The typical owner-occupied home in Shelby County is worth about $137,100, 48% below the Illinois median of $263,300 and 59% below the national median of $332,700. Owners pay a median $2,063 a year in property taxes, about 1.50% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $72,095 a year, so the median home costs 1.9 times the median income (3.2 times for Illinois). 78% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Shelby County at a glance
| Shelby County | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $137,100 | $263,300 | $332,700 |
| Median property tax paid per year | $2,063 | $5,298 | $3,119 |
| Property tax as a share of value | 1.50% | 2.01% | 0.94% |
| Median household income | $72,095 | $83,390 | $80,734 |
| Homes lived in by their owners | 78% | 67% | 65% |
| Owner homes with a mortgage | 47% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,226 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 17.7% | 20.6% | 21.0% |
| Median rent | $814 | $1,274 | $1,413 |
| Rent as a share of renters' income | 22.3% | 29.1% | 30.6% |
| Median year homes were built | 1966 | 1971 | 1980 |
| Vacant homes | 11.4% | 7.7% | 10.1% |
| Population | 20,720 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Shelby County
At this week's average 30-year rate of 7.11%, buying the median Shelby County home of $137,100 with 20% down costs about $966 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,195, 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 $41,414 for the 20%-down payment. That payment is 16% of the median Shelby County household income of $72,095; at that income and 20% down, the 28% guideline points to a home of about $239,000.
The median rent here is $814 a month, so owning the median home costs about $152 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $27,420 |
|---|---|
| Loan amount | $109,680 |
| Principal and interest | $738 |
| Property taxes (1.50% a year) | $171 |
| Homeowners insurance (our estimate, 0.5% a year) | $57 |
| PMI | $0 |
| Total per month | $966 |
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| Down payment | $4,798 |
|---|---|
| Loan amount | $134,617 |
| Principal and interest | $906 |
| Property taxes (1.50% a year) | $171 |
| Homeowners insurance (our estimate, 0.5% a year) | $57 |
| FHA mortgage insurance | $61 |
| Total per month | $1,195 |
Change the numbers in the calculator
Questions about home buying in Shelby County
What is the median home value in Shelby County?
About $137,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Shelby County?
Homeowners pay a median $2,063 a year, which is about 1.50% 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 Shelby County?
For the median home with 20% down at 7.11%, the payment is about $966 a month. Keeping that under 28% of gross income takes about $41,414 a year.
More about Shelby County
- Mortgage Refinance in Shelby County
- Debt Relief in Shelby County
- Home Equity Loans in Shelby County
- 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