The typical owner-occupied home in Gem County is worth about $428,700, about the same as the Idaho median of $418,600 and 29% above the national median of $332,700. Owners pay a median $1,418 a year in property taxes, about 0.33% of their home's value, lower than the Idaho rate of 0.49%. The median household earns $64,605 a year, so the median home costs 6.6 times the median income (5.4 times for Idaho). 76% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Gem County at a glance
| Gem County | Idaho | U.S. | |
|---|---|---|---|
| Median home value | $428,700 | $418,600 | $332,700 |
| Median property tax paid per year | $1,418 | $2,038 | $3,119 |
| Property tax as a share of value | 0.33% | 0.49% | 0.94% |
| Median household income | $64,605 | $77,800 | $80,734 |
| Homes lived in by their owners | 76% | 72% | 65% |
| Owner homes with a mortgage | 56% | 62% | 61% |
| Median monthly costs, owners with a mortgage | $1,466 | $1,687 | $1,963 |
| Those costs as a share of the owners' income | 21.7% | 20.7% | 21.0% |
| Median rent | $1,038 | $1,238 | $1,413 |
| Rent as a share of renters' income | 26.2% | 28.7% | 30.6% |
| Median year homes were built | 1983 | 1991 | 1980 |
| Vacant homes | 3.9% | 10.3% | 10.1% |
| Population | 20,614 | 1,934,262 | 334,922,499 |
What a typical home costs per month in Gem County
At this week's average 30-year rate of 7.11%, buying the median Gem County home of $428,700 with 20% down costs about $2,604 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,318, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $111,584 for the 20%-down payment. That payment is 48% of the median Gem County household income of $64,605; at that income and 20% down, the 28% guideline points to a home of about $248,000.
The median rent here is $1,038 a month, so owning the median home costs about $1,566 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $85,740 |
|---|---|
| Loan amount | $342,960 |
| Principal and interest | $2,307 |
| Property taxes (0.33% a year) | $118 |
| Homeowners insurance (our estimate, 0.5% a year) | $179 |
| PMI | $0 |
| Total per month | $2,604 |
Change the numbers in the calculator
| Down payment | $15,004 |
|---|---|
| Loan amount | $420,935 |
| Principal and interest | $2,832 |
| Property taxes (0.33% a year) | $118 |
| Homeowners insurance (our estimate, 0.5% a year) | $179 |
| FHA mortgage insurance | $190 |
| Total per month | $3,318 |
Change the numbers in the calculator
Questions about home buying in Gem County
What is the median home value in Gem County?
About $428,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Gem County?
Homeowners pay a median $1,418 a year, which is about 0.33% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Gem County?
For the median home with 20% down at 7.11%, the payment is about $2,604 a month. Keeping that under 28% of gross income takes about $111,584 a year.
More about Gem County
- Mortgage Refinance in Gem County
- Debt Relief in Gem County
- Home Equity Loans in Gem County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data