Jerome cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexJeromeIdahoNational
Cost of living index8592100
IndexJeromeIdahoNational
Goods & Services index9393100
Groceries index9395100
Health care index98103100
Housing index6488100
Transportation index9993100
Utilities index9487100
Displayed above is a general overview of the Jerome, ID cost of living index. The overall cost of living index in Jerome, ID is 85, which is 7% lower than the Idaho average and 15% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Jerome, ID are equal to the Idaho average and 7% lower than the national average.

Did you know?

  • The cost of living in Jerome is 7% lower than the Idaho average.
  • The cost of living in Jerome is 15% lower than the national average.
  • The cost of housing in Jerome is 36% lower than the national average.
  • Idaho general sales tax is 18% higher than the national average.
  • Idaho state income tax is 28% lower than the national average.

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Salary Calculator

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Health care index
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Use the salary calculator to compare your current income in Jerome, ID to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Jerome, ID, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Jerome, ID salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$43,585$3,632$1,017$1,308
Renters$22,360$1,863$522$671
One can approximate the cost of living and the housing affordability in Jerome, ID by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Jerome, ID have a median income of $43,585. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,017 per month to avoid calamity and poverty. The renters in the city have an income of about $22,360, which would make their monthly maximum allowable rental costs $522.

Idaho Sales Tax

StateGeneral Sales TaxWith Max Surtax
Idaho6%8.5%

Idaho Income Tax

StateIncome Tax (Low)Income Tax (High)
Idaho1.6%7.4%
When you are determining the total cost of living in Jerome, ID you will want to make sure you consider both the Idaho sales tax and the Idaho income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Idaho is 6%, with the highest surtax being 8.5%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Idaho have a range from 1.6% to 7.4%.

Goods & Services

ItemJeromeNational avg.Difference
Haircut $11.00$14.5924.6%
Beauty Salon $22.50$34.6835.1%
Toothpaste $2.85$2.4715.2%
Shampoo $1.06$1.023.7%
Movie $10.00$9.871.3%
Bowling $3.75$4.3914.6%

Groceries

ItemJeromeNational avg.Difference
Ground Beef $2.86$4.4836.1%
Fried Chicken $1.09$1.4625.5%
Milk $1.36$2.3642.3%
Potatoes $2.25$3.0626.5%
Pizza $7.99$9.2413.6%
Beer $8.24$8.634.6%

Health Care

ItemJeromeNational avg.Difference
Optometrist $107.00$99.787.2%
Doctor $97.00$105.037.6%
Dentist $92.50$88.704.3%
Ibuprofen $9.89$9.415.1%
Lipitor $272.50$298.508.7%

Housing

ItemJeromeNational avg.Difference
Home Price $106,700.00$175,700.0039.3%
Avg. Mortgage Payment $959.54$1,081.0311.2%
Apartment Rent $665.00$920.0027.7%

Transportation

ItemJeromeNational avg.Difference
Gasoline $2.14$2.092.3%
Tire Balancing $40.00$45.2911.7%

Utilities

ItemJeromeNational avg.Difference
All Electricity$144.23$170.8015.6%
Phone $29.99$28.266.1%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Buhl, ID4,16683-17%
Hansen, ID1,43385-15%
Dietrich, ID30585-15%
Wendell, ID2,73685-15%
Filer, ID2,57686-14%
Jerome, ID11,04685-15%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Brooklyn, OH11,04793-7%
Robinson, TX11,05194-6%
Chelsea, AL11,0511066%
Gardnerville Ranchos, NV11,04012323%
Lake Arbor, MD11,05212424%
Jerome, ID11,04685-15%
Source: The Jerome, ID cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.