Shelbyville, TN—37160
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Shelbyville, TN
Home Price Trends — Shelbyville, TN
As of Oct '25, the median home price in Shelbyville, TN is $306,000, with a year-over-year change of 0.6%. This indicates that home prices in Shelbyville, TN are flat. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $306,000 | 0.6% |
| Single Family | $306,000 | 0.7% |
| Condos | $232,000 | 0.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $207,000 | 0.5% |
3 Bed | $312,000 | 1.0% |
4 Bed | $378,000 | 0.0% |
| 5 Bed | $474,000 | 0.6% |
% of Housing Stock
Rental Trends — Shelbyville, TN
As of July '25, Rentcast reports the average rent in Shelbyville, TN is $1,740, with a year-over-year rent change of 6.1%. Per bedroom, the median rent as of July '25 in Shelbyville, TN is studios: $3,000, 1-bedrooms: $1,080, 2-bedrooms: $1,250, 3-bedrooms: $1,900, 4-bedrooms: $2,060. The most common rental property sizes in Shelbyville, TN are 2-bedroom and 3-bedroom, accounting for 49.9% and 21.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $1,740 |
| Studio Rent | $3,000 | $3,000 |
| 1 Bed Rent | $950 | $1,080 |
| 2 Bed Rent | $1,300 | $1,250 |
| 3 Bed Rent | $1,920 | $1,900 |
| 4 Bed Rent | $2,000 | $2,060 |
% of Rental Stock
Property Listings — Shelbyville, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Shelbyville, TN is 73. This is a increase of 44.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $342,000 | -3.0% |
Listing Count | 240 | 20.0% |
| Listings as % of Homes | 1.2% | 20.0% |
Days on Market | 73 | 44.0% |
Demographics — Shelbyville, TN
As of the latest ACS Survey released in 2023, Shelbyville, TN has a population of 36,400, which has increased by 7.4% over the past 5 years. Shelbyville, TN is a popular place for families, as children make up 26.7% of the population. The area has a poorly educated workforce, with 15.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,400 | 7.4% |
% Under 18 | 26.7% | 1.1% |
% Seniors | 13.6% | -5.6% |
% WFH | 7.4% | 184.6% |
% w/ College Degree | 15.6% | 5.4% |
As of the latest ACS Survey released in 2023, Shelbyville, TN is a predominantly white area, with 66.1% of the population identifying as white. The white population has shrunk by 6.4% in the last 5 years. The second most common race or ethnicity in Shelbyville, TN is hispanic, making up 20.9% of the population. Foreign-born residents account for 9.0% of the population in Shelbyville, TN, and this percentage has increased by 12.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 66.1% | -6.4% |
% Black | 8.5% | -8.6% |
% Hispanic | 20.9% | 29.0% |
% Asian | 0.6% | 500.0% |
% Foreign Born | 9.0% | 12.5% |
Mortgage and Risk — Shelbyville, TN
According to HUD data as of 2023, there were 795 mortgage originations in Shelbyville, TN, of which 57.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Shelbyville, TN. Investor activity is low, as 2.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 795 |
% Conventional Loans | 57.0% |
% Government Loans | 43.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Shelbyville, TN
As of 2024, the percent of homes in Shelbyville, TN under the Section 8 program is 3.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Shelbyville, TN, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 643 |
Total Units Section 8 | 176 |
% Rentals under Section 8 | 3.7% |
% Occupied Section 8 | 88.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $350 | $950 | $1,300 |
| 2 Bedroom | $160 | $1,300 | $1,460 |
| 3 Bedroom | -$80 | $1,920 | $1,840 |
| 4 Bedroom | $240 | $2,000 | $2,240 |
Affordability — Shelbyville, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $306,000 |
| Median Household Income | $58,900 |