Homewood, Alabama Income Statistics
Homewood Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Homewood Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Homewood | Alabama Avg | US Average |
|---|---|---|---|
| Median Household Income | $89,778 | $64,544 | $80,455 |
| Median Personal Income | $75,940 | $52,756 | $60,758 |
| Average Yearly Income Growth | 4.1% | 4.7% | 4.8% |
| Six-Figure Earners | 20.8% | 9.6% | 13.9% |
| $200k+ Households | 21.9% | 7.8% | 13.2% |
The median household income in Homewood is about 39% higher than in Alabama. Income has been growing slower in Homewood (4.1%/yr) than in Alabama (4.7%/yr).
About 21% of adults in Homewood earn six figures ($100,000 or more) a year, higher than the Alabama average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Homewood, Alabama grew by 60.1% from 2009 to 2024, reaching $89,778 in 2024. That's an average of about 4.1% per year.
Homewood has stayed well above the U.S. median household income in every year from 2009 to 2024 and has never fallen below it. It came closest in 2010, at 7.2% higher. The gap has held fairly steady over the period.
Income Distribution in Homewood
How incomes are spread across brackets, compared with the U.S. Pick a range to count who falls in it.
Households by income, 2024
Income range calculator
About 4,649 households (45.6% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 16.1% of households in Homewood had an income under $35,000 and 33.8% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Homewood has a larger share of households earning $200,000 or more (21.9% vs 13.2%) and a smaller share earning $100,000 to $149,999 (11.8% vs 17.4%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 613 | 6.0% | 5.1% |
| $10,000 to $14,999 | 242 | 2.4% | 3.5% |
| $15,000 to $24,999 | 265 | 2.6% | 6.4% |
| $25,000 to $34,999 | 523 | 5.1% | 6.7% |
| $35,000 to $49,999 | 1,455 | 14.3% | 10.1% |
| $50,000 to $74,999 | 1,348 | 13.2% | 15.5% |
| $75,000 to $99,999 | 1,109 | 10.9% | 12.6% |
| $100,000 to $149,999 | 1,202 | 11.8% | 17.4% |
| $150,000 to $199,999 | 1,214 | 11.9% | 9.5% |
| $200,000 or more | 2,233 | 21.9% | 13.2% |
Shares are of all 10,206 households, one per occupied home whatever its size. Households with zero or negative income are counted in the lowest bracket. Source: ACS 5-year estimates ending 2024 (table B19001).
Residents 15+ by personal income, 2024
Income range calculator
About 4,519 residents (20.8% of residents aged 15 and over) have a personal income of $100,000 or more.
Across the U.S.: 13.9% of residents aged 15 and over.
That is 24.4% of residents who have any income.
In 2024, 14.7% of Homewood residents aged 15 and over reported no personal income, 26.5% had some income but less than $25,000, and 29.1% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Homewood has a larger share of residents earning $100,000 or more (20.8% vs 13.9%) and a smaller share earning $15,000 to $24,999 (6.9% vs 10.5%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 3,205 | 14.7% | 12.8% |
| $1 to $9,999 | 3,165 | 14.6% | 11.2% |
| $10,000 to $14,999 | 1,104 | 5.1% | 7.0% |
| $15,000 to $24,999 | 1,501 | 6.9% | 10.5% |
| $25,000 to $34,999 | 1,530 | 7.0% | 9.5% |
| $35,000 to $49,999 | 2,520 | 11.6% | 12.6% |
| $50,000 to $74,999 | 2,394 | 11.0% | 14.3% |
| $75,000 to $99,999 | 1,808 | 8.3% | 8.2% |
| $100,000 or more | 4,519 | 20.8% | 13.9% |
Shares are of the 21,747 residents aged 15 and over, the only people the Census Bureau asks about income, and include those who reported none. A share of the whole population would count children as people without income, while a share of earners alone would hide the 14.7% with no income; the calculator adds that second share whenever your range leaves out people with no income. Source: ACS 5-year estimates ending 2024 (table B19325).
