Homestay tourism has begun to flourish throughout the country, becoming a model of tourism innovation and upgrading, and attracting increasing amounts of capital. Through the collection and analysis of tourist questionnaire data for key cities in the Yangtze River Delta, and based on the theory of tourists' perceived value,18 factors related to the perception of homestay tourism are examined. Through exploratory factor analysis, three main factors of facilities and environment perception, cultural experience perception and service value perception are extracted. Then, from the perspectives of each of these perceptions, this study determines the degree of support for homestay tourism development in the Yangtze River Delta, obtains the key factors that affect the development of homestay tourism, and constructs a structural equation model of tourist perception and the degree of homestay tourism support. By calculating the regression path of the structural equation, the standardized path coefficients of the facilities and environment perception, cultural experience perception and service value perception are found to be 0.724, 0.813 and 0.692, respectively. These three factors have a significant impact on the development of homestay tourism agglomeration. Positive facilities and environmental perception can effectively support the development of homestay tourism, while the cultural experience perception provides its basic condition, and the service value perception constitutes an important factor of homestay tourism development. To better guide the development of homestay tourism, attention must be paid to developing the tourism facilities and environment, to cultivating tourism cultural experiences, and to improving of tourism service value.