Phelps County, Nebraska home prices
Typical home $211,324 · +2.6% in a year · property tax 1.32%
The typical home in Phelps County is worth $211,324, 24% less than the Nebraska typical home ($278,299). Values changed +2.6% in the past year and +18.8% over five years. Homeowners here pay a median 1.32% of their home's value in property tax each year ($2,790 on the typical home), versus 1.31% statewide.
Mortgage on the typical Phelps County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $42,265 | $169,059 | $1,137 | $0 | $338 | $1,475 | $63,200 |
| 10% down | $21,132 | $190,192 | $1,279 | $79 | $338 | $1,697 | $72,700 |
| 5% down | $10,566 | $200,758 | $1,351 | $84 | $338 | $1,772 | $76,000 |
| 3.5% down (FHA) | $7,396 | $207,497 | $1,396 | $93 | $338 | $1,827 | $78,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.32% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Nebraska.
Nebraska counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Adams County | $210,915 | +1.8% | 1.45% |
| Knox County | $212,114 | +5.1% | 1.15% |
| Johnson County | $214,386 | +2.6% | 1.32% |
| Antelope County | $214,956 | +4.2% | 1.23% |
| Saline County | $218,248 | +1.8% | 1.35% |
| Chase County | $218,408 | +8.4% | 1.28% |
| Greeley County | $218,638 | +8.2% | 1.29% |
| Polk County | $218,827 | +1.9% | 0.99% |
| Perkins County | $221,350 | +0.7% | 1% |
| Cherry County | $221,476 | -5.6% | 0.99% |
Frequently asked questions
What is the average home price in Phelps County, NE?
The typical home value in Phelps County is $211,324 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Phelps County?
About $63,200 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Phelps County?
The median effective rate is 1.32% of home value a year (Census ACS 2024 5-year estimates).