salaryRent is lower than in 71% of U.S. cities. A typical house costs about 4.8 years of household income. Commutes are short, about 12.2 minutes.
How much money do I need?
To rent here comfortably, you should earn about $50,920 a year. That is $24 an hour at a full-time job.
Is rent cheaper than other Alaska cities?
Yes. Rent here is cheaper than in most of Alaska. It is number 2 of 24 cities from cheapest to most expensive.
How much do households earn in Homer?
Share of households by yearly income. 24.8% of households earn $100,000 or more.
Rent by apartment size in Homer
| Size | Homer | U.S. average |
|---|---|---|
| Studio | $1,007 | $1,338 |
| 1 bedroom | $1,091 | $1,324 |
| 2 bedrooms | $1,381 | $1,509 |
| 3 bedrooms | $1,776 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Homer overall?
Everyday prices in Alaska overall are 2% above the U.S. average (index 102.4, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Homer, so the Alaska figure is shown.
Taxes and bills in Homer
Life in Homer
Is it cheaper to rent or buy in Homer?
Renting is cheaper right now: about $1,422 a month less.
Owning assumes a typical $388,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $38,840 for the down payment.
Frequently asked questions
What is the average rent in Homer, AK?
Renting in Homer costs a median of about $1,273 a month in 2026, including utilities. The Alaska median is $1,651.
How much do I need to make to live in Homer?
To keep rent under 30% of income, you need about $50,920 a year, or $24 an hour at a full-time job.
Is Homer cheap or expensive?
Homer is rated Cheap: rent takes 19.0% of the typical household income of $80,293. It ranks 2nd cheapest of 24 Alaska cities we track.
How much are property taxes in Homer?
The median homeowner in Homer pays $2,657 a year in property taxes, about 0.68% of the median home value.
Is Homer more expensive than the national average?
Overall prices in Alaska are 2% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Homer?
The median home value in Homer is $388,400, about 4.8 times the typical yearly household income.
5,877 people live in Homer. Numbers are typical (middle) values.