The typical owner-occupied home in Shellman is worth about $96,100, 68% below the Georgia median of $303,300 and 71% below the national median of $332,700. Owners pay a median $1,134 a year in property taxes, about 1.18% of their home's value, higher than the Georgia rate of 0.77%. The median household earns $28,859 a year, so the median home costs 3.3 times the median income (3.9 times for Georgia). 52% of occupied homes here are lived in by their owners, and 33% of those owners still have a mortgage.
Shellman at a glance
| Shellman | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $96,100 | $303,300 | $332,700 |
| Median property tax paid per year | $1,134 | $2,341 | $3,119 |
| Property tax as a share of value | 1.18% | 0.77% | 0.94% |
| Median household income | $28,859 | $77,353 | $80,734 |
| Homes lived in by their owners | 52% | 66% | 65% |
| Owner homes with a mortgage | 33% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,031 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 26.9% | 20.0% | 21.0% |
| Median rent | $818 | $1,393 | $1,413 |
| Rent as a share of renters' income | 33.0% | 31.3% | 30.6% |
| Median year homes were built | 1976 | 1992 | 1980 |
| Vacant homes | 23.2% | 10.3% | 10.1% |
| Population | 974 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Shellman
At this week's average 30-year rate of 7.11%, buying the median Shellman home of $96,100 with 20% down costs about $652 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $812, 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 $27,931 for the 20%-down payment. That payment is 27% of the median Shellman household income of $28,859; at that income and 20% down, the 28% guideline points to a home of about $99,000.
The median rent here is $818 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $19,220 |
|---|---|
| Loan amount | $76,880 |
| Principal and interest | $517 |
| Property taxes (1.18% a year) | $94 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $652 |
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| Down payment | $3,364 |
|---|---|
| Loan amount | $94,359 |
| Principal and interest | $635 |
| Property taxes (1.18% a year) | $94 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $42 |
| Total per month | $812 |
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Questions about home buying in Shellman
What is the median home value in Shellman?
About $96,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Shellman?
Homeowners pay a median $1,134 a year, which is about 1.18% 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 Shellman?
For the median home with 20% down at 7.11%, the payment is about $652 a month. Keeping that under 28% of gross income takes about $27,931 a year.
More about Shellman
- Mortgage Refinance in Shellman
- Debt Relief in Shellman
- Home Equity Loans in Shellman
- 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