Cost of Living in Phelps County, Nebraska
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
Data Story
About Cost of Living in Phelps County, Nebraska
Phelps offers solid affordability below state average
Phelps County renters spend 13.2% of their income on housing, comfortably below Nebraska's 14.2% state average and well within national norms. The median household income of $65,988 is slightly below the national average of $74,755, but housing costs are proportionally manageable.
Above-average affordability for Nebraska renters
Phelps County ranks in the better half of Nebraska counties for rental affordability at 13.2% rent-to-income, outperforming the state average. Its $724 median rent is $59 cheaper than the state average of $783.
Moderate rent with higher home values
Phelps' $724 monthly rent is cheaper than most neighbors—only Nuckolls and Pawnee are lower—while its median home value of $173,300 is substantial. This makes Phelps attractive for renters but requiring serious commitment from buyers compared to cheaper counties.
Renters enjoy better affordability than owners
Phelps households earn $65,988 annually, with renters spending $724 (13.2% of income) and homeowners spending $844 (15.3% of income). This gap suggests Phelps' home values have risen faster than local wage growth, benefiting renters relative to buyers.
Phelps suits renters seeking good value
If you're renting, Phelps County delivers better-than-state-average affordability with moderate monthly costs and solid median income of $65,988. Prospective homebuyers should note that ownership costs rise noticeably relative to rent, making this better suited for long-term renters.
Affordability Calculator
See how your income compares to housing costs in Phelps County
Rent Burden
13.2%
of gross income
Max Housing (28% Rule)
$1,540
per month
Owner Cost Burden
15.3%
of gross income
You can likely afford the median home in Phelps County
Median home value is $173,300. Estimated monthly cost: $1,384 vs. your max of $1,540.
Rent Affordability Guide
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.