Total monthly cost of ownership
Cost to Own a Home in Shelbyville, Tennessee
A $225,000 home here costs
$1,748per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,157. The real number is $591 higher every month — 51% 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 Bedford County and Tennessee
| Measure | Shelbyville | Bedford County |
|---|---|---|
| Median home value | $224,700 | $255,300 |
| Median property tax | $1,329 | $1,274 |
| Effective tax rate | 0.591% | 0.499% |
| Median gross rent | $935 | $917 |
| Population | 24,125 | 51,291 |
The weather behind that power bill
Shelbyville sits in Bedford County, which averages a high of 89.4°F in its hottest month and a low of 28.9°F in its coldest, with 59.36" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,602 cooling and 3,523 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Bedford County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bedford County
Full Bedford County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in Shelbyville?
A $225,000 home in Shelbyville, Tennessee costs approximately $1,748 per month with 20% down at 6.66%. That is $1,157 principal and interest, $111 property tax, $95 homeowners insurance, $198 utilities and $188 set aside for maintenance.
What is the property tax rate in Shelbyville?
Shelbyville has an effective property tax rate of 0.591%, based on a median home value of $224,700 and median real estate taxes of $1,329. That is higher than the Bedford County average of 0.499%.
What is the average home price in Shelbyville?
The median owner-occupied home value in Shelbyville, Tennessee is $224,700, against $255,300 across Bedford County.
Is it cheaper to rent or buy in Shelbyville?
Median gross rent in Shelbyville is $935 a month, against $1,748 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 Tennessee.
- 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.