The typical owner-occupied home in Jerome is worth about $180,800, 29% below the Pennsylvania median of $254,500 and 46% below the national median of $332,700. Owners pay a median $1,790 a year in property taxes, about 0.99% of their home's value, lower than the Pennsylvania rate of 1.30%. The median household earns $84,958 a year, so the median home costs 2.1 times the median income (3.3 times for Pennsylvania). 92% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Jerome at a glance
| Jerome | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $180,800 | $254,500 | $332,700 |
| Median property tax paid per year | $1,790 | $3,311 | $3,119 |
| Property tax as a share of value | 0.99% | 1.30% | 0.94% |
| Median household income | $84,958 | $77,971 | $80,734 |
| Homes lived in by their owners | 92% | 69% | 65% |
| Owner homes with a mortgage | 52% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,058 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 14.6% | 19.4% | 21.0% |
| Median rent | – | $1,209 | $1,413 |
| Median year homes were built | 1938 | 1965 | 1980 |
| Vacant homes | 33.2% | 9.2% | 10.1% |
| Population | 611 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Jerome
At this week's average 30-year rate of 7.11%, buying the median Jerome home of $180,800 with 20% down costs about $1,197 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,499, 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 $51,321 for the 20%-down payment. That payment is 17% of the median Jerome household income of $84,958; at that income and 20% down, the 28% guideline points to a home of about $299,000.
| Down payment | $36,160 |
|---|---|
| Loan amount | $144,640 |
| Principal and interest | $973 |
| Property taxes (0.99% a year) | $149 |
| Homeowners insurance (our estimate, 0.5% a year) | $75 |
| PMI | $0 |
| Total per month | $1,197 |
Change the numbers in the calculator
| Down payment | $6,328 |
|---|---|
| Loan amount | $177,525 |
| Principal and interest | $1,194 |
| Property taxes (0.99% a year) | $149 |
| Homeowners insurance (our estimate, 0.5% a year) | $75 |
| FHA mortgage insurance | $80 |
| Total per month | $1,499 |
Change the numbers in the calculator
Questions about home buying in Jerome
What is the median home value in Jerome?
About $180,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Jerome?
Homeowners pay a median $1,790 a year, which is about 0.99% 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 Jerome?
For the median home with 20% down at 7.11%, the payment is about $1,197 a month. Keeping that under 28% of gross income takes about $51,321 a year.
More about Jerome
- Mortgage Refinance in Jerome
- Debt Relief in Jerome
- Home Equity Loans in Jerome
- 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