Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$211,324+2.6% YoY · prices are rising
Market right nowBalanced marketMore homes for sale than last year, 8% have cut their price
Income needed to buy, per year$45,811About 0.6× the local median income ($78,735): affordable for a typical household
Days on market89 daysFaster than a year ago: sellers have the edge
The typical home in Phelps County, NE is worth $211,324, up 2.6% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $196,224, so the area is 7.7% overvalued. It is a balanced market: homes take about 89 days to sell, listings are up 62% from a year ago, 8% of listings have had a price cut. A household needs about $45,811 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $78,735. In the latest IRS figures, 54 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$211,324
Change in 1 year
+2.6%
Overvalued %
+7.7%
Show 6 more
Fair home value
$196,224
Change in 5 years
+18.8%
Home value to income
2.7×
Monthly mortgage payment (20% down)
$1,145
Income needed to afford it
$45,811
Property tax rate
1.32%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,014
Market activity
Listings vs a year ago
+62.5%
Days on market
89
Listings with a price cut
7.5%
Show 3 more
Homes for sale
26
Pending sales per 100 listings
62
Asking price per sq ft
$116
People and jobs
Median household income
$78,735
Population change (1 year)
−0.4%
Unemployment rate
1.2%
Show 4 more
Population
8,994
Income adjusted for cost of living
$91,234
Net moves in (IRS)
−54
Cost of living (US = 100)
86.3
Schools, risk and environment
School rating (1 to 10)
5.1
FEMA hazard risk score (0 to 100)
39.2
Flood risk score
17.0
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Wildfire risk score
7.9
Walkability (1 to 20)
7.5
Road, rail and air noise
51 dB
Questions people ask
Is Phelps County, NE overvalued?
Home prices in Phelps County, NE are slightly above what local incomes have historically supported: fair value is about $196,224, so the area is 7.7% overvalued.
Is Phelps County, NE a buyer's or seller's market?
Phelps County, NE is a balanced market: homes take about 89 days to sell, listings are up 62% from a year ago, 8% of listings have had a price cut.
Are home prices going down in Phelps County, NE?
Home values in Phelps County, NE are up 2.6% over the last year.
How much do you need to earn to buy a home in Phelps County, NE?
A household needs about $45,811 a year to afford the typical home in Phelps County, NE at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $78,735.