Home Insurance in Phelps County, Nebraska
With a median home value of $194,900, Phelps County is 18% lower than the Nebraska median.
The typical home in Phelps County was built around 1968. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 41% of homes were built before 1960, about 9 points above Nebraska's 32%.
The housing stock in Phelps County is 79% single-family homes, 9% apartments in buildings with 5+ units and 5% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 46% of owner-occupied homes in Phelps County have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 68% of occupied homes in Phelps County are owner-occupied.
Most homes in Phelps County - 56% - are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Per FEMA's National Risk Index, Phelps County's top hazards are hail (Relatively High), strong wind (Relatively Moderate) and winter weather (Relatively Low).
Phelps County had 5 active National Flood Insurance Program policies as of September 2026. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
The statewide average premium for a standard HO-3 homeowners policy in Nebraska is $2,142 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $194,900 |
|---|---|
| Median year built | 1968 |
| Owner-occupied share | 68% |
| Share of owner-occupied homes with a mortgage | 46% |
| Top hazards (FEMA National Risk Index) | Hail (Relatively High), Strong Wind (Relatively Moderate), Winter Weather (Relatively Low) |
| Active NFIP flood policies (county) | 5 |
| Home insurance premium | $2,142 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)