Cost of Living in Homewood, AL
Population 27,697 · Alabama · Data vintage 2023
(100 = US avg)
The Homewood cost-of-living profile is closer to the US median than most headline-grabbing metros — typical homes around $502,000, rents near $1,457 a month. The labor market has been unusually tight, with unemployment around 2.1% — below most comparable cities in the state.
Geographically, Homewood sits roughly 5 miles south of Birmingham. Median home values run roughly 262% higher than Birmingham's $139,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Homewood
The median home value in Homewood is $502,300 — 65% above the national median of $305,000. Median rent runs $1,457/month, 11% higher than the national median of $1,314/month. The median household income of $108,386/year is 45% higher than the US median of $74,580. The local unemployment rate is 2.1%, below the national average of 4.8%. Alabama's top state income tax rate is 5.0% and the combined sales tax is 9.2%. Overall, Homewood has a cost of living index of 143 versus the US average of 100, meaning it is 43% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Homewood, AL?
Homewood has a cost index of 143 (100 = national average). It is 43% above the national average.
What is average rent in Homewood, AL?
The median gross rent in Homewood is $1,457 per month based on 2023 Census data.
What is the average home price in Homewood?
The median home value in Homewood is $502,300 according to Zillow and Census data.
What is the median income in Homewood?
The median household income in Homewood is $108,386 per year (2023 ACS 5-year estimates).
What is the sales tax in Homewood, AL?
The combined state and local sales tax rate in Homewood is 9.2%. The Alabama state income tax top rate is 5.0%.
Is Homewood, AL affordable?
Homewood is above average in cost of living, with an index of 143 — about 43% higher than the national average.
Homewood at a Glance
- Population
- 27,697
- Median Income
- $108,386
- Home Value
- $502,300
- Median Rent
- $1,457/mo
- Unemployment
- 2.1%
- Sales Tax
- 9.2%
Nearby Cities
Explore county-level cost of living data
Alabama Rankings
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