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Shelby, MI Home Values and Rents
The typical home value in Shelby is $246,965, 279th highest of 442 cities and towns in Michigan. Median rent is $680 a month.
- Typical home value
- $246,965
- 279th of 442 in MI
- Median rent
- $680/mo
- ACS 2020-2024
- Price change, 1 year
- +8.5%
- Sep 2026
- Homeownership
- 64.8%
- MI: 73.2%
Typical home value in Shelby
Zillow Home Value Index, all homes, middle tier
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| Period | Shelby |
|---|---|
| Sep 2026 | $246,965 |
| Dec 2025 | $236,099 |
| Dec 2024 | $228,973 |
| Dec 2023 | $224,065 |
| Dec 2022 | $222,153 |
| Dec 2021 | $206,899 |
| Dec 2020 | $169,849 |
| Dec 2019 | $155,314 |
| Dec 2018 | $145,956 |
| Dec 2017 | $140,231 |
| Dec 2016 | $127,122 |
| Dec 2015 | $124,012 |
| Dec 2014 | $122,395 |
| Dec 2013 | $121,792 |
| Dec 2012 | $114,057 |
Over five years, Shelby prices changed +22.0%.
Source: Zillow Research · Last updated 09/01/2026
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Home values by ZIP code
Median home value and rent (ACS 2020-2024); price changes from the FHFA annual ZIP index
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| # | ZIP code | Median value | Median rent | 1-year | 5-year |
|---|---|---|---|---|---|
| 1 | 49455 | $177,900 | $694 | +12.6% | +61.4% |
Fair Market Rents, FY2027
HUD rent standard for Oceana County, MI
| Unit size | Monthly rent | vs FY2026 |
|---|---|---|
| Studio | $723 | +4.9% |
| 1 bedroom | $775 | +4.4% |
| 2 bedrooms | $1,014 | +4.2% |
| 3 bedrooms | $1,217 | +1.4% |
| 4 bedrooms | $1,595 | +2.9% |
Frequently asked questions
- What is the typical home value in Shelby, MI?
- The typical home value in Shelby is $246,965 (Zillow Home Value Index, Sep 2026). The Michigan median is $231,600.
- How much is rent in Shelby?
- The median rent in Shelby is $680 a month, including utilities paid by the renter. HUD's FY2027 Fair Market Rent for a two-bedroom unit is $1,014.
- Are home prices going up in Shelby?
- The typical home value in Shelby changed +8.5% over one year and +22.0% over five years, as of Sep 2026.
- How does Shelby compare with the rest of Michigan?
- Shelby has the 279th highest median home value of 442 cities and towns with 1,000+ residents in Michigan.
- Which ZIP code in Shelby has the highest home values?
- ZIP code 49455 has the highest median home value at $177,900.