Is Homestead an expensive place to live?
The cost of living index is calculated based on accumulating the cost of food, transportation, health services, rent, utilities, taxes, and miscellaneous.
2,803/5,673 cities in the US
148/250 cities in Florida
Cost of Living compared to National Average
148/250 cities in Florida
Cost of Living compared to Florida
Cost of Living Comparison Calculator
Use our cost of living calculator to compare the cost of living between different locations and utilize our cost of living information to research living expenses in various areas.
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Assumptions Used to Calculate the Average Cost of Living in Homestead:
House SizeTwo Bedroom AptEdit
Ownership vs. RentRentEdit
The crime rate in Homestead is 3.28%. Crime rate is calculated by dividing the number of reported crimes by the total population.
The violent crime rate in Homestead is 0.86%. Violent crime rate is calculated by dividing the number of reported violent crimes (murder, robbery, and assault) by the total population.
The property crime rate in Homestead is 2.42%. Property crime rate is calculated by dividing the number of reported property crimes (burglary, larceny, motor vehicle theft, and arson) by the total population.
*The US National numbers are adjusted to be equivalent to Homestead's population of 70,538.
Description: Homestead is a city within Miami-Dade County in the U.S. state of Florida, between Biscayne National Park to the east and Everglades National Park to the west. Homestead is primarily a Miami suburb and a major agricultural area. It is a principal city of the Miami metropolitan area of South Florida, which was home to an estimated 6,012,331 people at the 2015 census. It is located...
How expensive is it to live in Homestead?
Based on our Homestead cost of living calculator, Homestead is 3% less expensive than the national average and 7% less expensive to live in than the average city in Florida. This assumes a $72,000 annual salary and a 2 Bedroom Apt. Food costs in Homestead are as affordable than average in the United States. Transportations costs in Homestead are more affordable than average in the United States. Housing costs in Homestead are as affordable than average in the United States. Health care costs in Homestead are as affordable than the US average.
What does it cost to move to Homestead?
The cost of moving to Homestead depends on a lot of factors. The biggest factor is the difference in cost of living between the two locations, which can be determined using
ERI's cost of living calculator. The other major factor is the distance between the two locations.
What is a cost of living index?
A cost of living index is a broad measurement of the cost of different expenses expected by the average person living in a certain location. Some of the categories tracked include health care costs, transportation, housing, groceries, and more. These numbers are tracked in specific locations to gauge how much it costs to live in a certain area over time.
Another good way to interpret this general number is to ask the question, "How many goods and/or services does a specific amount of money purchase in a given location?" An easy example would be that $100 goes further in Reno, Nevada, than it does in San Francisco, California. The goods and services tracked are need-based, meaning entertainment and other incurred expenses not required to live in a certain area are not tracked.
The main purpose of a cost of living index is to help a person quickly decide if moving from one location to another will increase or decrease quality of life.
How did we calculate our cost of living index?
Cost of living data are derived from ERI's cost of living surveys and web digitization of public domain records. Data are comprised of health care, transportation, housing, and grocery costs, which are then averaged out across the county. On the graphs above, the "0" represents the country’s average. The percentage can either be lower, expressed by a negative number, or higher than the national average, expressed by a positive number. The important part to remember is the locations are compared to an average of other locations.
What is cost of labor?
Cost of labor may sound like cost of living, but it refers to the price of labor as opposed to the cost to living in a location. Cost of labor refers to all the upfront costs that an employer must pay when hiring work from a particular area. This factors in costs such as the payroll taxes and required benefits when hiring from a particular location. This number is displayed as a percent average higher or lower than the national average. To see the cost of labor data for a particular location, please fill out this
quote form with your location of interest.