Shelbyville, IN 46176 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Shelbyville, IN—46176

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$226,000

0.4% YoY Growth

Household Income

$66,000

18.7% YoY Growth

Days on Market

20.0% Longer YoY

Home Price Forecast

0.4%

Median Rent

$760

9.0% YoY Growth

1-Bed Rent

$695

5.5% YoY Growth

2-Bed Rent

$775

18.1% YoY Growth

3-Bed Rent

$1,800

34.7% YoY Growth

Home Price Trends — Shelbyville, IN

As of May '26, the median home price in Shelbyville, IN is $226,000, with a year-over-year change of -0.4%. This indicates that home prices in Shelbyville, IN are flat. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$226,000	-0.4%
Single Family	$226,000	-0.9%
Condos	$225,000	1.4%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

2.3%

1 Bedroom

20.0%

2 Bedrooms

47.2%

3 Bedrooms

24.1%

4 Bedrooms

5.6%

5+ Bedrooms

0.9%

Property Listings — Shelbyville, IN

As of May '26, Realtor.com reports that the median days on market for a home in Shelbyville, IN is 39. This is a increase of 20.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$264,000	-3.0%
Listing Count	118	42.0%
Listings as % of Homes	0.4%	42.0%
Days on Market	39	20.0%

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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%

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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%

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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%

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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

Shelbyville, IN—46176

Key Metrics at a Glance

Home Price Trends — Shelbyville, IN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Shelbyville, IN

% of Rental Stock

Property Listings — Shelbyville, IN

Demographics — Shelbyville, IN

Race and Ethnicity

Mortgage and Risk — Shelbyville, IN

Mortgages

Rentals and Section 8 — Shelbyville, IN

Section 8 Market Size

Section 8 Opportunity

Affordability — Shelbyville, IN

Home Price to Income Ratio

Shelbyville, IN — ZIP Code Boundary Map

Nearby ZIP Codes

Waldron, IN

Boggstown, IN

Fairland, IN

Waldron, IN

Fountaintown, IN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.1
Median Home Price	$226,000
Median Household Income	$66,000

Shelbyville, IN—46176

Key Metrics at a Glance

Home Price Trends — Shelbyville, IN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Shelbyville, IN

% of Rental Stock

Property Listings — Shelbyville, IN

Demographics — Shelbyville, IN

Race and Ethnicity

Mortgage and Risk — Shelbyville, IN

Mortgages

Rentals and Section 8 — Shelbyville, IN

Section 8 Market Size

Section 8 Opportunity

Affordability — Shelbyville, IN

Home Price to Income Ratio

Shelbyville, IN — ZIP Code Boundary Map

Nearby ZIP Codes

Waldron, IN

Boggstown, IN

Fairland, IN

Waldron, IN

Fountaintown, IN

Frequently Asked Questions

What is the average home price in Shelbyville, IN 46176?

How have home prices in Shelbyville, IN 46176 changed over the past year?

What is the home price projection for Shelbyville, IN 46176?

What are the demographics of Shelbyville, IN 46176?

How long does it take homes to sell in Shelbyville, IN 46176?

What is the average rent price in Shelbyville, IN 46176?