Quick facts: Shelbyville, TN

Quick Facts

99.5
Cost of Living
below US average
24,452
Population
25.36
Crime Rate per 1000
above US average
$50,694
Median Income
below US average
$334,900
Median House Price
above US average
$1547.44
Average Rent
above US average
15%
Poverty Rate
above US average
3.1%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $50,694.

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Income Needed to Buy

βœ— Stretch
$105k/year
Based on $334,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $105k vs median $50,694
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Income Needed to Rent

⚠ Stretch
$66k/year
Based on $1547.44/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $66k vs median $50,694
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Shelbyville, TN

Shelbyville, Tennessee, often referred to as the "Walking Horse Capital of the World," is a charming city located in Bedford County. With a population of around 22,000, it embodies a small-town vibe while offering various amenities and activities. The city is renowned for its rich equestrian heritage, hosting the Tennessee Walking Horse National Celebration each year, attracting horse enthusiasts from across the country. The downtown area is picturesque, featuring historic buildings, local shops, and eateries that reflect the community's southern hospitality. Shelbyville's parks and recreational areas provide ample opportunities for outdoor activities, with facilities for sports, picnicking, and walking trails. Culturally, Shelbyville showcases a blend of traditional Tennessee values and modern sensibilities. The local arts scene, including galleries and community events, enriches the cultural tapestry of the area. Additionally, its central location, about an hour's drive from Nashville and Huntsville, makes it an attractive spot for those seeking a quieter lifestyle while still being close to urban conveniences. Overall, Shelbyville is a welcoming community with a unique identity tied closely to its equestrian roots and southern charm.

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