ZIP Code Market Report
54554 — Phelps, WI
Data through February 2026 · Updated monthly
Avg Home Value
$321,974
▲ 6.2% year-over-year
Month-over-Month
+0.3%
▲ 0.3%
Single Family
$330,936
Condo / Co-op
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The average home value in the 54554 ZIP code (Phelps, WISCONSIN) is $321,974 as of February 2026. Home prices are rising, up 6.2% compared to last year.
The market in 54554 has a $348,755 spread between bottom-tier homes at $183,110 and top-tier homes at $531,864. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
This report is part of the Vilas County market area in WISCONSIN. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Vilas County report.
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Market Snapshot
54554 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $320,994 | $321,033 | $321,974 | ▲ 0.3% |
| Single Family Value | $322,727 | $327,113 | $330,936 | ▲ 2.5% |
Home Values
54554 Home Value Trend
Historical home values for ZIP code 54554. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
Property Types
Home Values by Property Type in 54554
How different property types compare in this ZIP code.
All Homes
$321,974
Single Family
$330,936
Bottom Tier
$183,110
Top Tier
$531,864
Data Sources and Methodology
Home value data for ZIP code 54554 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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