Expensive
Affordable
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These days, finding an affordable place to live in the Phelps area can be challenging. Home prices in Phelps are now at a median cost of $339,329, higher than the Illinois average of $300,242.
The average cost of rent is $1,153/mo in Phelps, primarily driven by the current value of real estate in the Phelps area. In Phelps, 21.07% of households rent, and 27.38% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Phelps is $9,476 per month. Households that rent pay about 12.17% of their income on rent here. Phelps’s most expensive areas are in the eastern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Columbia, IL: equally priced homes
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Cities with Similar Populations
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