Homestead, FL Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Homestead, FL Summary

Cost of living in Homestead research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Homestead is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Florida, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Homestead is 101, with 100 being the average.

  • The cost of living index in Homestead is 1.0x higher than the national average.

  • Homestead ranks as the #268 cheapest in Florida out of 459.

  • Homestead ranks as the #3,263 cheapest out of 6,412 in the US.

  • The median home value in Homestead is $253,200.

  • The median income in Homestead is $52,334.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
101
Homestead's Overall Cost Of Living
1.0x
Higher Than The National Average

What is the cost of living in Homestead, FL?

According to the most recent data on the cost of living, Homestead has an overall cost of living index of 101, which is 1.0x higher than the national index of 100.

Compared to Florida, Homestead has a cost of living index that's 1.0x lower than Florida's index of 101.

The standard of living in Homestead ranks as #268 most affordable out of the 459 places we measured in Florida. By definition, that implies Homestead ranks as the #191 most expensive place in the Sunshine State.

For more reading on life in Homestead, check out:

268 out of 459
In Florida
3,263 out of 6,412
In America

Homestead Cost Of Living Vs. Florida

Six factors go into calculating the cost of living index in Homestead. Here is how it fairs on each of the criteria:

  • The Services index in Homestead is 101.

  • The Groceries index in Homestead is 119.

  • The Health index in Homestead is 103.

  • The Housing index in Homestead is 86.

  • The Transportation index in Homestead is 110.

  • The Utilities index in Homestead is 98.

Living Expense Homestead Florida National Average
Overall 101 101 100
Services 101 98 100
Groceries 119 101 100
Health 103 96 100
Housing 86 108 100
Transportation 110 98 100
Utilities 98 100 100
For more reading on cost of living around Florida, check out:
Homestead Cost of Living Vs. FL

Homestead, FL Housing Cost Breakdown

Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Homestead is $253,200.

  • The Median Rent in Homestead is $1,378.

  • The Median Income in Homestead is $52,334.

  • The Home Value To Income in Homestead is 4.8x.

  • The Rent To Monthly Income in Homestead is 0.32x.

Statistic Homestead Florida United States
Median Home Value $253,200 $248,700 $244,900
Median Rent $1,378 $1,301 $1,163
Median Income $52,334 $61,777 $69,021
Home Value To Income 4.8x 4.0x 3.5x
Rent To Monthly Income 0.32x 0.25x 0.2x
Search Homes For Sale In Homestead, FL
$253,200
Median Home Value
$1,378
Median Rent
$52,334
Median Income

Homestead, FL Costs By Category

Detailed Homestead Services Costs Vs. Florida

Item Homestead Florida
Shampoo $1.11 $1.06
Movie $13.23 $10.68
Bowling $22.13 $14.67
Haircut $14.37 $18.62
Beauty Salon $70.0 $39.05

Detailed Homestead Groceries Costs Vs. Florida

Item Homestead Florida
Ground Beef $4.27 $4.22
Fried Chicken $1.73 $1.39
Milk $3.16 $2.05
Potatoes $3.86 $3.29
Pizza $9.1 $10.62
Beer $10.98 $9.38
Toothpaste $1.87 $2.34

Detailed Homestead Health Costs Vs. Florida

Item Homestead Florida
Optometrist $105.63 $108.57
Doctor $111.06 $116.17
Dentist $107.78 $99.13

Detailed Homestead Transportation Costs Vs. Florida

Item Homestead Florida
Gasoline $2.24 $2.22
Tire Balancing $60.69 $50.07

Detailed Homestead Utilities Costs Vs. Florida

Item Homestead Florida
All Electricity $162.18 $167.67
Phone $188.17 $175.64

Homestead SnackAbility

4
/10
Overall SnackAbility
Jobs
6/10
Housing
8.5
Affordability
3
Diversity
8.5
Safety
4
Amenities
9.5
Education
6
Commute
3

Cost Of Living In Cities Around Homestead

The cost of living varies in the cities and towns around Homestead. Here's a quick look at the cost of living in the most populous nearby places:

  • Kendale Lakes, FL has a cost of living index of 108, 1.1x Homestead.

  • Coral Gables, FL has a cost of living index of 164, 1.6x Homestead.

  • Cutler Bay, FL has a cost of living index of 113, 1.1x Homestead.

City Population Cost Of Living Vs. Homestead
Kendale Lakes, FL 53,392 108 1.1x
Coral Gables, FL 49,269 164 1.6x
Cutler Bay, FL 44,865 113 1.1x
Richmond West, FL 37,626 117 1.2x
Princeton, FL 36,381 106 1.0x
South Miami Heights, FL 36,239 102 1.0x
The Crossings, FL 22,382 116 1.1x
Country Walk, FL 18,627 122 1.2x
Palmetto Estates, FL 16,612 105 1.0x
Three Lakes, FL 15,367 117 1.2x

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