Total monthly cost of ownership
Cost to Own a Home in Shippensburg, Pennsylvania
A $163,000 home here costs
$1,519per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $65,000 a year.
A standard mortgage calculator would have told you $889. The real number is $630 higher every month, 71% more than the payment most buyers budget for.
Compare Cumberland County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Shippensburg against Cumberland County and Pennsylvania
| Measure | Shippensburg | Cumberland County |
|---|---|---|
| Median home value | $163,200 | $261,900 |
| Median property tax | $2,330 | $3,180 |
| Effective tax rate | 1.428% | 1.214% |
| Median gross rent | $898 | $1,184 |
| Population | 5,811 | 264,422 |
Shippensburg extends across 2 counties. Figures here use Cumberland County, where most of its housing sits.
The weather behind that power bill
Shippensburg sits in Cumberland County, which averages a high of 85.5°F in its hottest month and a low of 20.5°F in its coldest, with 48.03" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 826 cooling and 5,559 heating degree days, which is what sets the $178 electricity line above.
See the full climate breakdown for Cumberland County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cumberland County
Full Cumberland County cost breakdown · Every county in Pennsylvania
Talk to someone who works this market
These are Shippensburg averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Shippensburg every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Shippensburg I already own here and may sell
Common questions
How much does it cost to own a home in Shippensburg?
A $163,000 home in Shippensburg, Pennsylvania costs approximately $1,519 per month with 20% down at 7.24%. That is $889 principal and interest, $194 property tax, $54 homeowners insurance, $246 utilities and $136 set aside for maintenance.
What is the property tax rate in Shippensburg?
Shippensburg has an effective property tax rate of 1.428%, based on a median home value of $163,200 and median real estate taxes of $2,330. That is higher than the Cumberland County average of 1.214%.
What is the average home price in Shippensburg?
The median owner-occupied home value in Shippensburg, Pennsylvania is $163,200, against $261,900 across Cumberland County.
Is it cheaper to rent or buy in Shippensburg?
Median gross rent in Shippensburg is $898 a month, against $1,519 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Shippensburg?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Shippensburg, Pennsylvania at today's rate takes a household income of roughly $65,000 a year. That covers the full $1,519 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Shippensburg, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Pennsylvania.
- 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.