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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 19,407 people, 7,752 houses or apartments, and a median cost of homes of $140,130, 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 65.19% of the city's housing units. Other types of housing that are prevalent in Shelbyville include large apartment complexes or high rise apartments ( 14.22%), duplexes, homes converted to apartments or other small apartment buildings ( 11.85%), and a few row houses and other attached homes ( 4.64%).

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 57.12% owning and 42.88% 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 ( 25.68%). A lesser amount of the housing stock also hails from before 1939 ( 25.04%). There's also some housing in Shelbyville built between 2000 and later ( 13.86%).

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 33.18%, which ranks in the top 50% nationwide. This equates to an annual average Shelbyville house appreciation rate of 2.91%.

Appreciation rates are so strong in Shelbyville that despite a nationwide downturn in the housing market, Shelbyville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Shelbyville appreciation rates continue to be some of the highest in America, at 6.56%, which is higher than appreciation rates in 77.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Shelbyville. Shelbyville appreciation rates in the latest quarter were at 2.43%, which equates to an annual appreciation rate of 10.07%.

Relative to Indiana, our data show that Shelbyville's latest annual appreciation rate is higher than 80% 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:
$140,130

Shelbyville, IN HOME PRICES

> $1,192,000
0.2%
0.2%
$894,001 - $1,192,000
0.0%
0.0%
$596,001 - $894,000
0.0%
0.0%
$477,001 - $596,000
1.8%
1.8%
$357,001 - $477,000
1.7%
1.7%
$239,001 - $357,000
6.0%
6.0%
$119,001 - $239,000
41.9%
41.9%
$59,001 - $119,000
40.8%
40.8%
$0 - $59,000
7.5%
7.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for IN

Value Relative To Nation

Number Of Homes And Apartments:
7,752

Shelbyville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
29.99% 1.26%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$956 / per month

Homeownership Rate

Owners
57.1%
57.1%
Renters
42.9%
42.9%
Vacant
9.4%
9.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
13.9%
13.9%
1970 - 1999
35.4%
35.4%
1940 - 1969
25.7%
25.7%
1939 or Older
25.0%
25.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
65.2%
65.2%
Townhomes
4.6%
4.6%
Small Apt. Buildings
11.9%
11.9%
Apt. Complexes
14.2%
14.2%
Mobile Homes
4.1%
4.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.6%
1.6%
1 Bedroom
12.5%
12.5%
2 Bedrooms
33.5%
33.5%
3 Bedrooms
40.8%
40.8%
4 Bedrooms
9.1%
9.1%
5 or more bedrooms
2.5%
2.5%
0.0% 100.0%
% OF HOMES