The typical owner-occupied home in Phillips County is worth about $258,200, 52% below the Colorado median of $539,400 and 22% below the national median of $332,700. Owners pay a median $1,456 a year in property taxes, about 0.56% of their home's value, higher than the Colorado rate of 0.48%. The median household earns $64,674 a year, so the median home costs 4.0 times the median income (5.6 times for Colorado). 72% of occupied homes here are lived in by their owners, and 49% of those owners still have a mortgage.
Phillips County at a glance
| Phillips County | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $258,200 | $539,400 | $332,700 |
| Median property tax paid per year | $1,456 | $2,602 | $3,119 |
| Property tax as a share of value | 0.56% | 0.48% | 0.94% |
| Median household income | $64,674 | $95,470 | $80,734 |
| Homes lived in by their owners | 72% | 66% | 65% |
| Owner homes with a mortgage | 49% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,674 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 24.8% | 22.1% | 21.0% |
| Median rent | $999 | $1,761 | $1,413 |
| Rent as a share of renters' income | 27.4% | 31.4% | 30.6% |
| Median year homes were built | 1970 | 1988 | 1980 |
| Vacant homes | 9.8% | 8.3% | 10.1% |
| Population | 4,496 | 5,862,189 | 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 $258,200 with 20% down costs about $1,618 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,048, 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 $69,327 for the 20%-down payment. That payment is 30% of the median Phillips County household income of $64,674; at that income and 20% down, the 28% guideline points to a home of about $241,000.
The median rent here is $999 a month, so owning the median home costs about $619 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $51,640 |
|---|---|
| Loan amount | $206,560 |
| Principal and interest | $1,390 |
| Property taxes (0.56% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $108 |
| PMI | $0 |
| Total per month | $1,618 |
Change the numbers in the calculator
| Down payment | $9,037 |
|---|---|
| Loan amount | $253,523 |
| Principal and interest | $1,705 |
| Property taxes (0.56% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $108 |
| FHA mortgage insurance | $114 |
| Total per month | $2,048 |
Change the numbers in the calculator
Questions about home buying in Phillips County
What is the median home value in Phillips County?
About $258,200 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 $1,456 a year, which is about 0.56% 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 $1,618 a month. Keeping that under 28% of gross income takes about $69,327 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