 About 6.5% of families and 6.5% of the population were below the poverty line, including 9.2% of those under age 18 and none of those age 65 or over.Amboy was named by Amos M. Ball, who settled in the area in 1879 and whose family operated the Post Office after it was established in 1880.According to some sources, there were several settlers in the area, including Ball, with the initials A.M.B., who referred to themselves as the A.M.