folk vs homefolk

folk and homefolk both are nouns.

Word	Noun	Adjective	Verb	Adverb
folk	Yes	No	No	No
homefolk	Yes	No	No	No

As nouns, homefolk is a hyponym of folk; that is, homefolk is a word with a more specific, narrower meaning than folk:

Other hyponyms of folk include people, house, dynasty, gens, name.

folk (noun)	homefolk (noun)
the traditional and typically anonymous music that is an expression of the life of people in a community	the people of your home locality (especially your own family)
people in general (often used in the plural)
a social division of (usually preliterate) people
people descended from a common ancestor