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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Shelbyville, IN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Shelbyville, IN Housing Market Trends

With a population of 20,159, 8,258 total housing units (homes and apartments), and a median house value of $220,576, house prices in Shelbyville are solidly below the national average.

Single-family detached homes are the single most common housing type in Shelbyville, accounting for 62.61% of the city's housing units. Other types of housing that are prevalent in Shelbyville include large apartment complexes or high rise apartments ( 17.09%), duplexes, homes converted to apartments or other small apartment buildings ( 9.99%), and a few mobile homes or trailers ( 6.24%).

The most prevalent building size and type in Shelbyville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.50% owning and 45.50% renting.

There is a lot of housing in Shelbyville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Shelbyville built between 1940-1969 ( 25.95%). A lesser amount of the housing stock also hails from before 1939 ( 22.21%). There's also some housing in Shelbyville built between 2000 and later ( 14.80%).

Shelbyville Home Appreciation Rates

Appreciation rates for homes in Shelbyville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.41%, which ranks in the top 50% nationwide. This equates to an annual average Shelbyville house appreciation rate of 6.54%.

Over the last year, Shelbyville appreciation rates have trailed the rest of the nation. In the last twelve months, Shelbyville's appreciation rate has been 4.05%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Shelbyville were at -0.17%, which equates to an annual appreciation rate of -0.68%.

Notably, Shelbyville's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Indiana, our data show that Shelbyville's latest annual appreciation rate is lower than 70% of the other cities and towns in Indiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Shelbyville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Shelbyville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Shelbyville real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$220,576

Shelbyville, IN Home Prices
> $1,388,000
$1,041,001 - $1,388,000
$694,001 - $1,041,000
$555,001 - $694,000
$417,001 - $555,000
$278,001 - $417,000
$139,001 - $278,000
$70,001 - $139,000
$0 - $70,000
0.5%
0.5%
0.3%
0.3%
0.3%
0.3%
1.0%
1.0%
3.3%
3.3%
20.0%
20.0%
45.8%
45.8%
22.3%
22.3%
6.5%
6.5%
0% 100.0%
% of Homes
Average

for Indiana

Low

for nation

Number of Homes And Apartments:

8,258

Shelbyville Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,562 / per month

Homeownership Rate

Owners
Renters
54.5%
54.5%
45.5%
45.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
9.7%
9.7%
90.3%
90.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.8%
14.8%
37.0%
37.0%
25.9%
25.9%
22.2%
22.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.6%
62.6%
4.1%
4.1%
10.0%
10.0%
17.1%
17.1%
6.2%
6.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.9%
1.9%
12.6%
12.6%
32.0%
32.0%
42.2%
42.2%
9.6%
9.6%
1.7%
1.7%
0% 100.0%
% of Homes