Shelbyville, Indiana Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Shelbyville, Indiana rental market.
Shelbyville, Indiana
Average Apartment Rent
$936
Y-o-Y Change in Average
Apartment Rent
-1.7%
As of July 2024
Compared to a year ago, Shelbyville, Indiana apartments have recorded a -1.7% rent decrease.
Shelbyville, Indiana |Average apartment rent trend
Shelbyville, Indiana| Average apartment rent
Shelbyville, Indiana | Apartment rent ranges
At 67.17%, apartments priced $700 - $1000 represent the bulk of Shelbyville, Indiana rentals, while condos priced $500 - $700 hold the lowest share of the market – 7.02%.
Shelbyville, Indiana | Housing tenure**
Renters take up 44% of Shelbyville, Indiana real estate, occupying a total of 3,627 units, while homeowners live in 4,631 properties.
Median number of rooms of renter-occupied housing units**
4.4
Renter median household income**
$44,606
Average household size of renter-occupied housing units**
2.33
Rental vacancy rate**
11.8%
Shelbyville, Indiana | Renter-occupied housing units by no. of bedrooms**
There are 1,569 rentals in Shelbyville, Indiana with 2 beds making up the highest share of the market, at 43%. Units with No bedrooms, on the other hand, hold the lowest percentage (3%), amounting to 107 units. Overall, the median number of rooms in Shelbyville, Indiana homes for rent is 4.4.
Shelbyville, Indiana |Renter-occupied units by age of householder**
Most condos for rent in Shelbyville, Indiana are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 35 - 44 years age group (21%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Shelbyville, Indiana | Renter-occupied housing units by family type**
Shelbyville, Indiana | Renter-occupied housing units by the presence of own children**
A total of 1,776 apartments for rent in Shelbyville, Indiana, or 49% of all rentals are family households. Additionally, 36% of rental homes include children under the age of 18 – that’s 1,298 units. All in all, the median size of a renter-occupied household in Shelbyville, Indiana is 2.33.
Shelbyville, Indiana | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 15% of the rental market. In contrast, residents with less than a high school degree reside in 11% of the homes for rent in Shelbyville, Indiana.
Shelbyville, Indiana | Renter-occupied units by year structure built**
The highest share of Shelbyville, Indiana apartment rentals, namely 19% or 697 units, were Built 1980 - 1989, followed by those Built 1990 - 1999 (18%, 647 units), and the ones Built 1970 - 1979 (17%, 632 units).
Shelbyville, Indiana | Renter-occupied units by year householder moved in**
Median year renter moved into unit2017
Most Shelbyville, Indiana renters (44%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Shelbyville, Indiana condos for rent is 2017.
Shelbyville, Indiana | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 44% of Shelbyville, Indiana renters have 1 vehicle available per household, 36% of them have 2 vehicles available, and 12% have No vehicle available.
Shelbyville, Indiana | Means of transportation to work of householders living in renter-occupied housing units**
Shelbyville, Indiana |Geographical mobility in the past year for householders living in renter-occupied housing units**
Shelbyville, Indiana | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Shelbyville, Indiana apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
