A hub assembly is provided for a human-powered vehicle. The hub assembly includes a hub axle, a hub body, a bearing spacer and a first hub body bearing. The hub body is rotatably mounted on the hub axle to rotate around a rotational center axis of the hub assembly. The bearing spacer has an inner peripheral end provided to the hub axle and an outer peripheral end spaced radially outward of the inner peripheral end in a radial direction with respect to the rotational center axis. The first hub body bearing is disposed at the outer peripheral end of the bearing spacer and rotatably supporting the hub body.

A hub assembly is provided for a human-powered vehicle. The hub assembly includes a hub axle, a hub body, a bearing spacer and a first hub body bearing. The hub body is rotatably mounted on the hub axle to rotate around a rotational center axis of the hub assembly. The bearing spacer has an inner peripheral end provided to the hub axle and an outer peripheral end spaced radially outward of the inner peripheral end in a radial direction with respect to the rotational center axis. The first hub body bearing is disposed at the outer peripheral end of the bearing spacer and rotatably supporting the hub body.