Phelps County, Nebraska Housing Market

In Phelps County, Nebraska, the median home value is $194,900, with a median monthly rent of $815. This places Phelps County at #1455 nationally out of 3134 counties by median home value, and #23 within Nebraska.

Median Home Value $194,900
Median Rent $815/mo
Owner Occupancy 68.3%
Price/Rent Ratio 19.9

📈 Price Trend (2017 → 2024)

📊 Recent Market Momentum (FHFA HPI)

FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025

💡 Year-over-Year Trend: Home prices in Phelps County rose +3.3% year-over-year as of 2025. (Source: FHFA)

📍 Economic Snapshot

💼

Employment & Wages

4,102
jobs (private sector)
  • Avg weekly wage: $1,146
  • Establishments: 385
  • BLS QCEW, 2025
🏗️

Housing Supply

9
new units authorized (2025)
  • Single-family: 7
  • Multi-family: 2
  • U.S. Census Bureau, Building Permits Survey
🚚

Migration Patterns

+253
net migration (filers, 2021-2022)
  • Inflow: 3,767 (avg $86,328)
  • Outflow: 3,514 (avg $88,943)
  • IRS Statistics of Income

How Phelps County Compares

MetricPhelps CountyNebraska AverageU.S. Average
Median Home Value $194,900 $164,635 $227,706
Median Gross Rent $815 $796 $968
Owner Occupancy Rate 68.3% 74.0% 73.3%
Price/Rent Ratio 19.9 17.2 18.7

Market Analysis

The median home value in Phelps County is 18.4% above the Nebraska state average and 14.4% below the U.S. national average. The median rent of $815/month is 2.4% above the state average.

With a price-to-rent ratio of 19.9, the buy-vs-rent decision in Phelps County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.

Phelps County has an owner-occupancy rate of 68.3%, compared to 74.0% in Nebraska and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.

Similar Counties by Home Value

CountyStateMedian Home ValueMedian Rent
Columbia County Florida $194,900 $976
Franklin County Maine $194,700 $802
Jefferson County Indiana $194,600 $890
Marion County Tennessee $195,200 $853
Jones County Georgia $194,500 $964

Other Counties in Nebraska

CountyMedian Home ValueMedian RentOwner Occ.
Stanton County $195,400 $902 78.3%
Pierce County $196,000 $884 78.1%
Adams County $193,100 $857 69.7%
Saline County $197,400 $914 75.9%
Polk County $189,900 $681 78.9%

Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).