Shelbyville appreciation rates and housing market information

Shelbyville housing market information

With 4,569 people, 2,162 houses or apartments, and a median cost of homes of $99,385,

single-family detached homes are the single most common housing type in Shelbyville, accounting for 78.82% of the city's housing units. Other types of housing that are prevalent in Shelbyville include duplexes, homes converted to apartments, or other small apartment buildings (7.82%), mobile homes or trailers (6.66%), large apartment complexes or high rise apartments (5.87%), and a few row houses and other attached homes (0.83%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Shelbyville. Owner-occupied housing accounts for 64.57% of Shelbyville's homes, and 50.32% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Shelbyville's housing was primarily built during this period, from the '40s through the '60s. A full 39.82% of the city's housing hails from this era. Other housing ages represented in Shelbyville include homes built between 1939 and earlier (33.07%), and housing constructed from 1970-1994 (22.16%). There's also some housing in Shelbyville built between 1995 and later (4.95%).

Shelbyville home appreciation rates

Shelbyville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Shelbyville during the period has been just 5.80%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Shelbyville home appreciation rates, at 1.70%, have been at or slightly above the national average. In the latest quarter, Shelbyville's appreciation rate has been 0.26%, which annualizes to a rate of 1.04%.

Relative to Illinois, our data show that Shelbyville's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.