Shelby, MI Real Estate
According to census data in the year 2000 there were 25,241 housing units in Shelby.
This represents a 43.2% growth from 17,630 in 1990.
Of those housing units, 25,157 were located in either urbanized areas or urban clusters, and 84 were located in what is classified as a rural area.
Homeownership rate in Shelby is about 78.3%.
Shelby's vacancy rate, including seasonal lodging, is about 3.1%.
Average household size is 2.65 people.
The majority of houses, apartments or condos in Shelby were built after 1982.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.40% |
| One Bedroom | 7.10% |
| Two Bedrooms | 27.20% |
| Three Bedrooms | 38.50% |
| Four Bedrooms | 24.90% |
| Five Bedrooms or more | 1.90% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.82 |
| Median year structure was built | 1981 |
| Median Value of occupied units | $195,900 |
| Median Price asked for vacant units | $209,100 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.03 |
| Median year structure was built | 1983 |
| Median Monthly Rent asked for vacant units | $648 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.20% |
| Second Mortgage | 3.10% |
| Home Equity Loan | 15.80% |
| Simple Mortgage | 56.50% |
| Debt Free | 24.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 17.3% |
