Jobst Nikolaus I became the nominal ruler of the County of Hohenzollern shortly after his birth.

Emperor Friedrich III granted Jobst Nikolaus I and his heirs in 1471 the right to operate a mine in his county, and the right to mint coins.

The financial situation was almost hopeless and there was a risk that the Swabian line of the Hohenzollerns might die out.

Friedrich XII had sold some land to improve the financial situation, however, this meant that the county became politically insignificant.

In 1448, Jobst Nikolaus married Countess Agnes of Werdenberg-Heiligenberg (1434–1467), a sister of Bishop Johann II of Augsburg.