Adjective. Used to describe someone who doesn't have a job but still, somehow, manages to stay sharp. This often leads to one not being able pay their rent due to all of their money being spent.
One can often identify someone who is hood rich by their quarter tank of gas in their new E-class (whilst still believing that they will ride) and their gator boots with a pimped out Gucci suit.
Typically, one who is hood rich will preach their hood richness, despite having everything in their momma's name.
Winston: "Ah, I am finally able to buy that '98 Civic that I've been saving up for after working 40 hours a week at my summer job."
Jamal: "Ha, you trippin'. I used my momma's credit card to buy myself a Mercedes. Check out them rims!"
Winston: "Wow, thats impressive. Speaking of... can you give me a ride to the dealership?"
Jamal: "Nah, dawg, sorry. I only got a quarter tank of gas in my new E-class; I can't be drivin' around all the time."
Winston: "Why don't you just fill it up? Don't you have a job?"
Jamal: "Hah, nah, man."
Winston: "How do you stay so sharp? More importantly, how do you manage to pay your rent?!"
Jamal: "I'm hood rich, son. I do what I want."