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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Shelby, OH Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Shelby, OH Housing Market Trends

With a population of 9,278, 3,483 total housing units (homes and apartments), and a median house value of $191,311, 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 70.63% 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 ( 14.14%), large apartment complexes or high rise apartments ( 8.68%), and a few mobile homes or trailers ( 4.37%).

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 60.43% owning and 39.57% 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 40.83% of the city's housing hails from this era. Other housing ages represented in Shelby include homes built before 1939 ( 25.49%) and housing constructed between 1970-1999 ( 25.09%). There's also some housing in Shelby built between 2000 and later ( 8.60%).

Shelby Home Appreciation Rates

Appreciation rates for homes in Shelby have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.67%, which ranks in the top 40% nationwide. This equates to an annual average Shelby house appreciation rate of 7.00%.

Appreciation rates are so strong in Shelby that despite a nationwide downturn in the housing market, Shelby real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Shelby appreciation rates continue to be some of the highest in America, at 16.70%, which is higher than appreciation rates in 99.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Shelby. Shelby appreciation rates in the latest quarter were at 5.45%, which equates to an annual appreciation rate of 23.63%.

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

Average Home Values

Median Home Value

$191,311

Shelby, OH Home Prices
> $1,450,000
$1,088,001 - $1,450,000
$725,001 - $1,088,000
$580,001 - $725,000
$435,001 - $580,000
$290,001 - $435,000
$145,001 - $290,000
$72,001 - $145,000
$0 - $72,000
0.0%
0.0%
0.1%
0.1%
0.1%
0.1%
1.6%
1.6%
3.3%
3.3%
10.6%
10.6%
46.6%
46.6%
28.6%
28.6%
9.1%
9.1%
0% 100.0%
% of Homes
Low

for Ohio

Low

for nation

Number of Homes And Apartments:

3,483

Shelby Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,277 / per month

Homeownership Rate

Owners
Renters
60.4%
60.4%
39.6%
39.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.2%
7.2%
92.8%
92.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.6%
8.6%
25.1%
25.1%
40.8%
40.8%
25.5%
25.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
70.6%
70.6%
2.2%
2.2%
14.1%
14.1%
8.7%
8.7%
4.4%
4.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.6%
0.6%
8.9%
8.9%
29.4%
29.4%
46.1%
46.1%
12.5%
12.5%
2.5%
2.5%
0% 100.0%
% of Homes