Shelby County, Tennessee home prices
Typical home $215,732 · -1.2% in a year · property tax 0.98%
The typical home in Shelby County is worth $215,732, 35% less than the Tennessee typical home ($330,844). Values changed -1.2% in the past year and +11.6% over five years. Homeowners here pay a median 0.98% of their home's value in property tax each year ($2,104 on the typical home), versus 0.46% statewide.
Mortgage on the typical Shelby County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $43,146 | $172,586 | $1,161 | $0 | $283 | $1,444 | $61,900 |
| 10% down | $21,573 | $194,159 | $1,306 | $81 | $283 | $1,670 | $71,600 |
| 5% down | $10,787 | $204,945 | $1,379 | $85 | $283 | $1,747 | $74,900 |
| 3.5% down (FHA) | $7,551 | $211,824 | $1,425 | $95 | $283 | $1,804 | $77,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.98% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Tennessee · part of the Memphis metro area.
Tennessee counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Henderson County | $213,136 | +7.2% | 0.48% |
| Morgan County | $210,307 | +4.4% | 0.52% |
| Henry County | $221,770 | +6.7% | 0.44% |
| Clay County | $209,475 | +5.6% | 0.56% |
| Madison County | $222,721 | -1.1% | 0.56% |
| Claiborne County | $223,829 | +3.7% | 0.49% |
| Hardin County | $207,630 | +2.4% | 0.41% |
| Grundy County | $206,810 | +3.1% | 0.38% |
| Jackson County | $225,655 | +3.2% | 0.46% |
| Van Buren County | $228,836 | +1.0% | 0.44% |
Frequently asked questions
What is the average home price in Shelby County, TN?
The typical home value in Shelby County is $215,732 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Shelby County?
About $61,900 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Shelby County?
The median effective rate is 0.98% of home value a year (Census ACS 2024 5-year estimates).