Cost of Living in Homestead, FL
Population 80,725 · Florida · Data vintage 2023
(100 = US avg)
One of the defining characteristics of Homestead is a long average commute — 40 minutes one way, compared to a national median of 27. The city's housing pricing is difficult to evaluate without factoring in that daily time cost.
Homestead is about 25 miles southwest of Miami, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 27% lower than Miami's $475,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Homestead
The median home value in Homestead is $346,500 — 14% above the national median of $305,000. Median rent runs $1,619/month, 23% higher than the national median of $1,314/month. The median household income of $61,975/year is 17% lower than the US median of $74,580. The local unemployment rate is 3.8%, below the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. Overall, Homestead has a cost of living index of 117 versus the US average of 100, meaning it is 17% 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 Homestead, FL?
Homestead has a cost index of 117 (100 = national average). It is 17% above the national average.
What is average rent in Homestead, FL?
The median gross rent in Homestead is $1,619 per month based on 2023 Census data.
What is the average home price in Homestead?
The median home value in Homestead is $346,500 according to Zillow and Census data.
What is the median income in Homestead?
The median household income in Homestead is $61,975 per year (2023 ACS 5-year estimates).
What is the sales tax in Homestead, FL?
The combined state and local sales tax rate in Homestead is 7.0%. Florida has no state income tax.
Is Homestead, FL affordable?
Homestead is above average in cost of living, with an index of 117 — about 17% higher than the national average.
Homestead at a Glance
- Population
- 80,725
- Median Income
- $61,975
- Home Value
- $346,500
- Median Rent
- $1,619/mo
- Unemployment
- 3.8%
- Sales Tax
- 7.0%
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Florida Rankings
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