Income needed to buy a home
Phillips County, CO
$83,640
a year in household income to buy the typical Phillips County home with 10% down.
The monthly math
Typical home value$259,301
Down payment (10%)$25,930
Loan$233,371
Principal and interest (7.40%)$1,616/mo
Property tax (0.5% a year)$109/mo
Homeowners insurance (estimate)$130/mo
Mortgage insurance$97/mo
Total monthly cost$1,952/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
A stretch
The typical household here earns $64,674 a year, 77% of what it takes.
In Colorado
Phillips County ranks #15 of 62 for the income a home takes, from least to most.
Easiest to afford in Colorado
| County | Typical home | Income needed |
|---|---|---|
| Bent County | $120,610 | $38,512 |
| Crowley County | $153,730 | $48,599 |
| Otero County | $161,545 | $51,312 |
| Prowers County | $169,373 | $53,659 |
| Kiowa County | $167,048 | $54,629 |
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.