Consultant: Homewood's population, jobs and housing market show strong demand

At the Ward 3 visioning workshop, consultant Tripp Muldrow presented a preliminary demographic and market profile he said will be refined with source checks.

"The 2025 estimates from the census put you a little over 28,000," Muldrow said, noting the figure is an estimate and subject to refinement. He told attendees Homewood's population growth has been steady since 1960 and that a nearby university skews the median age younger.

Muldrow said the city's median household income is roughly $113,000 to $114,000, and that 69% of residents hold a bachelor's degree or higher. He emphasized a significant jobs base: "The jobs in Homewood, 37,600," Muldrow said, adding that most jobs are filled by nonresidents who commute into the city.

That inflow, he said, makes Homewood both an employment and retail center: the consultant called Homewood a roughly $1 billion retail market and noted the city "imports" retail spending because residents shop elsewhere; he estimated a gap on the order of several hundred million dollars in local spending.

On housing, Muldrow reported about 60% owner-occupancy and a median owner-occupied value near $574,000, with Zillow showing about a 5% year-over-year increase. He described the housing stock as older (only about 15% built since 2000), which shapes discussions about compatibility, reinvestment and potential multifamily options in targeted areas.

Muldrow cautioned that the figures are preliminary and may be refined with additional source verification, but he said the broad picture is a city with a strong employment base, high incomes and ongoing market demand for restaurants and consumer services.