The typical owner-occupied home in Shell Rock is worth about $163,100, 22% below the Iowa median of $208,000 and 51% below the national median of $332,700. Owners pay a median $2,626 a year in property taxes, about 1.61% of their home's value, higher than the Iowa rate of 1.39%. The median household earns $78,657 a year, so the median home costs 2.1 times the median income (2.8 times for Iowa). 85% of occupied homes here are lived in by their owners, and 73% of those owners still have a mortgage.
Shell Rock at a glance
| Shell Rock | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $163,100 | $208,000 | $332,700 |
| Median property tax paid per year | $2,626 | $2,897 | $3,119 |
| Property tax as a share of value | 1.61% | 1.39% | 0.94% |
| Median household income | $78,657 | $75,059 | $80,734 |
| Homes lived in by their owners | 85% | 72% | 65% |
| Owner homes with a mortgage | 73% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,269 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 18.1% | 18.7% | 21.0% |
| Median rent | $931 | $972 | $1,413 |
| Rent as a share of renters' income | 21.7% | 27.4% | 30.6% |
| Median year homes were built | 1957 | 1972 | 1980 |
| Vacant homes | 10.4% | 8.5% | 10.1% |
| Population | 1,625 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Shell Rock
At this week's average 30-year rate of 7.11%, buying the median Shell Rock home of $163,100 with 20% down costs about $1,165 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,436, 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 $49,908 for the 20%-down payment. That payment is 18% of the median Shell Rock household income of $78,657; at that income and 20% down, the 28% guideline points to a home of about $257,000.
The median rent here is $931 a month, so owning the median home costs about $234 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $32,620 |
|---|---|
| Loan amount | $130,480 |
| Principal and interest | $878 |
| Property taxes (1.61% a year) | $219 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| PMI | $0 |
| Total per month | $1,165 |
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| Down payment | $5,708 |
|---|---|
| Loan amount | $160,146 |
| Principal and interest | $1,077 |
| Property taxes (1.61% a year) | $219 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| FHA mortgage insurance | $72 |
| Total per month | $1,436 |
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Questions about home buying in Shell Rock
What is the median home value in Shell Rock?
About $163,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Shell Rock?
Homeowners pay a median $2,626 a year, which is about 1.61% 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 Shell Rock?
For the median home with 20% down at 7.11%, the payment is about $1,165 a month. Keeping that under 28% of gross income takes about $49,908 a year.
More about Shell Rock
- Mortgage Refinance in Shell Rock
- Debt Relief in Shell Rock
- Home Equity Loans in Shell Rock
- 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