Income needed to buy a home
Phillips County, AR
$16,696
a year in household income to buy the typical Phillips County home with 10% down.
The monthly math
Typical home value$50,311
Down payment (10%)$5,031
Loan$45,280
Principal and interest (7.40%)$314/mo
Property tax (0.76% a year)$32/mo
Homeowners insurance (estimate)$25/mo
Mortgage insurance$19/mo
Total monthly cost$390/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Room to spare
The typical household here earns $40,134 a year, 140% more than it takes.
In Arkansas
Phillips County ranks #1 of 74 for the income a home takes, from least to most.
Easiest to afford in Arkansas
| County | Typical home | Income needed |
|---|---|---|
| Woodruff County | $86,149 | $27,708 |
| Jefferson County | $85,684 | $28,039 |
| St. Francis County | $88,525 | $28,482 |
| Ashley County | $89,495 | $28,935 |
| Monroe County | $94,389 | $29,209 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.