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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 20,189 people, 8,097 houses or apartments, and a median cost of homes of $111,648, 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 73.50% of the city's housing units. Other types of housing that are prevalent in Shelby include large apartment complexes or high rise apartments ( 13.89%), duplexes, homes converted to apartments or other small apartment buildings ( 8.32%), and a few mobile homes or trailers ( 2.33%).
The most prevalent building size and type in Shelby are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.46% owning and 47.54% 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 ( 36.76%). A lesser amount of the housing stock also hails from before 1939 ( 8.35%). There's also some housing in Shelby built between 2000 and later ( 6.46%).
Vacant housing appears to be an issue in Shelby. Fully 16.43% 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'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 -0.98%, which is lower than 70% of US communities.
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 -0.76%, 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 -0.54%, which equates to an annual appreciation rate of -2.13%.
Notably, Shelby's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Carolina, our data show that Shelby's latest annual appreciation rate is lower than 80% of the other cities and towns in North Carolina.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Shelby differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Shelby - 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 Shelby real estate investment or home purchase decisions.
|$761,001 - $1,016,000||0.3|
|$508,001 - $761,000||0.6|
|$406,001 - $508,000||1.3|
|$305,001 - $406,000||2.8|
|$203,001 - $305,000||10.6|
|$102,001 - $203,000||41.2|
|$51,001 - $102,000||33.0|
|$0 - $51,000||9.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Shelby HOMES|
|2000 or Newer||6.5|
|1970 - 1999||48.4|
|1940 - 1969||36.8|
|1939 or Older||8.3|
|TYPE OF Shelby HOMES|
|Small Apt. Buildings||8.3|
|SIZE OF Shelby HOMES|
|5 or more bedrooms||2.84|