Shelby, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Shelby Neighborhoods Since 2000




Shelby, OH 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 9,058, 3,961 total housing units (homes and apartments), and a median house value of $83,956, house prices in Shelby are some of the most affordable in Ohio as well as the nation.

Single-family detached homes are the single most common housing type in Shelby, accounting for 66.75% of the city's housing units. Other types of housing that are prevalent in Shelby include duplexes, homes converted to apartments or other small apartment buildings ( 18.57%), large apartment complexes or high rise apartments ( 8.08%), and a few row houses and other attached homes ( 3.44%).

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 58.70% owning and 41.30% renting.

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 38.94% of the city's housing hails from this era. Other housing ages represented in Shelby include homes built between 1970-1999 ( 31.12%) and housing constructed before 1939 ( 25.78%). There's also some housing in Shelby built between 2000 and later ( 4.16%).

Vacant housing appears to be an issue in Shelby. Fully 13.25% 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

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 -1.97%, which is lower than 80% 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 0.52%, 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 1.44%, which equates to an annual appreciation rate of 5.90%.

Relative to Ohio, our data show that Shelby's latest annual appreciation rate is lower than 80% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$83,956

Shelby, OH HOME PRICES

Value Range
> $1,022,000 0.0
$766,001 - $1,022,000 0.7
$511,001 - $766,000 0.3
$409,001 - $511,000 0.2
$306,001 - $409,000 0.8
$205,001 - $306,000 3.2
$102,001 - $205,000 31.2
$51,001 - $102,000 51.2
$0 - $51,000 12.4

Very Low for OH
Very Low for Nation

Value Relative to Nation Value Relative to State
87.993671627798 90.0262467191601

Number Of Homes And Apartments:
3,961

Shelby Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
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
-11.99% -0.74% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$765 / per month

Homeownership Rate

Homeownership
Owners 58.70
Renters 41.30
Vacant 13.25

Housing Market Details

 

Age of Homes

AGE OF Shelby HOMES
2000 or Newer 4.2
1970 - 1999 31.1
1940 - 1969 38.9
1939 or Older 25.8

Types of Homes

TYPE OF Shelby HOMES
Single-Family 66.8
Townhomes 3.4
Small Apt. Buildings 18.6
Apt. Complexes 8.1
Mobile Homes 3.2
Other 0.0

Home Size

SIZE OF Shelby HOMES
No Bedroom 1.71
1 Bedroom 12.00
2 Bedrooms 32.57
3 Bedrooms 36.57
4 Bedrooms 15.79
5 or more bedrooms 1.36