Total monthly cost of ownership
Cost to Own a Home in Shelbyville, Kentucky
A $239,000 home here costs
$1,953per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,229. The real number is $724 higher every month — 59% 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 Kentucky
| Measure | Shelbyville | Shelby County |
|---|---|---|
| Median home value | $238,600 | $277,500 |
| Median property tax | $2,355 | $2,248 |
| Effective tax rate | 0.987% | 0.810% |
| Median gross rent | $979 | $998 |
| Population | 17,436 | 48,599 |
The weather behind that power bill
Shelbyville sits in Shelby County, which averages a high of 87.6°F in its hottest month and a low of 20.3°F in its coldest, with 49.82" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 976 cooling and 5,147 heating degree days, which is what sets the $135 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
Full Shelby County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Shelbyville?
A $239,000 home in Shelbyville, Kentucky costs approximately $1,953 per month with 20% down at 6.66%. That is $1,229 principal and interest, $197 property tax, $126 homeowners insurance, $203 utilities and $199 set aside for maintenance.
What is the property tax rate in Shelbyville?
Shelbyville has an effective property tax rate of 0.987%, based on a median home value of $238,600 and median real estate taxes of $2,355. That is higher than the Shelby County average of 0.810%.
What is the average home price in Shelbyville?
The median owner-occupied home value in Shelbyville, Kentucky is $238,600, against $277,500 across Shelby County.
Is it cheaper to rent or buy in Shelbyville?
Median gross rent in Shelbyville is $979 a month, against $1,953 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 Kentucky.
- 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.