At $1,447/mo, rent takes about 18% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,447 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
Is your rent fair?
Compare your rent to the local median.
Who lives here
Homewood, AL is majority owner-occupied, skews toward younger working-age adults, has a median income above the national average, 70.9% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Homewood, AL has changed in 5 years
Census figures show median household income at $94,485 today, compared with $89,433 five years earlier. Headcount in the area went from 26,206 to 27,829 between 2021 and 2024, a 6.2% change. About 38.3% of households rent today, against 35.4% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 67.2% to 70.9%.
Discussions about Homewood
No discussions yet. Start the conversation.
Can you afford rent in Homewood on your salary?
At $1,447/mo, how Homewood rent compares to typical pay (30% rule).
Homewood rent by bedroom count
Median rent for each apartment size in Homewood. Click any size for full breakdown.
Tips for renters in Homewood
Last updated: August 17, 2026
The median rent in Homewood is $1,447/mo as of August 2026. A studio apartment averages $1,210/mo while a 2-bedroom runs $1,530/mo. One-bedroom apartments average $1,380/mo and 3-bedroom units go for $1,910/mo.
At 18% of local median household income ($94,485/yr), Homewood ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.3% over the past year.
Frequently asked questions
Is Homewood an affordable city for renters?
How much income do you need to rent in Homewood?
Is rent going up or down in Homewood?
How does Homewood rent compare to other cities in Alabama?
Which nearby cities are cheaper to rent in than Homewood?
What percentage of Homewood residents rent vs. own?
How does Homewood rent compare to the national average?
At $1,447/mo, rent takes ~18% of Homewood's median household income ($94,485/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Estimated from ZIP-level data
Be the first to submit your rent for Homewood.
No discussions yet.
