Cost of Living in Phelps County, Missouri
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Phelps County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Phelps County ranks #2,285 of 3,144 counties for affordability (bottom 27%)
Data Story
About Cost of Living in Phelps County, Missouri
Phelps rents eat more than most
Renters in Phelps County spend 17.3% of income on rent, above the national sweet spot of roughly 15%. With a median household income of $55,427—nearly $20,000 below the U.S. average of $74,755—housing costs take a larger bite of paychecks here than they do nationally.
Slightly tighter than Missouri average
Phelps County's 17.3% rent-to-income ratio exceeds Missouri's state average of 15.6%, putting it in the less affordable half of the state. However, the median rent of $801 is only $33 higher than the state median, suggesting the affordability gap is driven more by lower incomes than soaring rents.
Pricier than Pike, tighter than Pulaski
Phelps rents ($801/month) run higher than nearby Pike County ($742) but significantly lower than Pulaski County ($1,072). Renters here face moderate pressure—better than Pulaski's pinch but worse than Pike's bargain.
Renters feel it; homeowners manage
The median rent of $801/month consumes 17.3% of the median household income, while the median mortgage cost of $796 takes roughly 17.2% for homeowners. Both paths lean toward affordability stress, yet homeownership costs remain comparable to rental, offering little advantage to buyers.
Consider Phelps if stability matters most
Phelps offers stable, modestly priced housing with median home values around $194,900, making it an option for buyers seeking solid footing without big-city prices. Compare closely with Pike County if you prioritize rock-bottom rents, or consider Pulaski if job opportunities justify higher costs.
Cost of Living Advisory: Phelps County
Affordability Verdict
Housing in Phelps County is affordable. The median rent is $801/month against a median household income of $55,427, putting rent at 17.3% of income.
Rent vs. Own
At $801/month rent versus $796/month in owner costs, owning is roughly $5/month cheaper — a 1% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $32,040/year. For owner costs at the 28% rule, the required income is roughly $34,114/year. With a median household income of $55,427, most households can comfortably afford rent here. Notably, 32.0% of renter households in Phelps County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Phelps County sits 7% more expensive than Barry County ($750/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Phelps County
Rent Burden
17.3%
of gross income
Max Housing (28% Rule)
$1,293
per month
Owner Cost Burden
17.2%
of gross income
The median home in Phelps County may be a stretch
Median home value is $194,900. Estimated monthly cost: $1,556 vs. your max of $1,293.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
What is the cost of living in Phelps County, Missouri?
What is the median rent in Phelps County?
Is Phelps County affordable?
How does Phelps County's rent compare to the state average?
What is the median home value in Phelps County?
Counties with Similar Housing Costs
Planning a Move?
Researching the cost of living in Phelps County, Missouri? Compare moving quotes from top providers and save on your relocation.
Compare Moving QuotesCompare Mortgage Rates in Phelps County
Whether you're buying your first home or refinancing, compare rates from top lenders to find the best deal.
See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
CostByCounty participates in affiliate programs. We may earn a commission when you use our links, at no extra cost to you.