Martin Estates Apartments
2301 Raleigh Blvd,
Shelbyville, IN 46176
1-2 Beds | $1,005 - $1,159
Rental Market Trends in Shelbyville, IN
What is the average rent in Shelbyville, IN?
$803/month
Average Rent
670 Sq Ft
Average Apartment Size
+1.9%
Increase in the Last Year
As of June 2025, the average rent in Shelbyville, IN is $803 per month. This is 51% lower than the national average rent of $1,628/month, making renting in Shelbyville more affordable than most cities in the US. When you rent an apartment in Shelbyville, you can expect to pay about per month for a studio, $803 for a one-bedroom apartment, and around $960 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,255 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Shelbyville, IN?
In the past year, rent has increased by 1.9%, which averages out to $16 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated June 2025
Legend
2024
2025
Rent Ranges in Shelbyville, IN
Last Updated June 2025
Below $701
Most rental prices fall within this range
Percentage*
Rent Range
55%
Below $700/month
9%
$700 - $1,000/month
36%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Shelbyville?
Based on current rent prices, Downtown Shelbyville is the most affordable neighborhood in Shelbyville.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Shelbyville?
Based on current rent prices, Downtown Shelbyville is the most expensive neighborhood in Shelbyville.
Neighborhood
Average Rent
Average Sq Ft
Which Shelbyville neighborhoods have the most rentals available?
The neighborhood in Shelbyville with the most apartments available is Downtown Shelbyville .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Shelbyville, IN?
Because the average rent in Shelbyville is $803, you’ll want to make about $2,676 per month or $32,112 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Shelbyville, IN compare to other nearby cities and neighborhoods?
Use the tool below to compare Shelbyville, IN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
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Studio
-
-
One Bedroom
$936/month
$936/month
Two Bedroom
$826/month
$826/month
Three Bedroom
-
-
Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.