Shelby, MT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Shelby Neighborhoods Since 2000




Shelby, MT 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 3,268 people, 1,185 houses or apartments, and a median cost of homes of $161,547, Shelby real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Shelby, accounting for 61.87% of the city's housing units. Other types of housing that are prevalent in Shelby include large apartment complexes or high rise apartments ( 18.43%), mobile homes or trailers ( 12.88%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.77%).

People in Shelby primarily live in small (one, two or no bedroom) single-family detached homes. Shelby has a mixture of owner-occupied and renter-occupied housing.

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. Shelby's housing was primarily built during this period, from the '40s through the '60s. A full 46.59% of the city's housing hails from this era. Other housing ages represented in Shelby include homes built between 1970-1999 ( 35.43%) and housing constructed before 1939 ( 13.63%). There's also some housing in Shelby built between 2000 and later ( 4.34%).

Vacant housing appears to be an issue in Shelby. Fully 11.24% of the housing stock is classified as vacant. Left unchecked, vacant Shelby homes and apartments can be a drag on the real estate market, holding Shelby real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Shelby Home Appreciation Rates

In the last 10 years, Shelby has experienced some of the highest home appreciation rates of any community in the nation. Shelby real estate appreciated 25.22% over the last ten years, which is an average annual home appreciation rate of 2.27%, putting Shelby in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Shelby definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Shelby appreciation rates have trailed the rest of the nation. In the last twelve months, Shelby's appreciation rate has been 1.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Shelby were at 2.06%, which equates to an annual appreciation rate of 8.49%.

Importantly, this makes Shelby one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Montana, our data show that Shelby's latest annual appreciation rate is lower than 90% of the other cities and towns in Montana.

Average Home Values

 

Median Home Value:
$161,547

Shelby, MT HOME PRICES

Value Range
> $1,086,000 0.2
$815,001 - $1,086,000 0.0
$543,001 - $815,000 1.0
$434,001 - $543,000 1.9
$326,001 - $434,000 4.6
$217,001 - $326,000 20.3
$108,001 - $217,000 39.2
$55,001 - $108,000 19.6
$0 - $55,000 13.2

Low for MT
Average for Nation

Value Relative to Nation Value Relative to State
45.0134770889488 60.9375

Number Of Homes And Apartments:
1,185

Shelby Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MT*
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
73.55% 3.25% 3 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$720 / per month

Homeownership Rate

Homeownership
Owners 47.00
Renters 53.00
Vacant 11.24

Housing Market Details

 

Age of Homes

AGE OF Shelby HOMES
2000 or Newer 4.3
1970 - 1999 35.4
1940 - 1969 46.6
1939 or Older 13.6

Types of Homes

TYPE OF Shelby HOMES
Single-Family 61.9
Townhomes 1.0
Small Apt. Buildings 5.8
Apt. Complexes 18.4
Mobile Homes 12.9
Other 0.0

Home Size

SIZE OF Shelby HOMES
No Bedroom 6.89
1 Bedroom 13.48
2 Bedrooms 32.88
3 Bedrooms 27.04
4 Bedrooms 11.01
5 or more bedrooms 8.69

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Zip Codes in Shelby, MT