The typical owner-occupied home in Jamaica is worth about $279,700, 12% below the Vermont median of $316,600 and 16% below the national median of $332,700. Owners pay a median $4,350 a year in property taxes, about 1.56% of their home's value, close to the Vermont rate of 1.59%. The median household earns $84,875 a year, so the median home costs 3.3 times the median income (3.9 times for Vermont). 100% of occupied homes here are lived in by their owners, and 85% of those owners still have a mortgage.
Jamaica at a glance
| Jamaica | Vermont | U.S. | |
|---|---|---|---|
| Median home value | $279,700 | $316,600 | $332,700 |
| Median property tax paid per year | $4,350 | $5,039 | $3,119 |
| Property tax as a share of value | 1.56% | 1.59% | 0.94% |
| Median household income | $84,875 | $81,203 | $80,734 |
| Homes lived in by their owners | 100% | 73% | 65% |
| Owner homes with a mortgage | 85% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,813 | $1,907 | $1,963 |
| Those costs as a share of the owners' income | 21.6% | 21.7% | 21.0% |
| Median rent | – | $1,234 | $1,413 |
| Median year homes were built | 1938 | 1976 | 1980 |
| Vacant homes | 68.2% | 19.4% | 10.1% |
| Population | 59 | 647,106 | 334,922,499 |
What a typical home costs per month in Jamaica
At this week's average 30-year rate of 7.11%, buying the median Jamaica home of $279,700 with 20% down costs about $1,985 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,451, 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 $85,089 for the 20%-down payment. That payment is 28% of the median Jamaica household income of $84,875; at that income and 20% down, the 28% guideline points to a home of about $279,000.
| Down payment | $55,940 |
|---|---|
| Loan amount | $223,760 |
| Principal and interest | $1,505 |
| Property taxes (1.56% a year) | $364 |
| Homeowners insurance (our estimate, 0.5% a year) | $117 |
| PMI | $0 |
| Total per month | $1,985 |
Change the numbers in the calculator
| Down payment | $9,790 |
|---|---|
| Loan amount | $274,634 |
| Principal and interest | $1,847 |
| Property taxes (1.56% a year) | $364 |
| Homeowners insurance (our estimate, 0.5% a year) | $117 |
| FHA mortgage insurance | $124 |
| Total per month | $2,451 |
Change the numbers in the calculator
Questions about home buying in Jamaica
What is the median home value in Jamaica?
About $279,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Jamaica?
Homeowners pay a median $4,350 a year, which is about 1.56% 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 Jamaica?
For the median home with 20% down at 7.11%, the payment is about $1,985 a month. Keeping that under 28% of gross income takes about $85,089 a year.
More about Jamaica
- Mortgage Refinance in Jamaica
- Debt Relief in Jamaica
- Home Equity Loans in Jamaica
- 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