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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Shelbyville, KY Housing Affordability Index

Shelbyville, Kentucky has an MBR Housing Affordability Index score of 113.3 (More Affordable Than Average) as of October 30, 2026, ranking 345th most affordable of 431 scored Kentucky cities, compared with 120.8 statewide and 97.4 nationally. On a median-priced $257,100 home with 20% down, the Kentucky average 30-year fixed rate of 7.27% means a monthly principal and interest payment of about $1,406, or 22% of the city’s $75,610 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Shelbyville is updated every night from live Kentucky mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Shelbyville MBR-HAI 113.3 More Affordable Than Average
Rank in Kentucky 345 of 431 1 = most affordable
Kentucky 120.8 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.27% Kentucky lenders
Median home value $257,100 U.S. Census Bureau

Shelbyville is 7.5 points below the Kentucky score. Scores as of October 30, 2026. See the Kentucky index

View Shelbyville Mortgage Rates

See What You Can Afford in Shelbyville, Kentucky

Use this Shelbyville, Kentucky home affordability calculator to see how much house you can afford at today’s Kentucky average 30-year mortgage rate of 7.27%. A household earning the Shelbyville median income of $75,610, with no other debts and $51,000 down, can afford a home of about $251,535, compared with a median home value of $257,100. Buying the median priced home with 20% down takes a household income of about $73,800 once property tax and insurance are counted.

Shelbyville median (Census)
Car, student loan, card minimums
Under 20% adds PMI
Kentucky average, 30-year fixed
Shelbyville median bill (Census)
Estimate; use your quote
You can afford a home up to
$251,535
Below the Shelbyville median home value of $257,100
Loan amount$200,535
Principal & interest$1,370/mo
Property tax$205/mo
Home insurance$105/mo
PMI$0/mo
Total monthly payment$1,681/mo
Compare Shelbyville Mortgage Rates

How much house can you afford in Shelbyville?

Most lenders use two limits. Your housing payment, including principal, interest, property tax, homeowners insurance and any PMI, should stay under about 28% of your gross monthly income, and all of your monthly debt payments together should stay under about 36%. The calculator takes whichever limit is lower, then works backward from that payment to the most expensive home it covers at the current rate.

In Shelbyville, property taxes run about 0.98% of a home’s value each year, based on the Census median tax bill, which counts against the same monthly budget as the mortgage. Each quarter point move in mortgage rates changes the price you can afford by roughly $3,951 for a median income household. A larger down payment, paying down other debts, or a lower rate from a local lender all raise your budget.

What It Takes to Buy in Shelbyville

$1,406/mo
Principal & Interest
Median home, 20% down, 7.27%
$60,200
Income Needed
To keep principal and interest at 28% of income
$75,610
Median Household Income
Kentucky: $63,726
3.4x
Price-to-Income Ratio
Kentucky: 3.2x
$1,315/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$2,512/yr
Median Property Tax
0.98% of median value
14.3%
Owner Cost Burden
Owners spending 30%+ of income on housing
36.5%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Shelbyville, Kentucky. The rate is the Kentucky average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Shelbyville Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Shelbyville, Kentucky score: 113.3 (More Affordable Than Average), ranked 345 of 431 Kentucky cities. monitorbankrates.com/housing-affordability-index/kentucky/shelbyville”