Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$244,636+1.1% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 32% have cut their price
Income needed to buy, per year$53,032About 0.7× the local median income ($76,907): affordable for a typical household
Days on market53 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+1.9%Zillow expects prices to rise slightly
The typical home in Shelby County, IN is worth $244,636, up 1.1% from a year ago. That is well above what local incomes have historically supported: fair value is about $210,188, so the area is 16.4% overvalued. It is a buyer's market: homes take about 53 days to sell, listings are up 22% from a year ago, 32% of listings have had a price cut. Zillow expects prices to rise about 1.9% over the next year. A household needs about $53,032 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $76,907. Typical rent is $1,096 a month, or $1,362 for a house. In the latest IRS figures, 10 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$244,636
Change in 1 year
+1.1%
Overvalued %
+16.4%
Show 7 more
Fair home value
$210,188
Change in 5 years
+28.2%
Zillow forecast, next 12 months
+1.9%
Home value to income
3.2×
Monthly mortgage payment (20% down)
$1,326
Income needed to afford it
$53,032
Property tax rate
0.67%
Rent and investing
Typical rent
$1,096
Typical rent for houses
$1,362
Price-to-rent ratio
18.6×
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HUD Fair Market Rent, 2 bedrooms
$1,536
Gross rental yield
5.37%
Cap rate (estimate)
3.49%
Market activity
Listings vs a year ago
+21.9%
Days on market
53
Listings with a price cut
31.7%
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Homes for sale
128
Pending sales per 100 listings
40
Asking price per sq ft
$153
People and jobs
Median household income
$76,907
Population change (1 year)
+0.6%
Unemployment rate
3.6%
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Population
45,882
Income adjusted for cost of living
$80,363
Net moves in (IRS)
−10
Cost of living (US = 100)
95.7
Schools, risk and environment
School rating (1 to 10)
6.3
FEMA hazard risk score (0 to 100)
43.4
Unhealthy air days a year
1
Show 4 more
Flood risk score
52.5
Wildfire risk score
4.7
Walkability (1 to 20)
6.0
Road, rail and air noise
54 dB
Questions people ask
Is Shelby County, IN overvalued?
Home prices in Shelby County, IN are well above what local incomes have historically supported: fair value is about $210,188, so the area is 16.4% overvalued.
Is Shelby County, IN a buyer's or seller's market?
Shelby County, IN is a buyer's market: homes take about 53 days to sell, listings are up 22% from a year ago, 32% of listings have had a price cut.
Are home prices going down in Shelby County, IN?
Home values in Shelby County, IN are up 1.1% over the last year. Zillow's forecast for the next 12 months is +1.9%.
How much do you need to earn to buy a home in Shelby County, IN?
A household needs about $53,032 a year to afford the typical home in Shelby County, IN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $76,907.