Shelby County, Kentucky Housing Market
In Shelby County, Kentucky, the median home value is $304,800, with a median monthly rent of $1,033. This places Shelby County at #603 nationally out of 3134 counties by median home value, and #3 within Kentucky.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,162
- Establishments: 1,587
- BLS QCEW, 2025
Housing Supply
- Single-family: 269
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 19,176 (avg $87,308)
- Outflow: 18,041 (avg $87,548)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 3 active ZIP codes in Shelby County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 40067 | 234.9 | +9.04% | 2025 |
| 2 | 40022 | 263.8 | — | 2025 |
| 3 | 40065 | 227.0 | +2.17% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Shelby County Compares
| Metric | Shelby County | Kentucky Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $304,800 | $160,835 | $227,706 |
| Median Gross Rent | $1,033 | $793 | $968 |
| Owner Occupancy Rate | 73.9% | 73.4% | 73.3% |
| Price/Rent Ratio | 24.6 | 16.6 | 18.7 |
Market Analysis
The median home value in Shelby County is 89.5% above the Kentucky state average and 33.9% above the U.S. national average. The median rent of $1,033/month is 30.3% above the state average.
With a price-to-rent ratio of 24.6, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Shelby County has an owner-occupancy rate of 73.9%, compared to 73.4% in Kentucky and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Wise County | Texas | $304,900 | $1,299 |
| Lamoille County | Vermont | $304,700 | $1,160 |
| Montgomery County | Virginia | $304,600 | $1,240 |
| Guadalupe County | Texas | $304,400 | $1,517 |
| Columbia County | Georgia | $305,300 | $1,409 |
Other Counties in Kentucky
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Woodford County | $299,700 | $1,138 | 71.7% |
| Fayette County | $293,500 | $1,164 | 53.8% |
| Scott County | $288,500 | $1,247 | 71.7% |
| Spencer County | $330,000 | $987 | 87.9% |
| Boone County | $277,300 | $1,373 | 76.3% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).