Commercial Real Estate Market in Phillips, NE
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
2 active listings and 23 off-market properties in Phillips, NE.
Market Trends
Phillips, NE spans 60.2 square miles in Hamilton County, Nebraska. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Phillips, NE runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Phillips, NE runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Phillips, NE runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Phillips, NE runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 93.3%
- Residential 6.1%
- Industrial 0.5%
- Mixed use 0.2%
Largest Zones share of zoned land by district
Transitional Agriculture District
Medium To High Density Residential District
General Industrial District
Downtown Commercial District
Transitional Agriculture District (TA-1)
The Transitional Agriculture District is established for the purpose of preserving agricultural resources that are compatible with adjacent urban growth
Market overview
Demographics & Economy
Phillips, NE has 960 residents in 485 households. Density runs 16 people per square mile. Median household income here is $107,083 and median gross rent $788 a month.
960
Population
485
Households
2
Avg Household Size
43
Median Age
28%
College-Educated
91%
High-School Grad
60.2 sq mi
ZIP Area
16
Density / Sq Mi
$107,083
Median Household Income
$52,969
Median Earnings
$788
Median Rent
$281,900
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Vieregg | — | — |
| Grand Island | — | $16.00 |
| Milton | — | — |
| Giltner | — | — |
Frequently Asked Questions
Where does Realmo's Phillips market data come from?
Realmo compiles Phillips, NE figures from 2 active sale listings, 23 tracked off-market properties, the current Phillips zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 2 active for-sale and 0 active for-lease listings in Phillips, NE. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 2,626 zoned acres across 4 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
