The city of Shelbyville, Indiana is approximately 28 miles from downtown Indianapolis. It is home to various businesses, industries, and recreational activities and has a population of 20,067 people.
Shelbyville is located in Addison Township and Shelby County. Industries located in the city are growing and bringing job opportunities in fields like automobile, insulation, and agriculture. Inside the city, you will find a lot of history dating back to when it was founded in 1822.
The historic city is also known for art and culture.
It is home to several museums, parks, and scenic trails including Sunset Park and Indianapolis Museum of Art.
In 1834, the first railroad connected the city to Indianapolis bringing more opportunities, people, and resources into the city. Currently, industries that are within the city are automobile, metal, insulation, and plastic manufacturers. It is also an agricultural trade center for the state’s corn belt.
Today, it is ranked #29 out of 43 for the best suburbs to live in in the Indianapolis area, #64 out of 115 for suburb with the best public schools in Indiana, and #20 out of 115 for the suburb with the lowest cost of living in the state according to Niche.
The median age was 36.2 as of 2019. When it comes to living in Shelbyville, the average rental amount is $795, and the median home value is around $102,100.
The average household income is $64,292 with a rental rate of 44%.
If small towns aren’t on your list of investment opportunities, Shelbyville might change your mind!
Lower prices and costs bring more chances of increasing your cash flow and appreciation. Not to mention, the opportunities the diversity, culture, and closeness to downtown Indianapolis will bring to your properties.
The quiet, small town is continuing to expand with the growth of downtown Indianapolis bringing more people into this historic city which means more growth in the real estate market.
T&H Realty is working with Owner Clients to add Shelbyville rental properties to their portfolios. If you are interested in finding properties in that area, our brokerage would be more than happy to help you purchase a property.