Income needed to buy a home
Shelby County, TN
$74,380
a year in household income to buy the typical Shelby County home with 10% down.
The monthly math
Typical home value$219,232
Down payment (10%)$21,923
Loan$197,309
Principal and interest (7.40%)$1,366/mo
Property tax (0.97% a year)$178/mo
Homeowners insurance (estimate)$110/mo
Mortgage insurance$82/mo
Total monthly cost$1,736/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
A stretch
The typical household here earns $63,767 a year, 86% of what it takes.
In Tennessee
Shelby County ranks #29 of 95 for the income a home takes, from least to most.
Easiest to afford in Tennessee
| County | Typical home | Income needed |
|---|---|---|
| Lake County | $114,150 | $37,705 |
| Lauderdale County | $141,988 | $46,642 |
| Hardeman County | $163,972 | $53,330 |
| Chester County | $168,713 | $54,432 |
| Obion County | $169,585 | $54,635 |
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.