The typical owner-occupied home in Shelby County is worth about $212,400, 3% below the Indiana median of $218,200 and 36% below the national median of $332,700. Owners pay a median $1,412 a year in property taxes, about 0.66% of their home's value, lower than the Indiana rate of 0.74%. The median household earns $72,190 a year, so the median home costs 2.9 times the median income (3.0 times for Indiana). 72% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Shelby County at a glance
| Shelby County | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $212,400 | $218,200 | $332,700 |
| Median property tax paid per year | $1,412 | $1,614 | $3,119 |
| Property tax as a share of value | 0.66% | 0.74% | 0.94% |
| Median household income | $72,190 | $71,957 | $80,734 |
| Homes lived in by their owners | 72% | 71% | 65% |
| Owner homes with a mortgage | 63% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,403 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 18.5% | 18.1% | 21.0% |
| Median rent | $987 | $1,062 | $1,413 |
| Rent as a share of renters' income | 24.5% | 29.1% | 30.6% |
| Median year homes were built | 1972 | 1976 | 1980 |
| Vacant homes | 6.2% | 8.8% | 10.1% |
| Population | 45,265 | 6,851,073 | 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 $212,400 with 20% down costs about $1,348 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,702, 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 $57,788 for the 20%-down payment. That payment is 22% of the median Shelby County household income of $72,190; at that income and 20% down, the 28% guideline points to a home of about $265,000.
The median rent here is $987 a month, so owning the median home costs about $361 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $42,480 |
|---|---|
| Loan amount | $169,920 |
| Principal and interest | $1,143 |
| Property taxes (0.66% a year) | $117 |
| Homeowners insurance (our estimate, 0.5% a year) | $88 |
| PMI | $0 |
| Total per month | $1,348 |
Change the numbers in the calculator
| Down payment | $7,434 |
|---|---|
| Loan amount | $208,553 |
| Principal and interest | $1,403 |
| Property taxes (0.66% a year) | $117 |
| Homeowners insurance (our estimate, 0.5% a year) | $88 |
| FHA mortgage insurance | $94 |
| Total per month | $1,702 |
Change the numbers in the calculator
Questions about home buying in Shelby County
What is the median home value in Shelby County?
About $212,400 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 $1,412 a year, which is about 0.66% 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 $1,348 a month. Keeping that under 28% of gross income takes about $57,788 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