RISE Red Mountain
1010 Beacon Pky E,
Homewood, AL 35209
1-2 Beds | $1,545 - $2,545
Rental Market Trends in Homewood, AL
What is the average rent in Homewood, AL?
$1,201/month
Average Rent
758 Sq Ft
Average Apartment Size
+2.5%
Increase in the Last Year
As of December 2024, the average rent in Homewood, AL is $1,201 per month. This is 23% lower than the national average rent of $1,560/month, making renting in Homewood more affordable than most cities in the US. When you rent an apartment in Homewood, you can expect to pay about $1,372 per month for a studio, $1,201 for a one-bedroom apartment, and around $1,459 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,867 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Homewood, AL?
In the past year, rent has increased by 2.5%, which averages out to $30 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Homewood, AL
Last Updated December 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
18%
$700 - $1,000/month
45%
$1,001 - $1,500/month
18%
$1,501 - $2,000/month
18%
Above $2,000/month
What salary do I need to live comfortably in Homewood, AL?
Because the average rent in Homewood is $1,201, you’ll want to make about $4,003 per month or $48,036 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Homewood, AL compare to other nearby cities and neighborhoods?
Use the tool below to compare Homewood, AL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Nearby City Rent Trends
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Property Management Companies in Homewood, AL
H2 Real Estate
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25
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Arlington Properties
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SPM Property Management
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Engel Realty Company
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16
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S & S Property Management
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41
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4,818
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21
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LMS Investment Management
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16
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3,535
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14
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Audubon
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21
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5,300
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17
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Henssler Property Management
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12
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2,035
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.