salaryRent is higher than in 66% of U.S. cities. A typical house costs about 5.4 years of household income. Commutes are long, about 35.8 minutes each way.
How much money do I need?
To rent here comfortably, you should earn about $78,080 a year. That is $38 an hour at a full-time job.
Is rent cheaper than other Florida cities?
Yes. Rent here is cheaper than in most of Florida. It is number 233 of 479 cities from cheapest to most expensive.
How much do households earn in Homestead?
Share of households by yearly income. 18.1% of households earn $100,000 or more.
Rent by apartment size in Homestead
| Size | Homestead | U.S. average |
|---|---|---|
| Studio | $1,092 | $1,338 |
| 1 bedroom | $1,213 | $1,324 |
| 2 bedrooms | $1,609 | $1,509 |
| 3 bedrooms | $2,051 | $1,698 |
| 4 bedrooms | $2,374 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Homestead overall?
Everyday prices in Florida overall are 3% above the U.S. average (index 103.4, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Homestead, so the Florida figure is shown.
Taxes and bills in Homestead
Life in Homestead
Is it cheaper to rent or buy in Homestead?
Renting is cheaper right now: about $685 a month less.
Owning assumes a typical $380,000 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $38,000 for the down payment.
Frequently asked questions
What is the average rent in Homestead, FL?
Renting in Homestead costs a median of about $1,952 a month in 2026, including utilities. The Florida median is $1,963.
How much do I need to make to live in Homestead?
To keep rent under 30% of income, you need about $78,080 a year, or $38 an hour at a full-time job.
Is Homestead cheap or expensive?
Homestead is rated Expensive: rent takes 33.2% of the typical household income of $70,559. It ranks 233rd cheapest of 479 Florida cities we track.
How much are property taxes in Homestead?
The median homeowner in Homestead pays $3,928 a year in property taxes, about 1.03% of the median home value.
Is Homestead more expensive than the national average?
Overall prices in Florida are 3% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Homestead?
The median home value in Homestead is $380,000, about 5.4 times the typical yearly household income.
82,807 people live in Homestead. Numbers are typical (middle) values.