Market Overview
Home Prices in Phillips, NE
The median home value in Phillips, NE is $349,487 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.4% compared to a year ago and up 5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Phillips are priced15% below average.
Over the past five years, Phillips home values have risen by approximately31.1%, reflecting strong long-term appreciation in this market.
Price History
Phillips Home Price Trend
2020
$240,837
$241K
—
2021
$266,480
$266K
+10.6%
2022
$292,791
$293K
+9.9%
2023
$304,448
$304K
+4.0%
2024
$312,828
$313K
+2.8%
2025
$328,320
$328K
+5.0%
2026
$349,487
$349K
+6.4%
City Comparison
Phillips vs. National Median
🏠 Phillips
$349,487
National Median
$410,000
At $349,487, homes in Phillips cost 15% below the national median of $410,000. This makes Phillips a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Phillips?
20% Down Payment
$69,897
on $349,487
Monthly P&I
$1,823/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,315/mo
incl. taxes & insurance
Income Needed
$92,600
gross annual (30% rule)
10% Down Option
$34,949
+ PMI applies
Loan Amount (20% dn)
$279,590
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Phillips, NE?
The median home value in Phillips is $349,487 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.4% year-over-year.
How much have home prices changed in Phillips?
Over the past year, home values in Phillips have increased by 6.4%. Over five years, prices have risen approximately 31.1%.
How much do I need to earn to buy a home in Phillips?
To comfortably afford the median home price of $349,487 with a 20% down payment ($69,897) at today's rates (6.8%), you'd need a gross annual income of approximately $92,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Phillips compare to the national average home price?
The national median home value is approximately $410,000. At $349,487, homes in Phillips are 15% below the national average.