Jerome, ID—83338
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Jerome, ID
As of Oct '25, the median home price in Jerome, ID is $395,000, with a year-over-year change of 2.9%. This indicates that home prices in Jerome, ID are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $395,000 | 2.9% |
| Single Family | $395,000 | 3.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $260,000 | 2.0% |
3 Bed | $358,000 | 2.0% |
4 Bed | $427,000 | 2.9% |
| 5 Bed | $543,000 | 4.0% |
% of Housing Stock
Rental Trends — Jerome, ID
As of July '25, Rentcast reports the average rent in Jerome, ID is $1,360, with a year-over-year rent change of -9.9%. Per bedroom, the median rent as of July '25 in Jerome, ID is 1-bedrooms: $880, 2-bedrooms: $1,400, 3-bedrooms: $1,470. The most common rental property sizes in Jerome, ID are 3-bedroom and 2-bedroom, accounting for 41.7% and 31.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,360 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $880 | $880 |
| 2 Bed Rent | $1,400 | $1,400 |
| 3 Bed Rent | $1,400 | $1,470 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Jerome, ID
As of Oct '25, Realtor.com reports that the median days on market for a home in Jerome, ID is 75. This is a decrease of -15.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $388,000 | 4.0% |
Listing Count | 125 | 39.0% |
| Listings as % of Homes | 0.9% | 39.0% |
Days on Market | 75 | -15.0% |
Demographics — Jerome, ID
As of the latest ACS Survey released in 2023, Jerome, ID has a population of 21,800, which has increased by 4.6% over the past 5 years. Jerome, ID is a popular place for families, as children make up 30.0% of the population. The area has a poorly educated workforce, with 12.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,800 | 4.6% |
% Under 18 | 30.0% | -3.2% |
% Seniors | 12.6% | 2.4% |
% WFH | 4.9% | 69.0% |
% w/ College Degree | 12.7% | -13.6% |
As of the latest ACS Survey released in 2023, Jerome, ID is a predominantly white area, with 56.3% of the population identifying as white. The white population has shrunk by 8.2% in the last 5 years. The second most common race or ethnicity in Jerome, ID is hispanic, making up 39.7% of the population. Foreign-born residents account for 18.9% of the population in Jerome, ID, and this percentage has increased by 17.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 56.3% | -8.2% |
% Black | 0.1% | 0.0% |
% Hispanic | 39.7% | 8.5% |
% Asian | 0.3% | -40.0% |
% Foreign Born | 18.9% | 17.4% |
Mortgage and Risk — Jerome, ID
According to HUD data as of 2023, there were 425 mortgage originations in Jerome, ID, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Jerome, ID. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 425 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Jerome, ID
Jerome, ID lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 128 |
Total Units Section 8 | 78 |
% Rentals under Section 8 | 4.3% |
% Occupied Section 8 | 86.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $880 | $890 |
| 2 Bedroom | -$280 | $1,400 | $1,120 |
| 3 Bedroom | $140 | $1,400 | $1,540 |
| 4 Bedroom | N/A | N/A | $1,880 |
Affordability — Jerome, ID
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $395,000 |
| Median Household Income | $70,500 |