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 114, which is 1.1x higher than the national index of 100.
Compared to Florida, Homestead has a cost of living index that's 1.1x higher than Florida's index of 104.
The standard of living in Homestead ranks as #277 most affordable out of the 462 places we measured in Florida. By definition, that implies Homestead ranks as the #185 most expensive place in the Sunshine State.
For more reading on life in Homestead, check out:
Homestead Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Homestead. Here is how it fares on each of the criteria:
The Services index in Homestead is 101.
The Groceries index in Homestead is 101.
The Health index in Homestead is 129.
The Housing index in Homestead is 107.
The Transportation index in Homestead is 112.
The Utilities index in Homestead is 107.
| Living Expense | Homestead | Florida | National Average |
|---|---|---|---|
| Overall | 114 | 104 | 100 |
| Services | 101 | 101 | 100 |
| Groceries | 101 | 105 | 100 |
| Health | 129 | 99 | 100 |
| Housing | 107 | 104 | 100 |
| Transportation | 112 | 109 | 100 |
| Utilities | 107 | 105 | 100 |
Homestead Cost Of Living Compared To Florida Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Florida, check out:
Protect your home budget Compare home warranties in Homestead Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
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 2020-2024. The key points are:
The Median Home Value in Homestead is $436,669.
The Median Rent in Homestead is $1,674.
The Median Income in Homestead is $65,423.
The Home Value To Income in Homestead is 6.7x.
The Rent To Monthly Income in Homestead is 0.31x.
Homestead, FL Costs By Category
Detailed Homestead Services costs vs. Florida
Detailed Homestead Groceries costs vs. Florida
Detailed Homestead Health costs vs. Florida
Detailed Homestead Transportation costs vs. Florida
Homestead SnackAbility
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 120, 1.1x Homestead.
Coral Gables, FL has a cost of living index of 191, 1.7x Homestead.
Cutler Bay, FL has a cost of living index of 123, 1.1x Homestead.
| City | Population | Cost Of Living | Vs. Homestead |
|---|---|---|---|
| Kendale Lakes, FL | 52,622 | 120 | 1.1x |
| Coral Gables, FL | 49,802 | 191 | 1.7x |
| Cutler Bay, FL | 45,070 | 123 | 1.1x |
| Princeton, FL | 42,625 | 120 | 1.1x |
| South Miami Heights, FL | 38,766 | 114 | 1.0x |
| Richmond West, FL | 35,593 | 133 | 1.2x |
| The Crossings, FL | 22,963 | 126 | 1.1x |
| Country Walk, FL | 19,291 | 132 | 1.2x |
| Three Lakes, FL | 16,888 | 130 | 1.1x |
| Palmetto Estates, FL | 16,129 | 114 | 1.0x |
