Here's what it costs to live in Homestead, Florida, based on the latest US government data. Renters pay a median of $1,619 per month, while the typical home is valued around $346,500. Households earn a median of $61,975 per year, so rent absorbs a relatively high share of local income. The figures below cover housing, local wages by occupation, demographics, and air quality, all drawn from the US Census Bureau, BEA, HUD, and EPA.
Median Household Income
$61,975
Annual · Census ACS
Median Gross Rent
$1,619
Per month · Census ACS
Median Home Value
$346,500
Census ACS
Cost of Living Index
N/A
BEA RPP · US avg = 100
1BR Fair Market Rent
N/A
HUD FMR
2BR Fair Market Rent
N/A
HUD FMR
3BR Fair Market Rent
N/A
HUD FMR
HUD Fair Market Rent = 40th percentile gross rent · FY2024
State Income Tax
None
No state income tax on wages
State Sales Tax
6.00%
Statewide base rate (local add-ons may apply)
Source: Tax Foundation (2024)
| Occupation | Median Annual Wage |
|---|---|
| 💻Software Developer | N/A |
| 🏥Registered Nurse | N/A |
| 📚Elementary Teacher | N/A |
| ⚡Electrician | N/A |
| 📊Accountant | N/A |
Source: BLS OEWS 2023 (metro-level data)
Population
80,725
Latest estimate
Median Age
32.3 yrs
Census ACS
🌬️
AQI data not available
Source: EPA AirNow
What is the cost of living index for Homestead?
The cost of living index for Homestead is not yet available in our database.
What is the median rent in Homestead?
The median gross rent in Homestead is $1,619 per month according to US Census ACS data.
What is the median household income in Homestead?
The median household income in Homestead is $61,975 per year.
What is the median home value in Homestead?
The median home value in Homestead is $346,500 based on the latest Census ACS survey.
How is the air quality in Homestead?
Air quality data for Homestead is not yet available.
What are the taxes like in Homestead?
Florida has no state income tax on wages and a statewide sales tax of 6.00% (local rates may add to this). Source: Tax Foundation, 2024.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology