pay for jobs in Hoboken is above average at $61,300, and the median cost of a home in Hoboken is $563,300, which is above the national average. 74% of workers in Hoboken hold a bachelors degree or higher (above average), and 93% of workers have a high school degree (above average). Taking public transit is especially common in Hoboken. 37% of Hoboken workers drive to work alone, 41% take public transit, 7% carpool, and 13% walk. People in Hoboken spend an average of 38 minutes commuting to work, which is longer than the national average of 26 minutes.