Total monthly cost of ownership
Cost to Own a Home in Shelbyville, Illinois
A $111,000 home here costs
$1,142per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $571. The real number is $572 higher every month — 100% 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.
Shelbyville against Shelby County and Illinois
| Measure | Shelbyville | Shelby County |
|---|---|---|
| Median home value | $111,200 | $130,400 |
| Median property tax | $1,841 | $1,955 |
| Effective tax rate | 1.656% | 1.499% |
| Median gross rent | $724 | $762 |
| Population | 4,248 | 20,867 |
The weather behind that power bill
Shelbyville sits in Shelby County, which averages a high of 86.0°F in its hottest month and a low of 19.2°F in its coldest, with 41.44" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 1,186 cooling and 5,321 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Shelby County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Shelby County
No other places of this size are published in Shelby County.
Full Shelby County cost breakdown · Every county in Illinois
Common questions
How much does it cost to own a home in Shelbyville?
A $111,000 home in Shelbyville, Illinois costs approximately $1,142 per month with 20% down at 6.66%. That is $571 principal and interest, $153 property tax, $43 homeowners insurance, $282 utilities and $93 set aside for maintenance.
What is the property tax rate in Shelbyville?
Shelbyville has an effective property tax rate of 1.656%, based on a median home value of $111,200 and median real estate taxes of $1,841. That is higher than the Shelby County average of 1.499%.
What is the average home price in Shelbyville?
The median owner-occupied home value in Shelbyville, Illinois is $111,200, against $130,400 across Shelby County.
Is it cheaper to rent or buy in Shelbyville?
Median gross rent in Shelbyville is $724 a month, against $1,142 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 Shelbyville — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Illinois.
- 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.