The typical owner-occupied home in Phippsburg is worth about $515,600, 4% below the Colorado median of $539,400 and 55% above the national median of $332,700. The median household earns $87,232 a year, so the median home costs 5.9 times the median income (5.6 times for Colorado). 65% of occupied homes here are lived in by their owners, and 69% of those owners still have a mortgage.
Phippsburg at a glance
| Phippsburg | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $515,600 | $539,400 | $332,700 |
| Median property tax paid per year | – | $2,602 | $3,119 |
| Median household income | $87,232 | $95,470 | $80,734 |
| Homes lived in by their owners | 65% | 66% | 65% |
| Owner homes with a mortgage | 69% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $2,514 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 17.7% | 22.1% | 21.0% |
| Median rent | – | $1,761 | $1,413 |
| Median year homes were built | 1938 | 1988 | 1980 |
| Vacant homes | 0.0% | 8.3% | 10.1% |
| Population | 390 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Phippsburg
At this week's average 30-year rate of 7.11%, buying the median Phippsburg home of $515,600 with 20% down costs about $3,462 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,321, 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 $148,382 for the 20%-down payment. That payment is 48% of the median Phippsburg household income of $87,232; at that income and 20% down, the 28% guideline points to a home of about $303,000.
| Down payment | $103,120 |
|---|---|
| Loan amount | $412,480 |
| Principal and interest | $2,775 |
| Property taxes (1.10% a year) | $473 |
| Homeowners insurance (our estimate, 0.5% a year) | $215 |
| PMI | $0 |
| Total per month | $3,462 |
Change the numbers in the calculator
| Down payment | $18,046 |
|---|---|
| Loan amount | $506,261 |
| Principal and interest | $3,406 |
| Property taxes (1.10% a year) | $473 |
| Homeowners insurance (our estimate, 0.5% a year) | $215 |
| FHA mortgage insurance | $228 |
| Total per month | $4,321 |
Change the numbers in the calculator
Questions about home buying in Phippsburg
What is the median home value in Phippsburg?
About $515,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Phippsburg?
For the median home with 20% down at 7.11%, the payment is about $3,462 a month. Keeping that under 28% of gross income takes about $148,382 a year.
More about Phippsburg
- Mortgage Refinance in Phippsburg
- Debt Relief in Phippsburg
- Home Equity Loans in Phippsburg
- 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