Shelby Township, MI—48316
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Shelby Township, MI
As of Oct '25, the median home price in Shelby Township, MI is $405,000, with a year-over-year change of 4.1%. This indicates that home prices in Shelby Township, MI are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $405,000 | 4.1% |
| Single Family | $432,000 | 3.3% |
| Condos | $285,000 | 2.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $247,000 | 1.6% |
3 Bed | $368,000 | 3.7% |
4 Bed | $551,000 | 3.8% |
| 5 Bed | $614,000 | 2.3% |
% of Housing Stock
Rental Trends — Shelby Township, MI
As of July '25, Rentcast reports the average rent in Shelby Township, MI is $1,900, with a year-over-year rent change of -7.3%. Per bedroom, the median rent as of July '25 in Shelby Township, MI is 1-bedrooms: $1,320, 2-bedrooms: $1,770, 3-bedrooms: $2,570. The most common rental property sizes in Shelby Township, MI are 2-bedroom and 3-bedroom, accounting for 62.0% and 20.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $1,900 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,050 | $1,320 |
| 2 Bed Rent | $1,820 | $1,770 |
| 3 Bed Rent | $2,070 | $2,570 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Shelby Township, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Shelby Township, MI is 37. This is a increase of 18.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $465,000 | -13.0% |
Listing Count | 123 | 14.0% |
| Listings as % of Homes | 0.5% | 14.0% |
Days on Market | 37 | 18.0% |
Demographics — Shelby Township, MI
As of the latest ACS Survey released in 2023, Shelby Township, MI has a population of 28,400, which has increased by 2.8% over the past 5 years. Shelby Township, MI is a moderately popular place for families, as children make up 19.9% of the population. The area has a highly educated workforce, with 45.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,400 | 2.8% |
% Under 18 | 19.9% | -8.7% |
% Seniors | 23.3% | 28.0% |
% WFH | 15.3% | 302.6% |
% w/ College Degree | 45.2% | 21.2% |
As of the latest ACS Survey released in 2023, Shelby Township, MI is a predominantly white area, with 88.8% 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 Shelby Township, MI is hispanic, making up 3.4% of the population. Foreign-born residents account for 12.4% of the population in Shelby Township, MI, and this percentage has decreased by 10.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.8% | -2.6% |
% Black | 1.9% | 58.3% |
% Hispanic | 3.4% | 47.8% |
% Asian | 2.7% | -12.9% |
% Foreign Born | 12.4% | -10.1% |
Mortgage and Risk — Shelby Township, MI
According to HUD data as of 2023, there were 565 mortgage originations in Shelby Township, MI, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Shelby Township, MI. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 565 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Shelby Township, MI
Shelby Township, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $170 | $1,050 | $1,220 |
| 2 Bedroom | -$280 | $1,820 | $1,540 |
| 3 Bedroom | -$180 | $2,070 | $1,890 |
| 4 Bedroom | N/A | N/A | $2,040 |
Affordability — Shelby Township, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $405,000 |
| Median Household Income | $101,000 |