Shelby, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Shelby Neighborhoods Since 2000




Shelby, MI Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Shelby Housing Market Information

With a population of 2,018, 663 total housing units (homes and apartments), and a median house value of $102,541, house prices in Shelby are solidly below the national average.

Single-family detached homes are the single most common housing type in Shelby, accounting for 70.34% of the village's housing units. Other types of housing that are prevalent in Shelby include large apartment complexes or high rise apartments ( 13.06%), mobile homes or trailers ( 9.25%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.67%).

The most prevalent building size and type in Shelby are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 55.81% owning and 44.19% renting.

There is a lot of housing in Shelby 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 Shelby built between 1940-1969 ( 26.94%). A lesser amount of the housing stock also hails from before 1939 ( 26.80%). There's also some housing in Shelby built between 2000 and later ( 9.39%).

Shelby Home Appreciation Rates

Shelby's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Shelby during the period has been just -1.00%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Shelby's appreciation rate, at 3.34%, has been at or slightly above the national average. In the latest quarter, Shelby's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

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

Average Home Values

 

Median Home Value:
$102,541

Shelby, MI HOME PRICES

Value Range
> $1,108,000 0.0
$831,001 - $1,108,000 0.1
$554,001 - $831,000 0.7
$443,001 - $554,000 0.2
$332,001 - $443,000 2.4
$221,001 - $332,000 7.7
$111,001 - $221,000 33.4
$56,001 - $111,000 37.0
$0 - $56,000 18.5

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
75.9521856322513 73.3974358974359

Number Of Homes And Apartments:
663

Shelby Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
13.89% 0.76% 7 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$825 / per month

Homeownership Rate

Homeownership
Owners 55.81
Renters 44.19
Vacant 9.80

Housing Market Details

 

Age of Homes

AGE OF Shelby HOMES
2000 or Newer 9.4
1970 - 1999 36.9
1940 - 1969 26.9
1939 or Older 26.8

Types of Homes

TYPE OF Shelby HOMES
Single-Family 70.3
Townhomes 0.7
Small Apt. Buildings 6.7
Apt. Complexes 13.1
Mobile Homes 9.3
Other 0.0

Home Size

SIZE OF Shelby HOMES
No Bedroom 0.54
1 Bedroom 10.75
2 Bedrooms 21.36
3 Bedrooms 52.52
4 Bedrooms 13.74
5 or more bedrooms 1.09

Popular Neighborhoods in Shelby

Zip Codes in Shelby, MI