Shelbyville, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Shelbyville Neighborhoods Since 2000




Shelbyville, TN 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

Shelbyville Housing Market Information

With a population of 21,317, 7,582 total housing units (homes and apartments), and a median house value of $132,698, house prices in Shelbyville are solidly below the national average.

Single-family detached homes are the single most common housing type in Shelbyville, accounting for 68.56% of the city's housing units. Other types of housing that are prevalent in Shelbyville include large apartment complexes or high rise apartments ( 12.19%), mobile homes or trailers ( 8.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.01%).

The most prevalent building size and type in Shelbyville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.55% owning and 52.45% renting.

There is a lot of housing in Shelbyville 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 Shelbyville built between 1940-1969 ( 38.84%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.17%). There's also some housing in Shelbyville built before 1939 ( 3.26%).

Vacant housing appears to be an issue in Shelbyville. Fully 10.08% of the housing stock is classified as vacant. Left unchecked, vacant Shelbyville homes and apartments can be a drag on the real estate market, holding Shelbyville 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.

Shelbyville Home Appreciation Rates

Appreciation rates for homes in Shelbyville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.29%, which ranks in the top 50% nationwide. This equates to an annual average Shelbyville house appreciation rate of 0.42%.

NeighborhoodScout's data show that during the latest twelve months, Shelbyville's appreciation rate, at 5.54%, has been at or slightly above the national average. In the latest quarter, Shelbyville's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Tennessee, our data show that Shelbyville's latest annual appreciation rate is higher than 70% of the other cities and towns in Tennessee.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Shelbyville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Shelbyville - 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 Shelbyville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$132,698

Shelbyville, TN HOME PRICES

Value Range
> $1,146,000 0.9
$859,001 - $1,146,000 0.4
$573,001 - $859,000 0.0
$458,001 - $573,000 1.9
$344,001 - $458,000 3.2
$229,001 - $344,000 8.8
$114,001 - $229,000 37.6
$57,001 - $114,000 39.9
$0 - $57,000 7.3

Average for TN
Average for Nation

Value Relative to Nation Value Relative to State
58.3880229696472 41.5816326530612

Number Of Homes And Apartments:
7,582

Shelbyville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
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
29.89% 1.53% 4 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$887 / per month

Homeownership Rate

Homeownership
Owners 47.55
Renters 52.45
Vacant 10.08

Housing Market Details

 

Age of Homes

AGE OF Shelbyville HOMES
2000 or Newer 18.2
1970 - 1999 39.7
1940 - 1969 38.8
1939 or Older 3.3

Types of Homes

TYPE OF Shelbyville HOMES
Single-Family 68.6
Townhomes 2.4
Small Apt. Buildings 8.0
Apt. Complexes 12.2
Mobile Homes 8.9
Other 0.0

Home Size

SIZE OF Shelbyville HOMES
No Bedroom 1.53
1 Bedroom 9.24
2 Bedrooms 28.39
3 Bedrooms 48.86
4 Bedrooms 9.29
5 or more bedrooms 2.69