Living in Homestead, Florida
Cost of living, income, home prices, rent and demographics of Homestead · Census data 2020–2024
Homestead has 82,807 residents with a median age of 32.5. The median household income is $65,423 (12% lower than the Florida median), the median home value is $380,000, the median rent is $1,674/month.
Homestead at a glance
- Population
- 82,807
- Median age
- 32.5State: 42.6
- Median household income
- $65,423State: $74,568
- Median home value
- $380,000State: $359,000
- Median rent
- $1,674/moState: $1,669
- Homeowners
- 48.3%
- Bachelor's degree or higher
- 24.9%
- Average commute
- 36 min
Is Homestead a good place to live?
Pros: Unemployment of 4%.
Cons: Median household income 12% lower than the Florida median; home values 6% higher than the state median; an average commute of 36 minutes; a poverty rate of 18.4%.
The weather is best in December to March.
Cost of living in Homestead
Housing is the biggest part of the cost of living. In Homestead the median home value is $380,000, 14% higher than the U.S. median. Renters pay a median of $1,674 per month, which is 38.4% of household income. Homeowners with a mortgage pay $2,237 a month in housing costs.
Homestead median household income
The median household income in Homestead is $65,423 and the income per person is $25,654. 18.4% of residents live below the poverty line (Florida: 12.6%).
Housing in Homestead: homes for sale and rent
- Housing units
- 27,474
- Owner-occupied
- 48.3%
- Renter-occupied
- 51.7%
- Vacant
- 6.7%Includes seasonal homes
- Median year built
- 2001
- Average household size
- 3.21
Homestead demographics
- Population
- 82,807
- Median age
- 32.5
- Under 18
- 29.5%
- 65 and older
- 8.5%
- Households
- 25,638
- Foreign-born
- 40.8%
- Veterans
- 3.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Homestead ›
Education in Homestead
24.9% of adults 25 and older in Homestead have a bachelor's degree or higher (Florida: 34.1%), and 9.3% have a graduate or professional degree.
Jobs and commute in Homestead
- Unemployment rate
- 4%State: 4.8%
- Average commute
- 36 minState: 28 min
- Work from home
- 6.8%
- Drive alone
- 74.9%
- Public transit
- 2.1%
- Walk to work
- 0.6%
- Homes with broadband
- 91.2%
Homestead vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Homestead | 82,807 | $65,423 | $380,000 | $1,674 |
| Leisure City | 27,808 | $41,977 | $375,100 | $1,723 |
| Florida City | 12,943 | $47,482 | $399,200 | $1,362 |
| Naranja | 15,796 | $53,984 | $372,100 | $1,713 |
| Homestead Base | 1,125 | $7,969 | — | — |
| Princeton | 42,625 | $83,426 | $426,900 | $1,647 |
| Goulds | 14,425 | $61,735 | $481,200 | $1,423 |
| South Miami Heights | 38,766 | $65,417 | $407,100 | $1,605 |
| Richmond West | 35,593 | $101,970 | $489,100 | $2,644 |
More for people moving to Homestead
Homestead ZIP code ›Weather and climate ›Living in Homestead: FAQ
What is the median household income in Homestead, FL?
The median household income in Homestead is $65,423, 12% lower than the Florida median of $74,568 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Homestead?
The median home value in Homestead is $380,000, compared with $359,000 in Florida.
How much is rent in Homestead?
The median gross rent in Homestead is $1,674 per month, about 38.4% of household income.
Is Homestead, FL a good place to live?
Pluses: unemployment of 4%. Minuses: median household income 12% lower than the Florida median; home values 6% higher than the state median; an average commute of 36 minutes; a poverty rate of 18.4%.
What is the median age in Homestead?
The median age in Homestead is 32.5 years (Florida: 42.6).
How long is the commute in Homestead?
The average commute to work in Homestead is 36 minutes; 6.8% of workers work from home.
What is the unemployment rate in Homestead?
The unemployment rate in Homestead is 4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Homestead?
24.9% of adults in Homestead have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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