Total monthly cost of ownership
Cost to Own a Home in Shelby, Mississippi
A $82,000 home here costs
$801per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $422. The real number is $379 higher every month — 90% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Shelby against Bolivar County and Mississippi
| Measure | Shelby | Bolivar County |
|---|---|---|
| Median home value | $82,400 | $123,600 |
| Median property tax | $282 | $961 |
| Effective tax rate | 0.342% | 0.778% |
| Median gross rent | $613 | $671 |
| Population | 1,709 | 30,163 |
The weather behind that power bill
Shelby sits in Bolivar County, which averages a high of 93.1°F in its hottest month and a low of 33.2°F in its coldest, with 59.29" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,334 cooling and 2,824 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Bolivar County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bolivar County
Full Bolivar County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Shelby?
A $82,000 home in Shelby, Mississippi costs approximately $801 per month with 20% down at 6.66%. That is $422 principal and interest, $23 property tax, $74 homeowners insurance, $213 utilities and $68 set aside for maintenance.
What is the property tax rate in Shelby?
Shelby has an effective property tax rate of 0.342%, based on a median home value of $82,400 and median real estate taxes of $282. That is lower than the Bolivar County average of 0.778%.
What is the average home price in Shelby?
The median owner-occupied home value in Shelby, Mississippi is $82,400, against $123,600 across Bolivar County.
Is it cheaper to rent or buy in Shelby?
Median gross rent in Shelby is $613 a month, against $801 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Shelby — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Mississippi.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.