Others claim it came from the soldiers returning from the Civil War, who were Homeward Bound. Some suggest it is from the congenial greeting Hello boy that changed to Lo boy and Lo bo and finally to Ho bo. Others think it came from the word hoosier, meaning a rustic individual, a frontiersman.

The etymology of the word "hobo" remains a subject of debate among linguists, with several popular theories dating back to the late 19th century. One of the most widely accepted theories is that it originated from the term "Hoe-Boy," referring to migrant farmworkers who traveled with their own hoes to find work. Another prominent theory suggests it came from a common greeting among railroad workers: "Ho, Boy!" or a contraction of "Homeward Bound" (often abbreviated as "Ho-Bo" on the jackets of soldiers returning from the Civil War). Some historians also point to a connection with Hoboken, New Jersey, a major railroad hub where many transient workers congregated. Regardless of its exact origin, the term "hobo" became a distinct identity in the 1890s, used specifically to describe migratory workers who "wandered and worked," as opposed to "tramps" (who wandered but didn't work) or "bums" (who did neither). This subculture developed its own complex system of "hobo signs" and a strict ethical code, making it a unique and enduring part of American folk history.