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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 $173,900, lower than the Michigan average of $250,415.
The average cost of rent is $476/mo in Homestead, primarily driven by the current value of real estate in the Homestead area. In Homestead, 10.77% of households rent, and 53.21% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Homestead is $5,188 per month. Households that rent pay about 9.18% of their income on rent here. Homestead’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Barbeau, MI: higher priced homes
- Rosedale, MI: higher priced homes
- Gardenville, MI: higher priced homes
- Brassar, MI: equally priced homes
- Sault Ste. Marie, MI: less expensive homes
- Dafter, MI: equally priced homes
- Kincheloe, MI: less expensive homes
- Pickford, MI: equally priced homes
- Kinross, MI: less expensive homes
- Stalwart, MI: less expensive homes
Cities with Similar Populations
- Rome, AL: equally priced homes
- Montana, AR: less expensive homes
- Montpelier Station, VA: higher priced homes
- Mora, LA: less expensive homes
- Moreland, AL: less expensive homes
- Moreno, CA: higher priced homes
- Morgan, OR: higher priced homes
- Moriah, IL: less expensive homes
- Moscow, AR: less expensive homes
- Moscow, KY: less expensive homes
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