Is Shelby County, IN good for real estate investing?

Shelby County has an investment score of 62/100, rated as "Buy". The county ranks #272 nationally among 1000 counties analyzed.

What is the rent-to-price ratio in Shelby?

The rent-to-price ratio in Shelby County is 7.09% annually, which ranks in the 79th percentile nationally. Higher ratios indicate better cash flow potential.

What is the median home price in Shelby?

The median home price in Shelby County is $238,948. This ranks #513 in affordability among all US counties.

Can you cash flow on rental properties in Shelby?

Based on median values with 20% down at current rates, a typical rental in Shelby County would generate negative cash flow of $335/month. Individual property performance varies based on purchase price, rent, and operating expenses.

Shelby County

IndianaPopulation: 44,940Indianapolis, IN Metro

/100

Buy

#272 of 1,000 counties

#71 in Indiana (92 counties)

Market Snapshot

$238,948

Median Home Price

2% above national median

$1,412/mo

Median Rent

7% below national median

7.09%

Rent-to-Price Ratio

Top 21% nationally

-$335

Est. Monthly Cash Flow

With 20% down at 6.9% rate

Price History

Historical data from Zillow ZHVI/ZORI

Quick Investment Calculator

Down Payment20%

5%50%100%

Purchase

Purchase Price$238,948

Down Payment (20%)$47,790

Loan Amount$191,158

Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,412

Monthly P&I-$1,253

Est. Expenses (35%)-$494

Net Cash Flow-$335/mo

4.6%

Cap Rate (all cash)

-7.3%

Cash-on-Cash Return

7.09%

Rent-to-Price Ratio

Negative leverage: At 6.85% rates, borrowing costs exceed the 4.6% cap rate. All-cash buyers may see better returns.

* Based on county median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Actual results vary by property.

Run Full Analysis Try House Hack Strategy

Score Breakdown

Overall Investment Score

62/100

Cash Flow(30%)

71/100

Based on 7.09% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)

54/100

Based on 0.4% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)

50/100

Population data not available.

Affordability(20%)

76/100

Price-to-income ratio of 3.6x. Lower ratios indicate more affordable markets.

Scores are calculated using real Zillow home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. Markets with missing rent data use estimated values based on regional averages.

Investment Outlook

Strengths

+Above-average rent-to-price ratio (7.09%)
+Affordable relative to local incomes
+Complete rent data available

Challenges

-Negative cash flow at typical financing (-$335/mo)
-Negative leverage (cap rate 4.6% < mortgage rate 6.9%)

Economic Indicators

Population

44,940

Median Income

$66,449

vs $57,022 national est.

Unemployment Rate

—

Data pending

Price-to-Income

3.6x

Moderately affordable

Compare to Nearby Counties

County					Verdict
FloydIN	63	$277,337	$1,243	5.38%	Buy	View
AllenIN	63	$244,080	$1,163	5.72%	Buy	View
CurrentShelbyIN	62	$238,948	$1,412	7.09%	Buy
BooneIN	62	$408,148	$1,777	5.22%	Buy	View
ElkhartIN	62	$251,649	$1,057	5.04%	Buy	View
PutnamIN	62	$262,023	$1,144	5.24%	Buy	View

The Bottom Line

BuyShelby offers solid investment potential with good cash flow or appreciation prospects.

Shelby County in Indiana scores 62/100, ranking #272 of 1,000 US counties (top 36%). The 7.09% rent-to-price ratio indicates moderate cash flow potential. Current market conditions make traditional buy-and-hold investing challenging. Consider house hacking, value-add strategies, or all-cash purchases.

Monthly Cash Flow

$-335/mo

Cap Rate

4.6%

Cash-on-Cash

-7.3%

Ready to Analyze a Deal in Shelby?

Use our investment calculators to run detailed numbers on specific properties.

Single Family1-4 unit rentals, BRRRR House HackOwner-occupied strategy Multifamily5+ unit properties

Explore Other Markets

Quick Investment Calculator

Down Payment20%

5%50%100%

Purchase

Purchase Price$238,948

Down Payment (20%)$47,790

Loan Amount$191,158

Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,412

Monthly P&I-$1,253

Est. Expenses (35%)-$494

Net Cash Flow-$335/mo

4.6%

Cap Rate (all cash)

-7.3%

Cash-on-Cash Return

7.09%

Rent-to-Price Ratio

Negative leverage: At 6.85% rates, borrowing costs exceed the 4.6% cap rate. All-cash buyers may see better returns.

* Based on county median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Actual results vary by property.

Run Full Analysis Try House Hack Strategy

Score Breakdown

Overall Investment Score

62/100

Cash Flow(30%)

71/100

Based on 7.09% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)

54/100

Based on 0.4% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)

50/100

Population data not available.

Affordability(20%)

76/100

Price-to-income ratio of 3.6x. Lower ratios indicate more affordable markets.

County

Verdict

FloydIN

$277,337

$1,243

5.38%

Buy

View

AllenIN

$244,080

$1,163

5.72%

Buy

View

CurrentShelbyIN

$238,948

$1,412

7.09%

Buy

BooneIN

$408,148

$1,777

5.22%

Buy

View

ElkhartIN

$251,649

$1,057

5.04%

Buy

View

PutnamIN

$262,023

$1,144

5.24%

Buy

View

The Bottom Line

BuyShelby offers solid investment potential with good cash flow or appreciation prospects.

Monthly Cash Flow

$-335/mo

Cap Rate

4.6%

Cash-on-Cash

-7.3%