Shelbyville, IN

Very Low · 61

Indiana · Population 19,866 · Updated March 2026

$970
Median Rent / Month
$58,532
Median Income
$151,100
Median Home Value
$960
Owner Costs / Month

Affordability

How far your income goes in Shelbyville

19.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Indiana

State-level tax rates that affect your costs

3.05%
Income Tax (Top Rate)
7.0%
Sales Tax
0.83%
Property Tax Rate

Estimated Annual Costs

$11,640
Annual Rent
$1,785
State Income Tax
$1,254
Property Tax (est.)

Cost of Living Overview

Shelbyville is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 61 (where 100 equals the national median), Shelbyville residents can expect to pay median rent of $970/month while earning a median household income of $58,532/year.

The median home value in Shelbyville, IN is $151,100, with typical monthly owner costs around $960 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Indiana has a moderate income tax rate of 3.05%. Combined with a 7.0% sales tax rate and 0.83% effective property tax rate, the overall tax environment is a factor in the total cost of living in Shelbyville.

Frequently Asked Questions

Common questions about living costs in Shelbyville

What is the cost of living in Shelbyville, IN?
The cost of living index in Shelbyville, IN is 61 (US average = 100). Median monthly rent is $970, median household income is $58,532/year, and the median home value is $151,100.
Is Shelbyville, IN affordable?
Yes, Shelbyville is more affordable than the national average with a cost index of 61. The rent-to-income ratio is 19.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Shelbyville, IN?
The median gross rent in Shelbyville, IN is $970 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,640.
What is the median household income in Shelbyville?
The median household income in Shelbyville, IN is $58,532 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Indiana?
Indiana has a top income tax rate of 3.05%, a sales tax of 7.0%, and an effective property tax rate of 0.83%.