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Affordable
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These days, finding an affordable place to live in the Jerome area can be challenging. Home prices in Jerome are now at a median cost of $262,914, higher than the Michigan average of $250,415.
The average cost of rent is $1,484/mo in Jerome, primarily driven by the current value of real estate in the Jerome area. In Jerome, 10.20% of households rent, and 35.74% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Jerome is $7,098 per month. Households that rent pay about 20.91% of their income on rent here. Jerome’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Somerset Center, MI: less expensive homes
- Somerset, MI: equally priced homes
- Moscow, MI: less expensive homes
- Cement City, MI: less expensive homes
- Horton, MI: equally priced homes
- Clarklake, MI: higher priced homes
- North Adams, MI: less expensive homes
- Addison, MI: less expensive homes
- Liberty, MI: less expensive homes
- Hanover, MI: less expensive homes
Cities with Similar Populations
- Highspire, PA: less expensive homes
- Chico, TX: higher priced homes
- Cobden, IL: less expensive homes
- Sebree, KY: less expensive homes
- Ashville, NY: less expensive homes
- Magdalena, NM: less expensive homes
- Manawa, WI: less expensive homes
- Markleville, IN: less expensive homes
- Marriott-Slaterville, UT: higher priced homes
- Mexico, ME: less expensive homes
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