Shelbyville, KY—40065
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Shelbyville, KY
As of Oct '25, the median home price in Shelbyville, KY is $305,000, with a year-over-year change of 3.5%. This indicates that home prices in Shelbyville, KY are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $305,000 | 3.5% |
| Single Family | $306,000 | 3.4% |
| Condos | $281,000 | 6.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $225,000 | 3.2% |
3 Bed | $291,000 | 3.2% |
4 Bed | $384,000 | 2.9% |
| 5 Bed | $522,000 | 2.6% |
% of Housing Stock
Rental Trends — Shelbyville, KY
As of July '25, Rentcast reports the average rent in Shelbyville, KY is $1,890, with a year-over-year rent change of 13.2%. Per bedroom, the median rent as of July '25 in Shelbyville, KY is 1-bedrooms: $1,280, 2-bedrooms: $1,140, 3-bedrooms: $2,000, 4-bedrooms: $2,440. The most common rental property sizes in Shelbyville, KY are 2-bedroom and 3-bedroom, accounting for 50.0% and 31.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,020 | $1,890 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,040 | $1,280 |
| 2 Bed Rent | $1,100 | $1,140 |
| 3 Bed Rent | $2,080 | $2,000 |
| 4 Bed Rent | $2,550 | $2,440 |
% of Rental Stock
Property Listings — Shelbyville, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Shelbyville, KY is 42. This is a decrease of -18.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $382,000 | 6.0% |
Listing Count | 152 | 38.0% |
| Listings as % of Homes | 0.7% | 38.0% |
Days on Market | 42 | -18.0% |
Demographics — Shelbyville, KY
As of the latest ACS Survey released in 2023, Shelbyville, KY has a population of 31,800, which has increased by 3.8% over the past 5 years. Shelbyville, KY is a moderately popular place for families, as children make up 23.6% of the population. The area has a moderately educated workforce, with 28.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,800 | 3.8% |
% Under 18 | 23.6% | -4.1% |
% Seniors | 17.2% | 16.2% |
% WFH | 11.7% | 185.4% |
% w/ College Degree | 28.5% | 23.9% |
As of the latest ACS Survey released in 2023, Shelbyville, KY is a predominantly white area, with 73.7% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Shelbyville, KY is hispanic, making up 13.5% of the population. Foreign-born residents account for 7.9% of the population in Shelbyville, KY, and this percentage has increased by 1.3% 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 | 73.7% | -2.6% |
% Black | 6.2% | -21.5% |
% Hispanic | 13.5% | 8.9% |
% Asian | 1.4% | 55.6% |
% Foreign Born | 7.9% | 1.3% |
Mortgage and Risk — Shelbyville, KY
According to HUD data as of 2023, there were 734 mortgage originations in Shelbyville, KY, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Shelbyville, KY. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 734 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Shelbyville, KY
As of 2024, the percent of homes in Shelbyville, KY under the Section 8 program is 9.8%. 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. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Shelbyville, KY, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 457 |
Total Units Section 8 | 355 |
% Rentals under Section 8 | 9.8% |
% Occupied Section 8 | 80.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $0 | $1,040 | $1,040 |
| 2 Bedroom | $80 | $1,100 | $1,180 |
| 3 Bedroom | -$540 | $2,080 | $1,540 |
| 4 Bedroom | -$790 | $2,550 | $1,760 |
Affordability — Shelbyville, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $305,000 |
| Median Household Income | $76,800 |