Homestead, FL
Population 80,725 · Florida
About Homestead, FL
Homestead is a mid-sized city located in Florida with a population of 80,725 residents according to the latest US Census Bureau American Community Survey data. The median household income is $61,975 per year, which is 18% below the national median of $75,149. The median age of 32.3 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Homestead features a median home value of $346,500, which is 41% above the national median of $244,900. This positions Homestead in a moderately priced market relative to the rest of the country. Median monthly rent is $1,619, 39% above the national average of $1,163/month. Of the 26,741 total housing units, 45% are owner-occupied (11,447 units) and 55% are renter-occupied (13,980 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Homestead shows an unemployment rate of 3.8%, which is near the national rate of 3.7%. The poverty rate stands at 18.5%, above the national average of 12.4%. Workers in Homestead have an average one-way commute time of 37.2 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
24.3% of Homestead residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 9.3% White, 2.1% Hispanic or Latino, 6.8% Black or African American, and 30.1% Asian residents, with 40.0% of the population being foreign-born.
How Homestead Ranks in Florida
Cost of Living in Homestead, FL
Compared to national averages, Homestead has a median household income of $61,975 (18% below the national median of $75,149). Home values average $346,500, which is 41% above the national median. Monthly rent at $1,619 is 39% above the US average of $1,163. Within Florida, Homestead's income is 18% below the state average of $75,893, and home values are 2% below the state median of $353,675.
Why Live in Homestead, FL?
Potential considerations include median household income ($61,975) that falls below the national average. However, as a mid-sized city, Homestead provides access to a wide range of amenities and services.
Homestead has a population of 80,725 with a median age of 32.3 years. Compare Homestead with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Homestead
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Boynton Beach | 80,601 | $71,378 | $312,700 | Compare |
| North Port | 80,512 | $81,940 | $328,700 | Compare |
| Miami Beach | 81,319 | $67,014 | $542,000 | Compare |
| Kissimmee | 79,504 | $51,277 | $273,900 | Compare |
| The Villages | 82,108 | $76,523 | $375,100 | Compare |
| Pine Hills | 82,264 | $55,692 | $233,700 | Compare |
| Largo | 82,506 | $60,465 | $208,500 | Compare |
| Kendall | 78,527 | $83,664 | $516,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Homestead With Other Cities
Frequently Asked Questions about Homestead
What is the population of Homestead, FL?
The population of Homestead, FL is 80,725 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Florida.
What is the median household income in Homestead?
The median household income in Homestead, FL is $61,975 per year, which is 18% below the national median of $75,149.
What is the median home value in Homestead?
The median home value in Homestead, FL is $346,500, which is 41% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Homestead?
The median monthly rent in Homestead, FL is $1,619, which is 39% above the national average of $1,163/month.
What is the unemployment rate in Homestead?
The unemployment rate in Homestead, FL is 3.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Homestead, FL a good place to live?
Homestead offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 80,725 and a median age of 32.3, the city appeals to young professionals and families.
How educated is Homestead, FL?
24.3% of residents in Homestead aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Homestead?
Key cost-of-living indicators for Homestead, FL: median home value is $346,500 (41% above national), median rent is $1,619/month, and median household income is $61,975. The home-value-to-income ratio is 5.6x, a moderate figure by national standards.
What is the poverty rate in Homestead?
The poverty rate in Homestead, FL is 18.5%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Homestead, FL?
Homestead's population is 9.3% White, 2.1% Hispanic or Latino, 6.8% Black or African American, 30.1% Asian, and 19.2% two or more races. 40.0% of residents are foreign-born.