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These days, finding an affordable place to live in the Homestead area can be challenging. Home prices in Homestead are now at a median cost of $411,430, higher than the Florida average of $396,783.
The average cost of rent is $1,917/mo in Homestead, primarily driven by the current value of real estate in the Homestead area. In Homestead, 45.50% of households rent, and 32.59% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Homestead is $6,333 per month. Households that rent pay about 30.26% of their income on rent here. Homestead’s most expensive areas are in the northern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Leisure City, FL: less expensive homes
- Florida City, FL: less expensive homes
- Naranja, FL: equally priced homes
- Princeton, FL: equally priced homes
- Redland, FL: equally priced homes
- Goulds, FL: higher priced homes
- South Miami Heights, FL: equally priced homes
- Richmond West, FL: higher priced homes
- Perrine, FL: less expensive homes
- Cutler Bay, FL: higher priced homes
Cities with Similar Populations
- Bayamon, PR: less expensive homes
- Bayonne, NJ: higher priced homes
- Beaverton, OR: higher priced homes
- Alafaya, FL: less expensive homes
- Anaheim, CA: higher priced homes
- Atascocita, TX: less expensive homes
- Austin, TX: higher priced homes
- Alhambra, CA: higher priced homes
- Apple Valley, CA: equally priced homes
- Antioch, CA: higher priced homes
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