Cost of Living in Homestead, Florida
Homestead has a population of about 82,807. The median household income is $65,423, median gross rent is $1,674/month, and the median home value is $380,000. These figures come from 2020-2024 ACS 5-Year estimates, the latest full-coverage Census baseline for U.S. cities.
How current is this? Census city data is released with a lag because it is survey-based and designed for consistent coverage across small and large places. Use it as an official affordability baseline; current apartment listings and mortgage rates may differ.
Is Homestead expensive to live in?
Compared with the national median in this dataset, rent in Homestead is about the national median and home values are about the national median. Household income here is 22% below the national median. Monthly rent represents roughly 31% of the median annual household income, a rough affordability signal for renters.
Frequently asked questions
What is the average rent in Homestead?
The median gross rent in Homestead, Florida is $1,674 per month in the 2020-2024 ACS 5-Year estimates.
What is the median home price in Homestead?
The median owner-occupied home value in Homestead is $380,000 in the 2020-2024 ACS 5-Year estimates.
How much do people earn in Homestead?
The median household income in Homestead is $65,423 per year in the 2020-2024 ACS 5-Year estimates.
Data source: U.S. Census Bureau, 2020-2024 ACS 5-Year Estimates. Local database last refreshed 2026-07-11.