Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Phillips County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $153,125 | $104,507 | $242,182 |
| Price Trend (Annual %) | 7.5% | 5.0% | 8.2% |
| Median Gross Rent | $620 | $1,029 | $1,342 |
| Rent Trend (Annual %) | 2.7% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Phillips County is about 47% higher than in Kansas. Rent is about 40% lower than the Kansas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Phillips County, up about 7.5% and 2.7% a year respectively. Home prices are changing faster.
Median rent in Phillips County rose about 21.7% between 2015 and 2023, from $510 to $620. Over the same span, rent in Kansas rose about 35.9%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Phillips County.
Buying the median-priced home in Phillips County costs roughly 20.6 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Phillips County. The price-to-rent ratio in Kansas is about 8.5.
| Metric | Phillips County | Kansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $153,125 | $104,507 | $242,182 |
| Median Household Income | $62,165 | $72,682 | $78,145 |
| Price-to-Income Ratio | 2.5 | 1.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Phillips County rose about 135.6%, while median household income rose about 41.9% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Phillips County | Kansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.5% | 60.4% | 58.2% |
| Rental Rate | 19.6% | 29.9% | 31.3% |
| Vacancy Rate | 22.0% | 9.7% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Phillips County has a homeownership rate of 58.5%, lower than the Kansas average of 60.4%. Its housing vacancy rate is 22.0%, compared with 9.7% in Kansas.
Housing Stock
| Metric | Phillips County | Kansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.20 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1955 | 1974 | 1978 |
| Median Number of Rooms | 6.2 | 6.0 | 5.5 |
The typical housing unit in Phillips County was built around 1955. On average, 2.2 people live in a home with about 6.2 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Phillips County, Kansas.
What is the median home price in Phillips County, Kansas?
The median home price in Phillips County, Kansas is $153,125, higher than the Kansas average of $104,507.
What is the average home price in Phillips County, Kansas?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Phillips County, Kansas?
The median gross rent in Phillips County, Kansas is $620 per month, lower than the Kansas average of $1,029.
What was the median gross rent in Phillips County in 2020?
In 2020, the median gross rent in Phillips County, Kansas was $576 per month.
What is the price-to-rent ratio in Phillips County, Kansas?
The price-to-rent ratio in Phillips County, Kansas is about 20.6, meaning it would take roughly 20.6 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Phillips County.
Are home prices or rent rising faster in Phillips County, Kansas?
Both home prices and rent are rising in Phillips County, up about 7.5% and 2.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Phillips County, Kansas?
58.5% of households in Phillips County, Kansas own their home, lower than the Kansas average of 60.4%.
What is the vacancy rate in Phillips County, Kansas?
The housing vacancy rate in Phillips County, Kansas is 22.0%, higher than the Kansas average of 9.7%.