Homewood, AL—35209
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Homewood, AL
Home Price Trends — Homewood, AL
As of Oct '25, the median home price in Homewood, AL is $508,000, with a year-over-year change of 3.7%. This indicates that home prices in Homewood, AL are increasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $508,000 | 3.7% |
| Single Family | $551,000 | 4.2% |
| Condos | $234,000 | -1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $103,000 | -8.8% |
2 Bed | $281,000 | -1.1% |
3 Bed | $492,000 | 3.6% |
4 Bed | $741,000 | 3.8% |
| 5 Bed | $1,040,000 | 2.8% |
% of Housing Stock
Rental Trends — Homewood, AL
As of July '25, Rentcast reports the average rent in Homewood, AL is $1,700, with a year-over-year rent change of -4.0%. Per bedroom, the median rent as of July '25 in Homewood, AL is studios: $3,490, 1-bedrooms: $1,180, 2-bedrooms: $1,590, 3-bedrooms: $1,800, 4-bedrooms: $2,600. The most common rental property sizes in Homewood, AL are 2-bedroom and 1-bedroom, accounting for 46.0% and 31.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,440 | $1,700 |
| Studio Rent | $1,980 | $3,490 |
| 1 Bed Rent | $975 | $1,180 |
| 2 Bed Rent | $1,400 | $1,590 |
| 3 Bed Rent | $1,440 | $1,800 |
| 4 Bed Rent | $2,600 | $2,600 |
% of Rental Stock
Property Listings — Homewood, AL
As of Oct '25, Realtor.com reports that the median days on market for a home in Homewood, AL is 41. This is a decrease of -27.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $395,000 | -18.0% |
Listing Count | 81 | -1.0% |
| Listings as % of Homes | 0.3% | -1.0% |
Days on Market | 41 | -27.0% |
Demographics — Homewood, AL
As of the latest ACS Survey released in 2023, Homewood, AL has a population of 33,500, which has increased by 20.6% over the past 5 years. Homewood, AL is a moderately popular place for families, as children make up 23.1% of the population. The area has a highly educated workforce, with 54.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,500 | 20.6% |
% Under 18 | 23.1% | 6.9% |
% Seniors | 13.8% | 26.6% |
% WFH | 10.1% | 134.9% |
% w/ College Degree | 54.4% | -8.6% |
As of the latest ACS Survey released in 2023, Homewood, AL is a predominantly white area, with 63.7% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Homewood, AL is black, making up 23.7% of the population. Foreign-born residents account for 7.4% of the population in Homewood, AL, and this percentage has increased by 17.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 63.7% | -6.3% |
% Black | 23.7% | 2.6% |
% Hispanic | 7.3% | 58.7% |
% Asian | 2.7% | 3.8% |
% Foreign Born | 7.4% | 17.5% |
Mortgage and Risk — Homewood, AL
According to HUD data as of 2023, there were 435 mortgage originations in Homewood, AL, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Homewood, AL. Investor activity is low, as 3.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 435 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Homewood, AL
As of 2024, the percent of homes in Homewood, AL under the Section 8 program is 0.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Homewood, AL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 90 |
Total Units Section 8 | 83 |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $405 | $975 | $1,380 |
| 2 Bedroom | $130 | $1,400 | $1,530 |
| 3 Bedroom | $470 | $1,440 | $1,910 |
| 4 Bedroom | -$440 | $2,600 | $2,160 |
Affordability — Homewood, AL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.5 |
| Median Home Price | $508,000 |
| Median Household Income | $72,400 |