Shelby Township, MI 48317 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Shelby Township, MI—48317

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$287,000

2.7% YoY Growth

Household Income

$72,500

16.4% YoY Growth

Days on Market

33

6.0% Longer YoY

Home Price Forecast

1.7%

Median Rent

$1,600

11.3% YoY Growth

1-Bed Rent

$1,100

11.8% YoY Growth

2-Bed Rent

$1,700

4.9% YoY Growth

3-Bed Rent

$1,750

7.1% YoY Growth

Other Zip Codes in Shelby Township, MI

Home Price Trends — Shelby Township, MI

As of Nov '25, the median home price in Shelby Township, MI is $287,000, with a year-over-year change of 2.7%. This indicates that home prices in Shelby Township, MI 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	$287,000	2.7%
Single Family	$288,000	2.5%
Condos	$279,000	3.3%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Shelby Township, MI

As of July '25, Rentcast reports the average rent in Shelby Township, MI is $1,650, with a year-over-year rent change of -11.3%. Per bedroom, the median rent as of July '25 in Shelby Township, MI is 1-bedrooms: $1,140, 2-bedrooms: $1,710, 3-bedrooms: $1,950, 4-bedrooms: $2,800. The most common rental property sizes in Shelby Township, MI are 2-bedroom and 1-bedroom, accounting for 55.9% and 24.9% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,600	$1,650
Studio Rent	N/A	N/A
1 Bed Rent	$1,100	$1,140
2 Bed Rent	$1,700	$1,710
3 Bed Rent	$1,750	$1,950
4 Bed Rent	$2,300	$2,800

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% of Rental Stock

Studio

2.7%

1 Bedroom

24.9%

2 Bedrooms

55.9%

3 Bedrooms

14.2%

4 Bedrooms

2.3%

5+ Bedrooms

0.1%

Property Listings — Shelby Township, MI

As of Nov '25, Realtor.com reports that the median days on market for a home in Shelby Township, MI is 33. This is a increase of 6.0% 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	$312,000	-3.0%
Listing Count	65	39.0%
Listings as % of Homes	0.2%	39.0%
Days on Market	33	6.0%

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Demographics — Shelby Township, MI

As of the latest ACS Survey released in 2023, Shelby Township, MI has a population of 28,000, which has decreased by -2.5% over the past 5 years. Shelby Township, MI is a moderately popular place for families, as children make up 20.2% of the population. The area has a moderately educated workforce, with 31.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.1% reporting working from home.

Metric	Latest Census	YoY % Change
Population	28,000	-2.5%
% Under 18	20.2%	-3.8%
% Seniors	15.7%	19.8%
% WFH	10.1%	206.1%
% w/ College Degree	31.9%	6.3%

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As of the latest ACS Survey released in 2023, Shelby Township, MI is a predominantly white area, with 78.7% of the population identifying as white. The white population has shrunk by 5.5% in the last 5 years. The second most common race or ethnicity in Shelby Township, MI is asian, making up 6.0% of the population. Foreign-born residents account for 17.6% of the population in Shelby Township, MI, and this percentage has increased by 19.7% 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	78.7%	-5.5%
% Black	4.9%	22.5%
% Hispanic	3.9%	2.6%
% Asian	6.0%	-10.4%
% Foreign Born	17.6%	19.7%

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Mortgage and Risk — Shelby Township, MI

According to HUD data as of 2023, there were 471 mortgage originations in Shelby Township, MI, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Shelby Township, MI. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	471
% Conventional Loans	88.0%
% Government Loans	12.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	14.0%

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Rentals and Section 8 — Shelby Township, MI

As of 2024, the percent of homes in Shelby Township, MI under the Section 8 program is 1.3%. 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 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Shelby Township, MI, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	68
Total Units Section 8	68
% Rentals under Section 8	1.3%
% Occupied Section 8	88.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$80	$1,100	$1,180
2 Bedroom	-$210	$1,700	$1,490
3 Bedroom	$80	$1,750	$1,830
4 Bedroom	-$320	$2,300	$1,980