We have produced high quality, epitaxial and phase pure thin films of BiFe0.5Mn0.5O3 (BFMO) grown on (001) SrTiO3 substrates using pulsed laser deposition. The magnetic transition temperature is strongly enhanced up to ~600 K, which is >300K higher than for the pure bulk material. Understanding the complex origin of the room temperature ferro(i)magnetism of strained BFMO is of importance for our basic understanding but also that it is a prospective room temperature spin filter material for magnetic tunnel devices. Strained BFMO may also have the potential for room temperature magnetoelectricity.