Shelbyville, IN—46176
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Shelbyville, IN
As of Oct '25, the median home price in Shelbyville, IN is $220,000, with a year-over-year change of 2.6%. This indicates that home prices in Shelbyville, IN are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $220,000 | 2.6% |
| Single Family | $220,000 | 1.9% |
| Condos | $227,000 | 4.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $98,000 | 3.2% |
2 Bed | $151,000 | 2.7% |
3 Bed | $229,000 | 2.2% |
4 Bed | $300,000 | 1.7% |
| 5 Bed | $355,000 | 0.0% |
% of Housing Stock
Rental Trends — Shelbyville, IN
As of July '25, Rentcast reports the average rent in Shelbyville, IN is $1,010, with a year-over-year rent change of -9.0%. Per bedroom, the median rent as of July '25 in Shelbyville, IN is studios: $962, 1-bedrooms: $767, 2-bedrooms: $876, 3-bedrooms: $2,020, 4-bedrooms: $1,950. The most common rental property sizes in Shelbyville, IN are 2-bedroom and 3-bedroom, accounting for 47.2% and 24.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $760 | $1,010 |
| Studio Rent | $875 | $962 |
| 1 Bed Rent | $695 | $767 |
| 2 Bed Rent | $775 | $876 |
| 3 Bed Rent | $1,800 | $2,020 |
| 4 Bed Rent | $2,040 | $1,950 |
% of Rental Stock
Property Listings — Shelbyville, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Shelbyville, IN is 40. This is a increase of 24.0% 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 43.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $268,000 | -4.0% |
Listing Count | 93 | 15.0% |
| Listings as % of Homes | 0.4% | 15.0% |
Days on Market | 40 | 24.0% |
Demographics — Shelbyville, IN
As of the latest ACS Survey released in 2023, Shelbyville, IN has a population of 28,600, which has increased by 3.5% over the past 5 years. Shelbyville, IN is a moderately popular place for families, as children make up 23.5% of the population. The area has a poorly educated workforce, with 19.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,600 | 3.5% |
% Under 18 | 23.5% | 0.9% |
% Seniors | 17.1% | 3.6% |
% WFH | 7.7% | 234.8% |
% w/ College Degree | 19.1% | 2.7% |
As of the latest ACS Survey released in 2023, Shelbyville, IN is a predominantly white area, with 88.0% of the population identifying as white. The white population has shrunk by 2.0% in the last 5 years. The second most common race or ethnicity in Shelbyville, IN is hispanic, making up 7.3% of the population. Foreign-born residents account for 4.6% of the population in Shelbyville, IN, and this percentage has increased by 27.8% 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 | 88.0% | -2.0% |
% Black | 1.8% | 28.6% |
% Hispanic | 7.3% | 17.7% |
% Asian | 1.1% | 0.0% |
% Foreign Born | 4.6% | 27.8% |
Mortgage and Risk — Shelbyville, IN
According to HUD data as of 2023, there were 671 mortgage originations in Shelbyville, IN, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Shelbyville, IN. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 671 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Shelbyville, IN
As of 2024, the percent of homes in Shelbyville, IN under the Section 8 program is 8.5%. 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 units appear to be good home sizes to consider for Section 8 housing in Shelbyville, IN, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 330 |
Total Units Section 8 | 329 |
% Rentals under Section 8 | 8.5% |
% Occupied Section 8 | 92.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $345 | $695 | $1,040 |
| 2 Bedroom | $445 | $775 | $1,220 |
| 3 Bedroom | -$210 | $1,800 | $1,590 |
| 4 Bedroom | -$120 | $2,040 | $1,920 |
Affordability — Shelbyville, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $220,000 |
| Median Household Income | $66,000 |