Rise Red Mountain
1010 Beacon Pky E,
Homewood, AL 35209
$1,595 - $2,580
1-2 Beds
Rental Market Trends in Homewood, AL
What is the average rent in Homewood, AL?
$1,153/month
Average Rent
760 Sq Ft
Average Apartment Size
-2.4%
Decrease in the Last Year
As of March 2026, the average rent in Homewood, AL is $1,153 per month. This is 29% lower than the national average rent of $1,627/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 $1,400 per month for a studio, $1,153 for a one-bedroom apartment, and around $1,445 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,816 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 decreased by 2.4%, which averages out to $27 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated March 2026
Legend
2025
2026
Rent Ranges in Homewood, AL
Last Updated March 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
18%
$700 - $1,000/month
41%
$1,001 - $1,500/month
18%
$1,501 - $2,000/month
23%
Above $2,000/month
What salary do I need to live comfortably in Homewood, AL?
Because the average rent in Homewood is $1,153, you’ll want to make about $3,843 per month or $46,116 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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20
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689
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1
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Arlington Properties
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121
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29,496
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SPM Property Management
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43
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6,844
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Engel Realty Company
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19
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2,433
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8
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S & S Property Management
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38
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4,750
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22
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3 Communities in Homewood
LMS Investment Management
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12
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2,496
Units
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11
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3 Communities in Homewood
Cardinal Group Management and Advisory, LLC
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157
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31,908
Units
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83
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Gallery Residential
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81
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20,938
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58
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
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.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
* Percentages may not total 100 due to rounding.