Homewood, AL

Yes — Homewood is about 21% more expensive than the national average, with an overall Cost Index of 121. Housing is the biggest factor: the typical home here is valued around $502,300, and monthly rents average roughly $1,457. Day-to-day costs like groceries and utilities tend to run closer to the national norm.

Start with housing. Typical monthly rent is $1,457, while local median household income is $108,386. That implies a rent-burden proxy of about 16% before utilities and other costs. For a specific job offer, filing status, or take-home pay scenario, use salary.city.

Alabama has a progressive state income tax with a top rate of 5%. The effective property tax rate is 0.41%. On a home worth $502,300, that translates to roughly $2,059 per year in property taxes. Sales tax (state + local) averages around 9.24% on everyday purchases.

The typical monthly rent in Homewood is around $1,457. That's close to the $1,348 national median. For comparison, the median home value here is $502,300, so buyers should also factor in mortgage payments, property taxes, and insurance.

The median home in Homewood is valued at $502,300. With 20% down and a 6.5% mortgage rate, you'd be looking at roughly $2,540/month for principal and interest alone — before property taxes and insurance. About 64% of residents here own their homes.

Grocery prices in Homewood are about average compared to the rest of the US (index: 96, where 100 is the national average). Utility bills (electricity, gas, water) are below average (index: 84). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.

Homewood is a small town with a population of about 27,697. The median age of residents is 29.4, skewing younger — often a sign of a college town or fast-growing area. The local poverty rate is 8.08%, near the national average of 12.4%.