Cost of Living in Homewood, AL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
163.1
100 = national avg
+63.1 vs national average
Living Wage (1 Adult)
$71,769
per year
Living Wage (Family of 4)
$169,635
per year
Cost Index by Category
Housing191.6
Food132.8
Transportation165.7
Healthcare126.3
Utilities138.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,155
per month
2 Bedroom
$1,266
per month
The overall cost of living index in Homewood is 163.1, which is 63.1% above the national average. Housing costs are above the national average at an index of 191.6. A single adult needs to earn approximately $71,769 per year to cover basic expenses.