Phillips County

Phillips County sits at a median home price of $125,353 with 1.5% year-over-year appreciation, which is modest but not negligible for a rural Kansas county. The affordability index scores a perfect 100, the highest possible, which tells you entry costs are low relative to income. What's missing from this dataset is a median rent figure and the resulting price-to-rent ratio or cap rate, so the cash-flow score comes in at zero, not because the market produces no rent, but because the model lacks the rental data to calculate it. What that means practically: you're buying into a very affordable market with some appreciation momentum, but you'll need to do your own rent comps before underwriting a cash-flow number. The overall score of 71 and an 82nd national percentile ranking suggest this county competes reasonably well on the metrics that can be measured, with appreciation (65) and affordability (100) carrying the composite.

The profile here fits a specific type of buyer. An appreciation-focused investor will note that $125,353 is a low basis, so even a 1.5% annual gain translates to limited absolute dollar appreciation, roughly $1,900 per year on a typical purchase. That's not the reason to be here. The real case is for a value-add operator or a buyer who can identify rental income directly through local property managers or comparable listings, because the entry price is low enough that even modest rent levels can produce acceptable yields if bought right. At a $25,071 down payment on a 20% down structure and a 6.85% interest rate, your mortgage payment depends entirely on what the rental market will bear, which this dataset doesn't yet answer. The investor who does that rent homework and buys below median has a real opportunity; the investor who underwrites on assumptions alone does not.

No economic anchors or employer data were provided for Phillips County, so drawing conclusions about job base or rental demand drivers from this dataset isn't possible. What the population figure does tell you is that this is a small market: 4,960 residents. That scale matters for underwriting because it narrows your renter pool and limits exit liquidity. Stabilization periods after a vacancy can run longer than in larger markets simply because fewer qualified tenants are actively searching at any given time.

On carry costs, the combined monthly tax and insurance estimate is $208, using a Kansas state-average effective property tax rate of 1.41% and an insurance rate of 0.58%. The tax flag is "normal," meaning 1.41% doesn't represent a penalty or a tailwind, it's mid-range, but it's still $1,767 annually and deserves its own line on your underwrite. Note that this is a state-average estimate per Tax Foundation 2024 data, and your actual rate will depend on the specific county and township assessment, which can differ materially. The $727 annual insurance figure reflects Kansas's elevated wind and hail exposure, standard for the region, and should be verified with a carrier before closing.

The concentration risk here is structural. A county of under 5,000 people with no named economic anchors in the dataset is not a market that absorbs vacancies quickly. Regulatory risk is not flagged by the data, and no demographic trend data was provided. What you can infer is that rural northwest Kansas counties often face long-run population headwinds, and a 1.5% home price gain does not by itself indicate population growth or rental demand growth.

Compared to the neighboring counties in this dataset, Phillips presents the most affordable entry point alongside Barton County ($119,265) and Cowley County ($120,283). Of those neighbors with rent data, Barton County shows a gross rent-to-price ratio of 8.3% and Geary County shows 7.1%, both of which are meaningfully better yield signals than most metros. Phillips may produce similar ratios if rents track with the regional rural Kansas pattern, but that's an inference, not a data point. If you want verified cash-flow signal before committing capital, Barton County's 8.3% gross ratio and $119,265 median price give you a measurable target. Ellis County ($241,353) and Pottawatomie County ($311,680) both carry substantially higher entry prices at similar overall scores of 71 and 72, making them less compelling on a capital-efficiency basis. Choose Phillips over those neighbors if your strategy is lowest-basis entry and you can validate local rents independently. Choose Barton if you want the same price tier with a confirmed gross yield already in the dataset.