The typical owner-occupied home in Phillips County is worth about $78,200, 58% below the Arkansas median of $188,000 and 76% below the national median of $332,700. Owners pay a median $636 a year in property taxes, about 0.81% of their home's value, higher than the Arkansas rate of 0.55%. The median household earns $40,134 a year, so the median home costs 1.9 times the median income (3.1 times for Arkansas). 51% of occupied homes here are lived in by their owners, and 32% of those owners still have a mortgage.
Phillips County at a glance
| Phillips County | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $78,200 | $188,000 | $332,700 |
| Median property tax paid per year | $636 | $1,040 | $3,119 |
| Property tax as a share of value | 0.81% | 0.55% | 0.94% |
| Median household income | $40,134 | $60,773 | $80,734 |
| Homes lived in by their owners | 51% | 66% | 65% |
| Owner homes with a mortgage | 32% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $1,156 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 18.6% | 18.5% | 21.0% |
| Median rent | $737 | $947 | $1,413 |
| Rent as a share of renters' income | 36.7% | 27.6% | 30.6% |
| Median year homes were built | 1974 | 1987 | 1980 |
| Vacant homes | 27.9% | 13.5% | 10.1% |
| Population | 15,450 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Phillips County
At this week's average 30-year rate of 7.11%, buying the median Phillips County home of $78,200 with 20% down costs about $506 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $636, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $21,695 for the 20%-down payment. That payment is 15% of the median Phillips County household income of $40,134; at that income and 20% down, the 28% guideline points to a home of about $145,000.
The median rent here is $737 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $15,640 |
|---|---|
| Loan amount | $62,560 |
| Principal and interest | $421 |
| Property taxes (0.81% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $33 |
| PMI | $0 |
| Total per month | $506 |
Change the numbers in the calculator
| Down payment | $2,737 |
|---|---|
| Loan amount | $76,784 |
| Principal and interest | $517 |
| Property taxes (0.81% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $33 |
| FHA mortgage insurance | $35 |
| Total per month | $636 |
Change the numbers in the calculator
Questions about home buying in Phillips County
What is the median home value in Phillips County?
About $78,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Phillips County?
Homeowners pay a median $636 a year, which is about 0.81% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Phillips County?
For the median home with 20% down at 7.11%, the payment is about $506 a month. Keeping that under 28% of gross income takes about $21,695 a year.
More about Phillips County
- Mortgage Refinance in Phillips County
- Debt Relief in Phillips County
- Home Equity Loans in Phillips County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data