Local costs · Tennessee

What it costs to own a home in Shelby County, Tennessee

The real property-tax rate, risk-adjusted insurance, and honest closing costs for Shelby County — with the all-in monthly cost of the area’s median-priced home and the income it takes to carry it comfortably.

The headline numbers

Property tax rate0.97%of home value per year · above the Tennessee average 0.48% · national 0.92%
US Census, ACS 2024 5-year
Home insurance$1,650/yrrange $1,070–$2,390 at the Tennessee median home value · county risk-adjusted
Closing costs$7,000–$11,000buyer’s estimate on the $332,600 median home
All-in monthly$2,629/momedian home, 20% down, 6.43% 30-yr rate (as of 2026-07-02)
A household income of about $136,347 makes the $332,600 median home here comfortable by our math — housing under about 28% of take-home pay with room left over for everyday spending. How we compute this.

Run these numbers with your income →

The “median home” here is the Tennessee statewide median owner-occupied value ($332,600, US Census ACS 2024 1-year) — no county-level median is available in our data, so it is labeled as a state figure. The all-in monthly uses the real-life basis: loan payment $1,670, property tax $270, insurance $138, maintenance $277 (1%/yr rule of thumb), and utilities $275 (a placeholder, not yet sourced). With 20% down there is no mortgage insurance.

Local risk flags

From the FEMA National Risk Index (December 2025). Covered perils show up as insurance-premium pressure; flood and earthquake are called out because a standard policy excludes them.

Severe tornado risk in this county can push premiums above the state average.

Elevated wind risk here can nudge premiums above the state average.

Notable flood risk — standard policies don't cover flood; check the address's flood zone and consider a separate policy.

Closing costs, in detail

Total transfer/recording tax $1,231: buyer's customary share $1,231, seller's customary share $0. Tennessee recordation transfer tax: $1,231 (buyer-paid).

Transfer & recording tax
On the $332,600 median home, the buyer’s customary share is about $1,231. Only the buyer’s share is counted in the closing-cost estimate above.
Title insurance & settlement
Tennessee uses competitive (filed) rates. Estimated $1,924–$2,603 on this home. Modeled title insurance + settlement (national declining-rate curve, ~0.68% of price at this level). Not a state-promulgated rate.
Lender and origination
$1,330–$2,661. Modeled as 0.5-1.0% of loan amount.
Appraisal, inspection, and reports
$900–$1,800. Flat buyer-paid diligence estimate.
Prepaids and escrow
$1,493–$2,309. Initial escrow deposit for taxes and insurance.

Frequently asked

What is the property tax rate in Shelby County, TN?
The effective property tax rate in Shelby County is 0.97% of home value per year (US Census, ACS 2024 5-year). That is higher than the Tennessee average of 0.48% and higher than the national average of 0.92%.
How much is homeowners insurance in Shelby County?
A typical homeowners policy runs about $1,650 per year (range $1,070–$2,390) at the Tennessee median home value of $332,600. This is a county-adjusted estimate scaled from the NAIC state average; a real quote depends on the home and coverage.
What are typical closing costs on a $332,600 home in Shelby County?
Estimated buyer closing costs run about $6,978–$11,003 on a $332,600 home — lender fees, title and settlement, the buyer's customary share of transfer and recording taxes, and prepaid taxes and insurance.
What income do you need to afford the median home in Shelby County?
A household income of about $136,347 per year makes the $332,600 median home here comfortable by our math — housing under about 28% of take-home pay with room left for everyday spending, assuming 20% down at this week's 6.43% 30-year rate.
What is the all-in monthly cost of the median home in Shelby County?
About $2,629 per month for the $332,600 median home with 20% down at 6.43% — the loan payment, property tax, home insurance, maintenance, and an estimated utilities figure.

Run your own numbers

These figures use the area median and a 20%-down example. Put in your own price, down payment, income, and debts to see whether it’s comfortable for you.

Open the calculator for Shelby County

More counties in Tennessee

Anderson CountyBedford CountyBenton CountyBledsoe CountyBlount CountyBradley CountyCampbell CountyCannon CountyAll 95 counties →

Sources & vintages

  • Property tax: US Census American Community Survey, county effective rate (ACS 2024 5-year).
  • Home insurance: NAIC state average premium (2022 · FEMA NRI December 2025), scaled by FEMA National Risk Index covered-peril risk; range modeled.
  • Median home value: US Census, Tennessee statewide median owner-occupied value (ACS 2024 1-year) — used as a state-level stand-in for a county median.
  • Mortgage rate: Freddie Mac 30-year fixed weekly average via FRED, as of 2026-07-02.
  • Transfer taxes & title: researched state/local schedules; utilities and the household baseline are labeled placeholders.

Estimates, not advice, and not a Loan Estimate. Every number is computed from public data or our own math — see the methodology for how, and where the honest gaps are.