What is the cost of living in Homewood, AL?
According to the most recent data on the cost of living, Homewood has an overall cost of living index of 124, which is 1.2x higher than the national index of 100.
Compared to Alabama, Homewood has a cost of living index that's 1.4x higher than Alabama's index of 91.
The standard of living in Homewood ranks as #112 most affordable out of the 116 places we measured in Alabama. By definition, that implies Homewood ranks as the #4 most expensive place in the Heart of Dixie.
For more reading on life in Homewood, check out:
Homewood Cost Of Living Vs. Alabama
Six factors go into calculating the cost of living index in Homewood. Here is how it fares on each of the criteria:
The Services index in Homewood is 95.
The Groceries index in Homewood is 97.
The Health index in Homewood is 186.
The Housing index in Homewood is 96.
The Transportation index in Homewood is 96.
The Utilities index in Homewood is 94.
| Living Expense | Homewood | Alabama | National Average |
|---|---|---|---|
| Overall | 124 | 91 | 100 |
| Services | 95 | 95 | 100 |
| Groceries | 97 | 96 | 100 |
| Health | 186 | 74 | 100 |
| Housing | 96 | 96 | 100 |
| Transportation | 96 | 95 | 100 |
| Utilities | 94 | 95 | 100 |
Homewood Cost Of Living Compared To Alabama Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Alabama, check out:
Protect your home budget Compare home warranties in Homewood Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Homewood, AL Housing Cost Breakdown
Housing swings affordability the most between places in Alabama, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Homewood is $558,046.
The Median Rent in Homewood is $1,463.
The Median Income in Homewood is $94,485.
The Home Value To Income in Homewood is 5.9x.
The Rent To Monthly Income in Homewood is 0.19x.
Homewood, AL Costs By Category
Detailed Homewood Services costs vs. Alabama
Detailed Homewood Groceries costs vs. Alabama
Detailed Homewood Health costs vs. Alabama
Detailed Homewood Transportation costs vs. Alabama
Homewood SnackAbility
Cost Of Living In Cities Around Homewood
The cost of living varies in the cities and towns around Homewood. Here's a quick look at the cost of living in the most populous nearby places:
Birmingham, AL has a cost of living index of 90, 0.7x Homewood.
Hoover, AL has a cost of living index of 109, 0.9x Homewood.
Vestavia Hills, AL has a cost of living index of 125, 1.0x Homewood.
| City | Population | Cost Of Living | Vs. Homewood |
|---|---|---|---|
| Birmingham, AL | 198,173 | 90 | 0.7x |
| Hoover, AL | 92,642 | 109 | 0.9x |
| Vestavia Hills, AL | 38,616 | 125 | 1.0x |
| Trussville, AL | 26,673 | 112 | 0.9x |
| Bessemer, AL | 25,400 | 86 | 0.7x |
| Pelham, AL | 24,827 | 100 | 0.8x |
| Mountain Brook, AL | 22,029 | 162 | 1.3x |
| Hueytown, AL | 16,414 | 87 | 0.7x |
| Chelsea, AL | 16,260 | 107 | 0.9x |
| Center Point, AL | 15,914 | 88 | 0.7x |
