Shelby, IN housing market
Home prices around Shelby have risen about 43% over the past 5 years.
Home values, sales, trends and how Shelby compares with the towns next door — updated as new data is published.
Home prices up 43% in 5 years
The federal house price index for the ZIP codes around Shelby rose 43% over the past 5 years, slower than across Indiana (53%). Last year prices rose 2.1%.
Show as a table
| Year | Change that year | Since 2000 | Indiana since 2000 |
|---|---|---|---|
| 2025 | +2.1% | +126% | +126% |
| 2024 | +4.9% | +121% | +117% |
| 2023 | +4.8% | +111% | +106% |
| 2022 | +14% | +101% | +90% |
| 2021 | +12% | +77% | +65% |
| 2020 | +3.8% | +58% | +48% |
| 2019 | +5.5% | +52% | +42% |
| 2018 | +5.8% | +44% | +34% |
| 2017 | +2.1% | +36% | +26% |
| 2016 | +1.6% | +33% | +20% |
| 2015 | +5.4% | +31% | +16% |
| 2014 | +1.8% | +24% | +13% |
| 2013 | +2.1% | +22% | +10% |
| 2012 | −1.6% | +20% | +9% |
| 2011 | −4% | +22% | +9.6% |
| 2010 | −1.7% | +27% | +12% |
| 2009 | −3.2% | +29% | +14% |
| 2008 | +1.5% | +33% | +17% |
| 2007 | +2% | +31% | +18% |
| 2006 | +4.5% | +29% | +16% |
| 2005 | +7.4% | +23% | +14% |
| 2004 | +4.8% | +15% | +10% |
| 2003 | +2.2% | +9.3% | +7.8% |
| 2002 | +1.5% | +7% | +6.3% |
| 2001 | +5.4% | +5.4% | +4.3% |
| 2000 | — | — | — |
How Shelby ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 46356, 46377, covering 84% of Shelby’s land, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
Shelby and its neighbors
| Town | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|
| Shelby | +2.1%† | $1,460 | $32,180 |
| Cedar Creek | +2.1%† | $1,460 | $86,780 |
| Lincoln | +6.5%† | $1,170 | $80,953 |
| Eagle Creek | +2.5%† | $1,200 | $99,663 |
† FHFA price index change, where Zillow has no home value for the town.
A two-bedroom rents for about $1,460
HUD's Fair Market Rent for a two-bedroom in Shelby is $1,460 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $1,060 · 4 bedrooms $1,930
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (46356, 46377; Gary, IN HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.