Average Rent in Phelps County, NE↑ Rents rising 5.5% YoY🔻 2nd cheapest in NE

Phelps County, NE has rental prices ranging from $734/month to $1,665/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $782/month — 44% below the national average of $1,400/month. With a median household income of $65,988/year, spending $782/month on a 1-bedroom represents 14% of gross income — within the recommended 30% threshold.

How Phelps County Compares

With an average 2-bedroom rent of $1,014/month, Phelps County ranks #88 most expensive of the 89 cities tracked in Nebraska — more affordable than 63% of all US cities in our data.

The Phelps County Rental Market

The Phelps County, NE area has a population of about 8,983 and 30% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Phelps County, NE have risen by $53/month (5.5%) over the past year, from $961 to $1,014. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Phelps County, NE without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $31,280. The local median household income of $65,988 exceeds that threshold by $34,708, making Phelps County relatively accessible compared to local wages.

Economy & Jobs

Phelps County, NE has an unemployment rate of 2.4%, 1.5 percentage points below the national average of 3.9%. Strong employment conditions typically sustain rental demand, as workers relocate to the area and local residents maintain stable housing.

Is Phelps County, NE Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Phelps County?

Break-even analysis and mortgage estimates based on local market data.

Living in Phelps County

Cost of living, job market, crime rates, and moving cost estimates.