Jerome, IL housing market
The typical Jerome home is worth about $162,000, up 8.2% in a year, 46% below the Illinois typical home. Homes typically sell in 61 days, a little above asking.
Home values, sales, trends and how Jerome compares with the towns next door — updated as new data is published.
Jerome at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Typical home value, 2016–2026
Show as a table
| January | Jerome | Illinois |
|---|---|---|
| 2017 | $98,000 | $181,000 |
| 2018 | $99,000 | $190,000 |
| 2019 | $100,000 | $195,000 |
| 2020 | $105,000 | $200,000 |
| 2021 | $111,000 | $215,000 |
| 2022 | $123,000 | $236,000 |
| 2023 | $128,000 | $248,000 |
| 2024 | $143,000 | $263,000 |
| 2025 | $150,000 | $278,000 |
| 2026 | $157,000 | $290,000 |
| August 2026 | $162,000 | $298,000 |
No new homes permitted in 2025
No permits for new homes were issued in Jerome in 2025 or in any year since 2000.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Jerome gained 36 residents with no new homes permitted, so the growth came from existing homes.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 0 | 0 | 0 | — |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 0 | 0 | 0 | — |
| 2006 | 0 | 0 | 0 | — |
| 2005 | 0 | 0 | 0 | — |
| 2004 | 0 | 0 | 0 | — |
| 2003 | 0 | 0 | 0 | — |
| 2002 | 0 | 0 | 0 | — |
| 2001 | 0 | 0 | 0 | — |
| 2000 | 0 | 0 | 0 | — |
Jerome's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Jerome and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Jerome | $162K | +8.2% | $1,200 | 0 | $65,189 |
| Woodside | — | +4.3%† | $1,340 | — | $73,007 |
† FHFA price index change, where Zillow has no home value for the town.
2.5 years of income
The typical Jerome home costs about 2.5 years of the town's median household income, less than across Illinois (3.6 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,200
HUD's Fair Market Rent for a two-bedroom in Jerome is $1,200 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Jerome pay a median of $951, so moving in tends to cost more than staying put. A two-bedroom takes about 22% of the town's median household income.
Studio $830 · 4 bedrooms $1,680
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (62704; Springfield, IL MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.