Jerome, ID

Very Low · 67

Idaho · Population 12,689 · Updated March 2026

$900
Median Rent / Month
$65,343
Median Income
$214,900
Median Home Value
$1,019
Owner Costs / Month

Affordability

How far your income goes in Jerome

16.5%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Idaho

State-level tax rates that affect your costs

5.8%
Income Tax (Top Rate)
6.0%
Sales Tax
0.63%
Property Tax Rate

Estimated Annual Costs

$10,800
Annual Rent
$3,790
State Income Tax
$1,354
Property Tax (est.)

Cost of Living Overview

Jerome is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 67 (where 100 equals the national median), Jerome residents can expect to pay median rent of $900/month while earning a median household income of $65,343/year.

The median home value in Jerome, ID is $214,900, with typical monthly owner costs around $1,019 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.5% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Idaho has a moderate income tax rate of 5.8%. Combined with a 6.0% sales tax rate and 0.63% effective property tax rate, the overall tax environment is a factor in the total cost of living in Jerome.

Frequently Asked Questions

Common questions about living costs in Jerome

What is the cost of living in Jerome, ID?
The cost of living index in Jerome, ID is 67 (US average = 100). Median monthly rent is $900, median household income is $65,343/year, and the median home value is $214,900.
Is Jerome, ID affordable?
Yes, Jerome is more affordable than the national average with a cost index of 67. The rent-to-income ratio is 16.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Jerome, ID?
The median gross rent in Jerome, ID is $900 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,800.
What is the median household income in Jerome?
The median household income in Jerome, ID is $65,343 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Idaho?
Idaho has a top income tax rate of 5.8%, a sales tax of 6.0%, and an effective property tax rate of 0.63%.