Living in Homewood, Illinois
Cost of living, income, home prices, rent and demographics of Homewood · Census data 2020–2024
Homewood has 19,294 residents with a median age of 40.2. The median household income is $100,139 (20% higher than the Illinois median), the median home value is $221,100, the median rent is $1,333/month.
Homewood at a glance
- Population
- 19,294
- Median age
- 40.2State: 39
- Median household income
- $100,139State: $83,390
- Median home value
- $221,100State: $263,300
- Median rent
- $1,333/moState: $1,274
- Homeowners
- 81.7%
- Bachelor's degree or higher
- 47.4%
- Average commute
- 33 min
Is Homewood a good place to live?
Pros: Median household income 20% higher than the Illinois median; home values 16% lower than the state median; a poverty rate of 9.4%.
Cons: An average commute of 33 minutes; unemployment of 8.1%.
The weather is best in June to September.
Cost of living in Homewood
Housing is the biggest part of the cost of living. In Homewood the median home value is $221,100, 34% lower than the U.S. median. Renters pay a median of $1,333 per month, which is 32.7% of household income. Homeowners with a mortgage pay $1,819 a month in housing costs.
Homewood median household income
The median household income in Homewood is $100,139 and the income per person is $40,339. 9.4% of residents live below the poverty line (Illinois: 11.8%).
Housing in Homewood: homes for sale and rent
- Housing units
- 7,468
- Owner-occupied
- 81.7%
- Renter-occupied
- 18.3%
- Vacant
- 5.2%Includes seasonal homes
- Median year built
- 1961
- Average household size
- 2.68
Homewood demographics
- Population
- 19,294
- Median age
- 40.2
- Under 18
- 27%
- 65 and older
- 18.6%
- Households
- 7,082
- Foreign-born
- 6.1%
- Veterans
- 6%Adults 18+
Hispanic or Latino can be of any race. Population history of Homewood ›
Education in Homewood
47.4% of adults 25 and older in Homewood have a bachelor's degree or higher (Illinois: 37.8%), and 21.4% have a graduate or professional degree.
Jobs and commute in Homewood
- Unemployment rate
- 8.1%State: 5.8%
- Average commute
- 33 minState: 28 min
- Work from home
- 16.6%
- Drive alone
- 61.9%
- Public transit
- 11.1%
- Walk to work
- 0.5%
- Homes with broadband
- 95%
Homewood vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Homewood | 19,294 | $100,139 | $221,100 | $1,333 |
| East Hazel Crest | 1,068 | $54,950 | $158,300 | $1,504 |
| Hazel Crest | 13,792 | $68,393 | $185,300 | $1,320 |
| Flossmoor | 9,391 | $133,663 | $344,800 | $2,164 |
| Thornton | 1,940 | $59,647 | $155,100 | $1,107 |
| Glenwood | 8,603 | $77,391 | $198,100 | $1,493 |
| Olympia Fields | 4,734 | $123,875 | $329,000 | $3,501 |
| Markham | 11,355 | $57,302 | $135,300 | $1,621 |
| Country Club Hills | 16,324 | $75,197 | $192,000 | $1,709 |
More for people moving to Homewood
Homewood ZIP code ›Weather and climate ›Living in Homewood: FAQ
What is the median household income in Homewood, IL?
The median household income in Homewood is $100,139, 20% higher than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Homewood?
The median home value in Homewood is $221,100, compared with $263,300 in Illinois.
How much is rent in Homewood?
The median gross rent in Homewood is $1,333 per month, about 32.7% of household income.
Is Homewood, IL a good place to live?
Pluses: median household income 20% higher than the Illinois median; home values 16% lower than the state median; a poverty rate of 9.4%. Minuses: an average commute of 33 minutes; unemployment of 8.1%.
What is the median age in Homewood?
The median age in Homewood is 40.2 years (Illinois: 39).
How long is the commute in Homewood?
The average commute to work in Homewood is 33 minutes; 16.6% of workers work from home.
What is the unemployment rate in Homewood?
The unemployment rate in Homewood is 8.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Homewood?
47.4% of adults in Homewood 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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