South Beloit, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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South Beloit, IL Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

South Beloit Housing Market Information

With 7,680 people, 2,903 houses or apartments, and a median cost of homes of $137,571, 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 70.92% of the city's housing units. Other types of housing that are prevalent in South Beloit include large apartment complexes or high rise apartments ( 10.90%), duplexes, homes converted to apartments or other small apartment buildings ( 7.22%), and a few row houses and other attached homes ( 5.56%).

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 73.57% of South Beloit's homes, and 61.59% 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 ( 34.30%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.58%). There's also some housing in South Beloit built before 1939 ( 13.66%).

South Beloit Home Appreciation Rates

South Beloit's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in South Beloit during the period has been just -1.59%, which is lower than 80% of US communities.

Over the last year, South Beloit appreciation rates have trailed the rest of the nation. In the last twelve months, South Beloit's appreciation rate has been 2.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in South Beloit were at -1.84%, which equates to an annual appreciation rate of -7.16%.

Notably, South Beloit's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that South Beloit's latest annual appreciation rate is higher than 50% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$137,571

South Beloit, IL HOME PRICES

Value Range
> $1,039,000 0.1
$780,001 - $1,039,000 0.0
$520,001 - $780,000 0.4
$416,001 - $520,000 0.1
$312,001 - $416,000 0.3
$208,001 - $312,000 7.1
$104,001 - $208,000 70.9
$52,001 - $104,000 13.1
$0 - $52,000 8.0

Average for IL
Average for Nation

Value Relative to Nation Value Relative to State
55.9709363647018 46.8354430379747

Number Of Homes And Apartments:
2,903

South Beloit Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
9.34% 0.52% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$787 / per month

Homeownership Rate

Homeownership
Owners 73.57
Renters 26.43
Vacant 8.83

Housing Market Details

 

Age of Homes

AGE OF South Beloit HOMES
2000 or Newer 34.3
1970 - 1999 36.5
1940 - 1969 15.6
1939 or Older 13.7

Types of Homes

TYPE OF South Beloit HOMES
Single-Family 70.9
Townhomes 5.6
Small Apt. Buildings 7.2
Apt. Complexes 10.9
Mobile Homes 5.2
Other 0.2

Home Size

SIZE OF South Beloit HOMES
No Bedroom 1.35
1 Bedroom 8.57
2 Bedrooms 28.02
3 Bedrooms 52.39
4 Bedrooms 9.20
5 or more bedrooms 0.47

Popular Neighborhoods in South Beloit

Zip Codes in South Beloit, IL