Market Overview
Home Prices in Phelps, WI
The median home value in Phelps, WI is $341,643 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 9.5% compared to a year ago and up 1.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Phelps are priced17% below average.
Over the past five years, Phelps home values have risen by approximately37.2%, reflecting strong long-term appreciation in this market.
Price History
Phelps Home Price Trend
2020
$216,828
$217K
—
2021
$249,083
$249K
+14.9%
2022
$291,378
$291K
+17.0%
2023
$300,876
$301K
+3.3%
2024
$307,874
$308K
+2.3%
2025
$311,898
$312K
+1.3%
2026
$341,643
$342K
+9.5%
City Comparison
Phelps vs. National Median
🏠 Phelps
$341,643
National Median
$410,000
At $341,643, homes in Phelps cost 17% below the national median of $410,000. This makes Phelps a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Phelps?
20% Down Payment
$68,329
on $341,643
Monthly P&I
$1,782/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,263/mo
incl. taxes & insurance
Income Needed
$90,520
gross annual (30% rule)
10% Down Option
$34,164
+ PMI applies
Loan Amount (20% dn)
$273,314
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 Phelps, WI?
The median home value in Phelps is $341,643 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 9.5% year-over-year.
How much have home prices changed in Phelps?
Over the past year, home values in Phelps have increased by 9.5%. Over five years, prices have risen approximately 37.2%.
How much do I need to earn to buy a home in Phelps?
To comfortably afford the median home price of $341,643 with a 20% down payment ($68,329) at today's rates (6.8%), you'd need a gross annual income of approximately $90,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Phelps compare to the national average home price?
The national median home value is approximately $410,000. At $341,643, homes in Phelps are 17% below the national average.