Hobo Alley is one of the only three of Woodland's many alleys to be officially named. It is the least known of the three, after the famous Dead Cat Alley and the slightly less famous Dog Gone Alley. It is located on the north side of Beamer Street between North Walnut Street and Freeman Street, approximately opposite Locust Street but slightly offset to the west.

Hobo Alley has a crossbar on its north end, forming a T shape. Only the vertical bar of the T shape has a street sign proclaiming it to be named Hobo Alley. The horizontal bar of the T shape, which links North Walnut Street to Freeman Street, has been informally dubbed Ragamuffin Alley on this LocalWiki for the sake of continuing the naming theme.