Salary & Cost of Living in Homestead, FL
Homestead, FL: $44,836 median salary, cost of living index 95.9, $13.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$44,836
$22/hr
Cost of Living
95.9
US avg = 100
Minimum Wage
$13.00
per hour
Unemployment
2.5%
rate
Homestead, FL Overview
Population
80,104
Median Salary
$44,836
Average Salary
$50,216
Avg Commute
20 min
Median Home Price
$394,000
Median Rent
$1,616/mo
Job Growth
+2.6%
Sales Tax
6%
Homestead is located in Florida with a population of 80,104. The median household salary is $44,836 per year ($22/hour), which is $14,548 below the national median of $59,384. The average commute time is 20 minutes, and the city has a job growth rate of +2.6%.
Homestead Salary by Experience Level (2026)
Wage distribution in Homestead, FL based on BLS percentile breakdown of the $44,836 median salary. Entry-level represents 10th–25th percentile; mid-level is the median; senior-level represents 75th–90th percentile.
| Experience Level | Annual Salary | Hourly Wage | Years Exp |
|---|---|---|---|
| Entry-Level | $27,798 | $13.37/hr | 0–2 years |
| Mid-Level (Median) | $44,836 | $21.56/hr | 3–7 years |
| Senior-Level | $63,667 | $30.62/hr | 8–15 years |
| Top 10% (90th Percentile) | $79,808 | $38.38/hr | 15+ years / leadership |
Percentile multipliers (62%, 100%, 142%, 178%) derived from 2024 BLS Occupational Employment and Wage Statistics distribution across all occupations in metro areas. Specific roles vary; see jobs by city for role-specific data.
Homestead Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Homestead, FL, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$38,064
$3,172.02/month · $1,464.01/biweekly · Effective Rate: 15.1%
Gross Pay
$44,836
Federal Tax
-$3,342
State Tax
$0
Local Tax
$0
FICA
-$3,430
Net Pay
$38,064
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $3,736.33 | $44,836.00 |
| Federal Income Tax | -$278.48 | -$3,341.82 |
| Florida State Tax (0%) | $0.00 | $0.00 |
| Social Security (6.2%) | -$231.65 | -$2,779.83 |
| Medicare (1.45%) | -$54.18 | -$650.12 |
| Net Take-Home Pay | $3,172.02 | $38,064.23 |
Salary Comparison: Homestead vs Other Cities
See how Homestead's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Homestead, FL | $44,836 | 95.9 | $46,753 |
| National Average | $59,384 | 100 | $59,384 |
| La Vergne, TN | $44,853 | 86.1 | $52,094 |
| Fort Smith, AR | $44,800 | 82 | $54,634 |
| Cedar Hill, TX | $44,872 | 85.9 | $52,237 |
| Alpharetta, GA | $44,901 | 89.5 | $50,169 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Homestead
Homestead's cost of living index is 95.9 (national average = 100). Living in Homestead is 4.099999999999994% less expensive than the national average.
Median Home Price
$394,000
Median Monthly Rent
$1,616
Annual Rent Cost
$19,392
Your Salary's Purchasing Power
Your $38,064 annual take-home pay in Homestead has the purchasing power of approximately $39,692 in an average-cost US area. Your $44,836 salary stretches further here than in most US cities.
Top Industries in Homestead
Homestead's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $44,836.
Salary Tips for Homestead Workers
- No state income tax advantage. Florida has no state income tax, which means more of your paycheck stays in your pocket. Invest the savings in a Roth IRA or 401(k) for long-term growth.
- Research top industries. Homestead's top industries include Tourism, Agriculture, Aerospace. Targeting roles in these sectors can help you earn above the $44,836 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
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Frequently Asked Questions
What is the median salary in Homestead, FL?
The median salary in Homestead, FL is $44,836 per year, or $22 per hour. The average salary is $50,216. This is $14,548 below the national median of $59,384.
What is the cost of living in Homestead, FL?
Homestead's cost of living index is 95.9 (national average = 100), meaning it is 4.099999999999994% less expensive compared to the national average. The median home price is $394,000 and the median monthly rent is $1,616.
What are the best industries in Homestead?
The top industries in Homestead, FL include Tourism, Agriculture, Aerospace. The city has a job growth rate of 2.6% and an unemployment rate of 2.5%. Workers in these industries often earn above the city's median salary of $44,836.
How does Homestead's salary compare to other cities?
Homestead's median salary of $44,836 is 24.5% below the national median of $59,384. However, when adjusted for cost of living (index: 95.9), the real purchasing power is approximately $46,753.
What is the minimum wage in Homestead, FL?
The minimum wage in Homestead, FL is $13.00 per hour. This equals approximately $27,040 per year for a full-time worker (40 hours/week). This is $5.75 above the federal minimum wage of $7.25/hour.