Income needed to buy a home
Shelby County, IA
$75,003
a year in household income to buy the typical Shelby County home with 10% down.
The monthly math
Typical home value$216,042
Down payment (10%)$21,604
Loan$194,438
Principal and interest (7.40%)$1,346/mo
Property tax (1.19% a year)$215/mo
Homeowners insurance (estimate)$108/mo
Mortgage insurance$81/mo
Total monthly cost$1,750/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Right at the edge
The typical household here earns $72,738 a year, 97% of what it takes.
In Iowa
Shelby County ranks #63 of 99 for the income a home takes, from least to most.
Easiest to afford in Iowa
| County | Typical home | Income needed |
|---|---|---|
| Pocahontas County | $101,899 | $34,888 |
| Appanoose County | $118,881 | $41,110 |
| Lee County | $125,776 | $44,079 |
| Wapello County | $131,712 | $46,563 |
| Wright County | $136,258 | $47,713 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.