Housing in Shelby

A typical Shelby home is worth roughly $183,000

Home prices around Shelby have risen about 61% over the past 5 years.

#24Cheapest rent in MI #69Lowest property tax in MI All MI rankings →

Typical home value

$183K

▲ 12.6% in a year · MI $266K

Estimate

2-bedroom rent

$970

a month, utilities in · HUD

Median tax bill

$1,645

MI $2,904

What kind of housing town is Shelby?

Read from the numbers below. The page puts what stands out first.

Prices climbing fastUp 12.6% in a year.Rent is cheap#24 in MI for the cheapest rent.Low tax bills#69 of 719 in MI for the lowest property tax bills.Your money goes further31% below the Michigan typical home.

★ What stands out · Price trend

Home prices up 61% in 5 years

The federal house price index for the ZIP code around Shelby rose 61% over the past 5 years, faster than across Michigan (52%). Last year prices rose 13%. Carrying the Census median home value forward with that index puts the typical Shelby home at roughly $183,000 today.

Shelby areaMichigan

+13%

past year

+61%

past 5 years

+105%

past 10 years

Estimated value

Carrying the Census median forward with the index puts a typical home at about $183K.

How Shelby ranks on rising home prices →

Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Shelby, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.

Renting

A two-bedroom rents for about $970

Renters already here pay a median of $680, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$690

1 bedroom$740

2 bedrooms$970

3 bedrooms$1,200

4 bedrooms$1,550

35%

of households rent · MI 27%

291

renter households

29%

of renters spend 30%+ of income on rent · MI 50%

23%

of the median income, for a two-bedroom

$680

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Oceana County, MI): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

Affordability

A typical home costs 3.7 years of income

About the same as across Michigan. Try your own numbers below.

You could afford about

$190,000

Typical Shelby home $183K

That covers a typical Shelby home, with $8K to spare.

The typical home, each month

$1,120

Loan $910Tax $160Insurance $50

A two-bedroom rents for about $970 a month here, $150 less than owning.

How Shelby ranks on affordability →

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Shelby’s typical property tax (1.06% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

The homes

65% of Shelby households own their home

Half of Shelby’s homes were built before 1961.

Owners and renters

Own 65%Rent 35%

Michigan: 73% own.

1961

typical home built · MI 1972

$1,645

median property tax bill · MI $2,904

1.06%

of a home’s value, a year in tax · MI 1.25%

U.S. Census Bureau, American Community Survey 2020-2024.

Neighbors talk housing

What Shelby buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Shelby still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

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. The calculator is an estimate, not a loan offer.