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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



South Beloit, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

South Beloit, IL Housing Market Trends

With 7,908 people, 3,234 houses or apartments, and a median cost of homes of $219,854, house prices in South Beloit are solidly below the national average.

Single-family detached homes are the single most common housing type in South Beloit, accounting for 73.86% of the city's housing units. Other types of housing that are prevalent in South Beloit include duplexes, homes converted to apartments or other small apartment buildings ( 8.12%), row houses and other attached homes ( 6.40%), and a few large apartment complexes or high rise apartments ( 6.03%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in South Beloit. Owner-occupied housing accounts for 69.33% of South Beloit's homes, and 57.61% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in South Beloit built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in South Beloit built between 2000 and later ( 30.19%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.20%). There's also some housing in South Beloit built before 1939 ( 11.59%).

South Beloit Home Appreciation Rates

Real estate appreciation rates in South Beloit's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.81% during the period.

Appreciation rates are so strong in South Beloit that despite a nationwide downturn in the housing market, South Beloit real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, South Beloit appreciation rates continue to be some of the highest in America, at 9.01%, which is higher than appreciation rates in 91.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in South Beloit. South Beloit appreciation rates in the latest quarter were at 1.72%, which equates to an annual appreciation rate of 7.07%.

Relative to Illinois, our data show that South Beloit's latest annual appreciation rate is higher than 90% of the other cities and towns in Illinois.

Average Home Values

Median Home Value

$219,854

South Beloit, IL Home Prices
> $1,336,000
$1,002,001 - $1,336,000
$668,001 - $1,002,000
$535,001 - $668,000
$401,001 - $535,000
$267,001 - $401,000
$133,001 - $267,000
$67,001 - $133,000
$0 - $67,000
0.0%
0.0%
1.2%
1.2%
0.5%
0.5%
0.2%
0.2%
1.8%
1.8%
21.1%
21.1%
54.3%
54.3%
12.3%
12.3%
8.6%
8.6%
0% 100.0%
% of Homes
Average

for Illinois

Low

for nation

Number of Homes And Apartments:

3,234

South Beloit Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,336 / per month

Homeownership Rate

Owners
Renters
69.3%
69.3%
30.7%
30.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.9%
5.9%
94.1%
94.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
30.2%
30.2%
38.0%
38.0%
20.2%
20.2%
11.6%
11.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
73.9%
73.9%
6.4%
6.4%
8.1%
8.1%
6.0%
6.0%
5.6%
5.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.0%
1.0%
11.5%
11.5%
25.7%
25.7%
44.5%
44.5%
13.2%
13.2%
4.1%
4.1%
0% 100.0%
% of Homes

Popular Neighborhoods in South Beloit

Zip Codes in South Beloit, IL