There are two more differences that no one seems to have mentioned.

Switches are full duplex while hubs are half duplex. So acks aren't held up by the incoming data stream, as a result the variance in latency is significatnly lower.

Also, switches often allow multiple ports to work at the same time, this could be a feature of the more expensive switches only. For example, a device on port 1 can talk to port 2 at the same time as devices on ports 3 and 4 are transferring data. This is probably not that interesting in a home environment.