The typical owner-occupied home in Shannon is worth about $221,000, 27% below the Georgia median of $303,300 and 34% below the national median of $332,700. Owners pay a median $1,870 a year in property taxes, about 0.85% of their home's value, higher than the Georgia rate of 0.77%. The median household earns $80,722 a year, so the median home costs 2.7 times the median income (3.9 times for Georgia). 52% of occupied homes here are lived in by their owners, and 77% of those owners still have a mortgage.
Shannon at a glance
| Shannon | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $221,000 | $303,300 | $332,700 |
| Median property tax paid per year | $1,870 | $2,341 | $3,119 |
| Property tax as a share of value | 0.85% | 0.77% | 0.94% |
| Median household income | $80,722 | $77,353 | $80,734 |
| Homes lived in by their owners | 52% | 66% | 65% |
| Owner homes with a mortgage | 77% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,752 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 20.0% | 21.0% |
| Median rent | $1,090 | $1,393 | $1,413 |
| Rent as a share of renters' income | 17.4% | 31.3% | 30.6% |
| Median year homes were built | 1955 | 1992 | 1980 |
| Vacant homes | 12.3% | 10.3% | 10.1% |
| Population | 2,012 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Shannon
At this week's average 30-year rate of 7.11%, buying the median Shannon home of $221,000 with 20% down costs about $1,438 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,806, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $61,627 for the 20%-down payment. That payment is 21% of the median Shannon household income of $80,722; at that income and 20% down, the 28% guideline points to a home of about $289,000.
The median rent here is $1,090 a month, so owning the median home costs about $348 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $44,200 |
|---|---|
| Loan amount | $176,800 |
| Principal and interest | $1,189 |
| Property taxes (0.85% a year) | $157 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| PMI | $0 |
| Total per month | $1,438 |
Change the numbers in the calculator
| Down payment | $7,735 |
|---|---|
| Loan amount | $216,997 |
| Principal and interest | $1,460 |
| Property taxes (0.85% a year) | $157 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| FHA mortgage insurance | $98 |
| Total per month | $1,806 |
Change the numbers in the calculator
Questions about home buying in Shannon
What is the median home value in Shannon?
About $221,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Shannon?
Homeowners pay a median $1,870 a year, which is about 0.85% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Shannon?
For the median home with 20% down at 7.11%, the payment is about $1,438 a month. Keeping that under 28% of gross income takes about $61,627 a year.
More about Shannon
- Mortgage Refinance in Shannon
- Debt Relief in Shannon
- Home Equity Loans in Shannon
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data