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Studio Apartments for Rent in Shelbyville, IN

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    Starting at $944 Per Month

    • Studio - 3 Beds

    425 N Harrison St, Shelbyville, IN 46176

    The Mill is a brand-new affordable* apartment community in Shelbyville, Indiana where modern living meets small-town charm. Our stylishly designed studio, one, two, and three bedroom apartment homes feature spacious kitchens with electric appliances, plenty of room to entertain, large closets, and washer and dryer connections. Step outside your door and you'll find a 24-hour fitness center,

    The Mill

    425 N Harrison St, Shelbyville, IN 46176
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    Call for Price

    • Studio - 1 Bed

    102 E Franklin St, Shelbyville, IN 46176

    Are you an older adult, on a fixed income, looking for affordable housing? Charles Major Manor may just be the perfect place for you! Located in the heart of Shelbyville, Indiana, Charles Major Manor offers lots of amenities and is in walking distance of shopping, churches, restaurants, the public library, and so much more! Transportation available, by appointment only. The community also offers

    Charles Major Manor Affordable Senior Housing

    102 E Franklin St, Shelbyville, IN 46176

Why Live in Shelbyville

Shelbyville, IN, is a small city with a population of over 25,000, characterized by its close-knit community and rural charm. Located less than 35 miles from Indianapolis, Shelbyville offers a variety of custom-built homes ranging from the 1960s to the early 2000s, including Arts and Crafts-style, bungalows, and ranch-style architecture. The city is served by Shelbyville Central Schools, which are highly rated. For recreation, Blue River Memorial Park provides over 180 acres of green space, walking trails, a butterfly habitat, and a dog park. Other parks like Kennedy, Sunrise, Sunset, and Morrison Park offer smaller-scale outdoor options. The Shelby County YMCA offers indoor activities such as pickleball, group fitness classes, and swimming. For entertainment, the Skyline Drive-In features movies, an arcade, and a café. Shopping needs are met by local stores like Kroger and Walmart, with larger retail options available at Greenwood Park Mall, 25 miles away. Dining includes local favorites like Grandma’s Pancake House and Pudder’s, while nightlife can be enjoyed at Capone’s Downtown Speakeasy and Willie Farkle’s. The city hosts events like First Fridays and a Christmas Parade, fostering community spirit. Travel to Indianapolis is convenient via multiple ramps to Interstate 74, and the Indianapolis International Airport is about 40 miles away.

Frequently Asked Questions

How much does it cost to rent a home in Shelbyville, IN?
The median rent for a home in Shelbyville, IN is $775 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Shelbyville, IN?
To comfortably afford the median rent in Shelbyville, IN, a household needs to earn roughly $31,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $775 per month in Shelbyville, IN, renters typically need to show $2,325 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Shelbyville, IN?
In Shelbyville, IN, the price-to-rent ratio is 28.3, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Shelbyville, IN are best for renting a home?
The best neighborhood for renting in Shelbyville, IN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Fountain Square and Martindale-Brightwood, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
2
Median Rent
$775
Median Single Family Home Rent
$1,350
Median Townhouse Rent
$895
Median Condo Rent
$750
How to Rent a Home