The story of this market
The typical home in ZIP 68940 sells for about $285,000, or $142 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $950 a month.
ZIP 68940 — Funk
The housing market in 68940 is characterized by extremely low inventory and minimal sales volume, typical of a rural agricultural ZIP code. Prices have seen steady appreciation over the last decade, though the market remains quiet with very few active listings. No specific development or infrastructure projects are currently impacting the local residential market.
This ZIP is primarily suited for rural residents and those seeking a quiet, low-density lifestyle in the Nebraska plains.
Median prices moved up 3.2% year over year.
Homes spend a median of 68 days on market with 5.4 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.0% · poverty 3.3% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 68940, Phelps County NE
The local economy is primarily driven by agriculture and small-scale rural commerce within Phelps County.
Data retrieved from Census Bureau ZCTA-level tables.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.