Cost of Living in Homewood, AL
Population: 27,697 • 2026 Data
$108,386
Median Household Income
+40% vs national
$1,457
Median Monthly Rent
+8% vs national
$502,300
Median Home Value
+48% vs national
2.1%
Unemployment Rate
Housing in Homewood
The median home value in Homewood, AL is $502,300. Monthly rent for a typical unit averages $1,457, while total monthly housing costs (including utilities and insurance) average $1,635.
Rent-to-income ratio: 16.1%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Homewood, AL is $108,386. The unemployment rate stands at 2.1%, with a labor force of 14,429 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.