Historically, Touch ID will not function if the Home Button is replaced. For security reasons, only the original Home Button will function. The Home Button will click fine but Touch ID will not work. Today, the iPhone 7 Home Button cannot be replaced to a functioning state at all if broken and replaced. Again, the iPhone 7 will never click again or perform Touch ID if broken and replaced. This ensures absolute security with Touch ID in exchange for a small inconvenience.
iPhone 6S and 6S Plus Home Button - $45
iPhone 6 and 6 Plus Home Button- $45
iPhone 5S/5C/5 Home Button - $45
iPhone 4/4S Home Button - $65 or $50