Commercial Real Estate Market in Shelby, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
3 active listings and 86 off-market properties in Shelby, IA.
Market Trends
Shelby, IA spans 63.4 square miles in Shelby County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Shelby, IA runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Shelby, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Shelby, IA runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Shelby, IA runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 42.3%
- Residential 25.5%
- Industrial 18.6%
- Commercial 11.8%
- Mixed use 1.9%
Largest Zones share of zoned land by district
Agriculture Reserve District
General Commercial And Industrial District
Urban Density Residential District
Highway Corridor District
Single Family Residential District
Agriculture Reserve District (AR)
The purpose of AR zone is to provide for the protection and preservation of agricultural land within the incorporated area of the City
Market overview
Demographics & Economy
Shelby, IA has 1,146 residents in 560 households. Density runs 18 people per square mile. Median household income here is $69,286 and median gross rent $872 a month.
1,146
Population
560
Households
2
Avg Household Size
39
Median Age
17%
College-Educated
92%
High-School Grad
63.4 sq mi
ZIP Area
18
Density / Sq Mi
$69,286
Median Household Income
$45,764
Median Earnings
$872
Median Rent
$188,200
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Tennant | — | — |
| Persia | — | — |
| Avoca | — | — |
| Portsmouth | — | — |
Frequently Asked Questions
Where does Realmo's Shelby market data come from?
Realmo compiles Shelby, IA figures from 3 active sale listings, 86 tracked off-market properties, the current Shelby zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 0 active for-lease listings in Shelby, IA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 1,209 zoned acres across 6 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
