Mortgage Rates in Shelbyville, Tennessee — March 2026
Updated March 2026 | Based on Shelbyville market data and regional lending conditions
Shelbyville is a growing city in Tennessee with a population of 22,800. The current 30-year fixed mortgage rate in Shelbyville is 6.78%, which is 0.13% above the national average. With a median home price of $268,000 and a 20% down payment of $53,600, homebuyers can expect a monthly principal and interest payment of approximately $1,395.
Current Mortgage Rates in Shelbyville, TN
Below are the current average mortgage rates available in the Shelbyville area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.78% | 6.65% | +0.13% |
| 15-Year Fixed | 6.01% | 5.89% | +0.12% |
| 5/1 ARM | 6.27% | 6.15% | +0.12% |
| FHA | 6.51% | 6.25% | +0.26% |
| VA | 6.26% | 6.05% | +0.21% |
| Jumbo | 7.03% | 6.85% | +0.18% |
Shelbyville Housing Market Overview
The Shelbyville housing market offers relatively affordable housing compared to many major cities. The median household income in Shelbyville is $54,700, and the cost of living index is 84.7 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $66,471 to comfortably afford the median-priced home in Shelbyville, which exceeds the current median household income.
Monthly Payment Breakdown for Shelbyville
Based on the median home price of $268,000 with 20% down ($53,600), here is what you can expect to pay monthly in Shelbyville:
15-Year vs. 30-Year Mortgage in Shelbyville
Choosing a 15-year mortgage in Shelbyville at 6.01% instead of a 30-year at 6.78% would save you $176,400 in total interest over the life of the loan. However, your monthly payment would be $1,810 instead of $1,395 — an increase of $415 per month.
Calculate Your Shelbyville Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Shelbyville
What are the current mortgage rates in Shelbyville, TN?
As of March 2026, the average 30-year fixed mortgage rate in Shelbyville, Tennessee is 6.78%, while the 15-year fixed rate is 6.01%. FHA loans average 6.51% and VA loans 6.26%. These rates are 0.13% above the national average of 6.65%.
How much is a monthly mortgage payment in Shelbyville?
Based on the median home price of $268,000 with 20% down, the estimated monthly mortgage payment in Shelbyville is $1,395 for principal and interest. Including property taxes of $156/month, the total monthly housing cost is approximately $1,551.
What income do I need to buy a home in Shelbyville?
Using the 28% rule, you would need an annual income of approximately $66,471 to afford the median-priced home in Shelbyville at $268,000. The median household income in Shelbyville is $54,700. This means most households would need to either earn above the median or consider homes below $268,000.
Is Shelbyville a good place to buy a home in 2026?
Shelbyville offers a below-average cost of living with a cost of living index of 84.7 (national average = 100). The property tax rate in Tennessee is 0.7%, which is below the national average. Shelbyville has a population of 22,800 and offers a very affordable lifestyle.
Mortgage Rates in Other Tennessee Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Shelbyville, Tennessee area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.