This was 4.2 percent lower than the state average of 46.3 percent. In 2020 the total municipality population reached 2,175.
88.3 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Phelps for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 162 | 11.7 |
| Regular high school diploma | 304 | 21.9 |
| GED or alternative credential | 49 | 3.5 |
| Some college, less than 1 year | 155 | 11.2 |
| Some college, 1 or more years, no degree | 133 | 9.6 |
| Associate's degree | 239 | 17.2 |
| Bachelor's degree | 166 | 12 |
| Master's degree | 129 | 9.3 |
| Professional school degree | 38 | 2.7 |
| Doctorate degree | 12 | 0.9 |
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