Income Inequality and the Gender Pay Gap in Homewood
| Metric | Homewood | Alabama Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.575 | 0.560 | 0.552 |
| Male Median Income | $97,855 | $62,840 | $69,667 |
| Female Median Income | $64,565 | $47,036 | $56,850 |
| Gender Pay Gap | 34.0% | 25.1% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Homewood, it is 0.575, higher than Alabama's 0.560, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 52% more than women's income in Homewood, Alabama. Over a 35-year career, a 52% wage gap accumulates to roughly $1,165,150 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Homewood, Alabama has widened from about 19% to 34% in 2024. Over that period the gap was widest at 38% in 2020, and was narrowest at 15% in 2016. In dollar terms, the gap has widened by $23,345 since 2009.
Sharply against the trend: the pay gap in Homewood widened by 15.4 points while Alabama's narrowed by 1.8 points.
Employment
| Metric | Homewood | Alabama Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.5% | 4.7% | 5.2% |
| Working from Home | 13.7% | 8.8% | 15.0% |
| Commute time (minutes) | 16 | 22 | 22 |
Approximately 382 people are unemployed in Homewood, Alabama.
The average commute time in Homewood is 16 minutes, shorter than the 22 minutes in Alabama.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Homewood, Alabama has fallen from 5.5% to 2.5% in 2024. Over that period the rate peaked at 5.8% in 2013 and fell as low as 2.0% in 2022.
Homewood has stayed well below the U.S. unemployment rate in every year from 2011 to 2024 and has never risen above it. The gap has narrowed from 3.2 points in 2011 to 2.7 points in 2024, the closest it has been.
Homewood, AL Wealth Compared With Nearby Cities
Homewood, AL is the 4th largest of the 5 cities compared here, 27,106 residents against a local median of 53,683. Nothing separates Homewood, AL sharply from the cities around it. Each measure below lands within 15% of the local median, close enough that the differences are within what survey sampling alone would produce.
The largest of those small differences is median household income, 15% below the local median at $89,778 against $105,206. Homewood, AL has the 4th highest median household income of the 5 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Homewood, AL | 27,106 | $89,778 #4/5 | 4.1%/yr #4/5 | 2.5% #2/5 | 0.575 #5/5 |
| Vestavia Hills, AL | 32,245 | $112,165 | 4.4%/yr | 1.9% | 0.551 |
| Birmingham, AL | 207,255 | $49,175 | 4.5%/yr | 5.7% | 0.559 |
| Mountain Brook, AL | 23,287 | $160,102 | 6.2%/yr | 2.7% | 0.514 |
| Hoover, AL | 75,120 | $98,247 | 3.9%/yr | 3.2% | 0.512 |
Conclusion
Considering all these factors, Homewood, Alabama has an overall wealth index grade of B, making it notably better than Alabama, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Homewood, Alabama.
How Rich Is Homewood, Alabama?
Homewood has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $89,778, about 39% higher than the Alabama average of $64,544.
Are incomes growing in Homewood, Alabama?
Between 2009 and 2024, the median household income in Homewood, Alabama rose 60%, from $56,071 to $89,778. Over the same years, income here outpaced Alabama as a whole: +60% against +56%.
What was the median household income in Homewood in 2023?
In 2023, the median household income in Homewood, Alabama was $94,480, up 1% from $93,085 in 2022. The Alabama median that year was $62,326.
What was the median household income in Homewood in 2020?
In 2020, the median household income in Homewood, Alabama was $80,982. By 2024 it had risen 11% to $89,778.
Do many residents of Homewood, Alabama earn over $100,000?
Yes. 21% of adults in Homewood, Alabama earn $100,000 or more a year (about 1 in 5), against 10% (about 1 in 10) in Alabama. 22% of households have a combined income of $200,000 or more, compared with 8% in Alabama.
How strong is the job market in Homewood, Alabama?
Unemployment in Homewood, Alabama is only 2.5%, well below the Alabama rate of 4.7%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Homewood, Alabama?
The Gini coefficient in Homewood is 0.575. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Homewood, Alabama?
Since 2009, the income gap between men and women in Homewood, Alabama has widened from about 19% to 34% in 2024. Over that period the gap was widest at 38% in 2020, and was narrowest at 15% in 2016. In dollar terms, the gap has widened by $23,345 since 2009.
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