I guarantee you that ICANN will never allocate .local because the risk of collision is too high. They've already made that determination for .corp, .mail, and .home: https://www.icann.org/resources/board-material/resolutions-2...
.home is used more than .dev? I find that hard to believe.
I’ve literally never ever seen any .home until now.
https://security.stackexchange.com/questions/14802/if-someon...
But generally speaking a subdomain on a domain you really own seems like a better idea.
https://serverfault.com/questions/17255/top-level-domain-dom...