Income needed to buy a home
Phelps County, MO
$76,898
a year in household income to buy the typical Phelps County home with 10% down.
The monthly math
Typical home value$235,144
Down payment (10%)$23,514
Loan$211,630
Principal and interest (7.40%)$1,465/mo
Property tax (0.63% a year)$123/mo
Homeowners insurance (estimate)$118/mo
Mortgage insurance$88/mo
Total monthly cost$1,794/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 $58,396 a year, 76% of what it takes.
In Missouri
Phelps County ranks #70 of 113 for the income a home takes, from least to most.
Easiest to afford in Missouri
| County | Typical home | Income needed |
|---|---|---|
| Pemiscot County | $87,653 | $29,153 |
| Dunklin County | $95,790 | $31,620 |
| New Madrid County | $102,484 | $33,654 |
| Sullivan County | $106,842 | $34,688 |
| Mississippi County | $104,899 | $34,844 |
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.