Market Overview
Home Prices in Shelby, MT
The median home value in Shelby, MT is $187,356 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.5% compared to a year ago and up 9.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Shelby are priced54% below average.
Over the past five years, Shelby home values have risen by approximately43.9%, reflecting strong long-term appreciation in this market.
Price History
Shelby Home Price Trend
2020
$124,770
$125K
—
2021
$130,230
$130K
+4.4%
2022
$151,992
$152K
+16.7%
2023
$162,190
$162K
+6.7%
2024
$168,897
$169K
+4.1%
2025
$184,556
$185K
+9.3%
2026
$187,356
$187K
+1.5%
City Comparison
Shelby vs. National Median
🏠 Shelby
$187,356
National Median
$410,000
At $187,356, homes in Shelby cost 54% below the national median of $410,000. This makes Shelby a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Shelby?
20% Down Payment
$37,471
on $187,356
Monthly P&I
$977/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,241/mo
incl. taxes & insurance
Income Needed
$49,640
gross annual (30% rule)
10% Down Option
$18,736
+ PMI applies
Loan Amount (20% dn)
$149,885
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Shelby, MT?
The median home value in Shelby is $187,356 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.5% year-over-year.
How much have home prices changed in Shelby?
Over the past year, home values in Shelby have increased by 1.5%. Over five years, prices have risen approximately 43.9%.
How much do I need to earn to buy a home in Shelby?
To comfortably afford the median home price of $187,356 with a 20% down payment ($37,471) at today's rates (6.8%), you'd need a gross annual income of approximately $49,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Shelby compare to the national average home price?
The national median home value is approximately $410,000. At $187,356, homes in Shelby are 54% below the national average.