<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   04/22/03  TZ    -->
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-07-02</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000833795</issuerCik>
        <issuerName>HOMEFED CORP</issuerName>
        <issuerTradingSymbol>HFDC.OB</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
      <reportingOwnerId>
            <rptOwnerCik>0001251282</rptOwnerCik>
            <rptOwnerName>CONSIDINE TIMOTHY M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
       </reportingOwnerRelationship>
   </reportingOwner>
   <nonDerivativeSecurity>
      <securityTitle>
         <value>Common Stock $.01 per share</value>
      </securityTitle>
      <transactionDate>
         <value>2003-07-02</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>P</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>141</value>
         </transactionShares>
         <transactionValue>
           <value>2.74</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
     <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>15175</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeSecurity>
   <ownerSignature>
      <signatureName>Timothy M. Considine</signatureName>
      <signatureDate>2003-07-02</signatureDate>
   </ownerSignature>
</ownershipDocument>
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X0101
4
2003-07-02
0
0000833795
HOMEFED CORP
HFDC.OB
0001251282
CONSIDINE TIMOTHY M
1
0
0
0
Common Stock $.01 per share
2003-07-02
4
P
0
141
2.74
A
15175
D
Timothy M. Considine
2003-07-02