Shelby County, Indiana Housing Market Prices
Shelby County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 20% above the Indiana median More expensive than 73% of counties in Indiana$171,773
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Median rent 7% below the Indiana median More expensive than 77% of counties in Indiana$986
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Shelby County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $171,773 | $142,738 | $248,835 |
| Price Trend (Annual %) | 12.3% | 7.2% | 7.5% |
| Median Gross Rent | $986 | $1,062 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Shelby County is about 20% higher than in Indiana. Rent is about 7% lower than the Indiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Shelby County, up about 12.3% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Shelby County rose about 38.7% between 2015 and 2024, from $711 to $986. Over the same span, rent in Indiana rose about 42.6%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Shelby County.
Buying the median-priced home in Shelby County costs roughly 14.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Shelby County. The price-to-rent ratio in Indiana is about 11.2.
| Metric | Shelby County | Indiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $171,773 | $142,738 | $248,835 |
| Median Household Income | $72,014 | $71,967 | $80,455 |
| Price-to-Income Ratio | 2.4 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Shelby County rose about 103.0%, while median household income rose about 30.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Shelby County | Indiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.9% | 64.4% | 58.5% |
| Rental Rate | 25.8% | 26.9% | 31.2% |
| Vacancy Rate | 6.2% | 8.8% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Shelby County has a homeownership rate of 67.9%, higher than the Indiana average of 64.4%. Its housing vacancy rate is 6.2%, compared with 8.8% in Indiana.
Housing Stock
| Metric | Shelby County | Indiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1977 | 1975 | 1978 |
| Median Number of Rooms | 6.1 | 5.9 | 5.5 |
The typical housing unit in Shelby County was built around 1977. On average, 2.4 people live in a home with about 6.1 rooms, staying for about 16.0 years on average.
Shelby County, IN Housing Compared With Nearby Counties
Shelby County, IN is the 4th largest of the 5 counties compared here, 45,265 residents against a local median of 83,787. The measure that sets Shelby County, IN apart most is median rent: $986, 15% below the local median of $1,164.
The counties themselves spread $410 on median rent, so Shelby County, IN sits at one end of an already wide local range rather than apart from it. Shelby County, IN has the 4th highest median rent of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Shelby County, IN | 45,265 | $171,773 #3/5 | $986 #4/5 | 72.5% #4/5 |
| Hancock County, IN | 84,037 | $385,184 | $1,202 | 79.5% |
| Johnson County, IN | 166,315 | $161,827 | $1,271 | 72.7% |
| Bartholomew County, IN | 83,536 | $148,683 | $1,127 | 69.3% |
| Decatur County, IN | 26,422 | $202,778 | $861 | 76.1% |
Frequently Asked Questions
Common questions about the housing market in Shelby County, Indiana.
What is the median home price in Shelby County, Indiana?
The median home price in Shelby County, Indiana is $171,773, higher than the Indiana average of $142,738.
What is the average home price in Shelby County, Indiana?
The typical home price in Shelby County, Indiana, reported as the median sale price, is $171,773. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Shelby County, Indiana?
The median gross rent in Shelby County, Indiana is $986 per month, lower than the Indiana average of $1,062.
What was the median gross rent in Shelby County in 2020?
In 2020, the median gross rent in Shelby County, Indiana was $793 per month.
What is the price-to-rent ratio in Shelby County, Indiana?
The price-to-rent ratio in Shelby County, Indiana is about 14.5, meaning it would take roughly 14.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Shelby County.
Are home prices or rent rising faster in Shelby County, Indiana?
Both home prices and rent are rising in Shelby County, up about 12.3% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Shelby County, Indiana?
67.9% of households in Shelby County, Indiana own their home, higher than the Indiana average of 64.4%.
What is the vacancy rate in Shelby County, Indiana?
The housing vacancy rate in Shelby County, Indiana is 6.2%, lower than the Indiana average of 8.8%.
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