Shelby, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Shelby, MI Real Estate Data


Shelby Housing Market Information

With 2,018 people, 613 houses or apartments, and a median cost of homes of $105,993, 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 74.96% of the village's housing units. Other types of housing that are prevalent in Shelby include large apartment complexes or high rise apartments ( 10.49%), duplexes, homes converted to apartments or other small apartment buildings ( 7.05%), and a few mobile homes or trailers ( 6.90%).

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 57.23% owning and 42.77% 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 before 1939 ( 30.28%). A lesser amount of the housing stock also hails from between 1940-1969 ( 28.49%). There's also some housing in Shelby built between 2000 and later ( 8.85%).

Shelby Home Appreciation Rates

Real estate appreciation rates in Shelby's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.45% during the period.

NeighborhoodScout's data show that during the latest twelve months, Shelby's appreciation rate, at 4.63%, has been at or slightly above the national average. In the latest quarter, Shelby's appreciation rate has been 1.43%, which annualizes to a rate of 5.84%.

Relative to Michigan, our data show that Shelby's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$105,993

Shelby, MI HOME PRICES

Value Range
> $1,143,000 0.0
$857,001 - $1,143,000 0.1
$572,001 - $857,000 0.6
$457,001 - $572,000 0.5
$343,001 - $457,000 1.4
$229,001 - $343,000 7.5
$114,001 - $229,000 35.7
$57,001 - $114,000 36.5
$0 - $57,000 17.8

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
74.9780406394566 72.275641025641

Number Of Homes And Apartments:
613

Rent & Ownership

 

Average Market Rent:
$856 / per month

Homeownership Rate

Homeownership
Owners 57.23
Renters 42.77
Vacant 8.10

Housing Market Details

 

Age of Homes

AGE OF Shelby HOMES
2000 or Newer 8.8
1970 - 1999 32.4
1940 - 1969 28.5
1939 or Older 30.3

Types of Homes

TYPE OF Shelby HOMES
Single-Family 75.0
Townhomes 0.6
Small Apt. Buildings 7.0
Apt. Complexes 10.5
Mobile Homes 6.9
Other 0.0

Home Size

SIZE OF Shelby HOMES
No Bedroom 0.00
1 Bedroom 13.79
2 Bedrooms 19.79
3 Bedrooms 49.78
4 Bedrooms 14.24
5 or more bedrooms 2.40

Shelby Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
19.14% 1.04% 8 2
* 10 is highest

Popular Neighborhoods in Shelby

Zip Codes in Shelby, MI