Shelby County, TN Conforming Loan Limit — 2026

At a median of $175,000, Shelby County sits 44% below the national median of $310,000 — making it one of the more affordable markets in our dataset and well within FHA financing range.

A 20% down payment on a median Shelby County home requires $35,000 in cash — or $6,125 for an FHA-minimum 3.5% down payment. Buyers with less than 20% down will also need to budget for PMI or FHA MIP.

Based on the 1.27% effective rate and a median home value of $175,000, a typical homeowner in Shelby County pays approximately $2,223 in annual property taxes — or $185 per month added to their mortgage payment.

Shelby County's property tax rate of 1.27% is close to the national average of 1.10%. On a median-priced home of $175,000, expect an annual tax bill of approximately $2,223.

Sources: Tax Foundation 2025

Homeowners insurance in Shelby County runs approximately $1,600/year ($133/month), in line with the national average of $1,600.

Premium quotes in Shelby County typically range from $1,100 to $2,400 per year depending on home age, construction type, coverage limits, and your insurer. Always get multiple quotes.

Sources: NAIC 2024

A buyer purchasing the median Shelby County home ($175,000) with FHA's minimum 3.5% down would borrow $168,875 — well within the $541,287 baseline FHA limit for this county. FHA financing is a viable option for most buyers here.

With 20% down on a median-priced home, the loan amount of $140,000 stays $692,750 below the $832,750 conforming limit — giving buyers access to conventional Fannie/Freddie pricing without jumbo underwriting.

Sources: HUD ML 2025-23, FHFA 2026