Rents are 13% below what Homestead's 10-year trend predicts — a better deal than its own history suggests.
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 $2,447 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: October 17, 2026
What the numbers show
February. Asking rents in Homestead usually run 0.7% below trend in February and 0.7% above it in August, about $34 a month apart at today's median. Based on 11 years of data.
Rent in Homestead is 2% below its high of $2,497 in November 2024, at $2,447 as of September 2026.
Rent in Homestead changed +0.8% over the year to September 2026. Across the 270 Florida cities Zillow tracks, the typical change was +1.8%.
From 2019 to 2024, rent in Homestead rose 62% while median household income rose 37.7% ($47,508 to $65,423). Rent outpaced income.
Rent in Homestead is 57.9% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 5 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($65,423) is $1,636 a month. That covers HUD's Fair Market Rent for up to a studio ($1,625); a 1-bedroom is $1,810.
The priciest of 4 ZIP codes in Homestead, 33033 ($2,595/mo), costs 16% more than the cheapest, 33035 ($2,239/mo).
From Zillow's monthly rent index (ZORI) for Homestead. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Homestead, FL is roughly split between renters and owners, has a large share of families with children, has a median income below the national average, 24.9% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Homestead, FL has changed in 5 years
Since 2021, the typical rent in Homestead, FL has increased from $1,682 to $2,447, a 45.5% change over five years. Median household income rose from $52,334 to $65,423 between 2021 and 2024, a 25.0% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 5.0% since 2021, moving from about 78,885 residents to roughly 82,807. Renters now make up 51.7% of households, compared with 55.8% five years ago. Taken together, the five-year picture in Homestead, FL reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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At $2,447/mo, how Homestead rent compares to typical pay (30% rule).
Homestead rent by bedroom count
Median rent for each apartment size in Homestead. Click any size for full breakdown.
Tips for renters in Homestead
Last updated: October 17, 2026
The median rent in Homestead is $2,447/mo as of October 2026. A studio apartment averages $1,625/mo while a 2-bedroom runs $2,228/mo. One-bedroom apartments average $1,810/mo and 3-bedroom units go for $2,888/mo.
At 45% of local median household income ($65,423/yr), Homestead ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.8% over the past year.
Frequently asked questions
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How does Homestead rent compare to other cities in Florida?
At $2,447/mo, rent takes ~45% of Homestead's median household income ($65,423/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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