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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 36,609, 13,753 total housing units (homes and apartments), and a median house value of $157,462, house prices in Beloit are solidly below the national average.
Single-family detached homes are the single most common housing type in Beloit, accounting for 70.92% of the city's housing units. Other types of housing that are prevalent in Beloit include large apartment complexes or high rise apartments ( 13.38%), duplexes, homes converted to apartments or other small apartment buildings ( 11.26%), and a few row houses and other attached homes ( 3.72%).
The most prevalent building size and type in Beloit are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.49% owning and 44.51% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Beloit's housing was primarily built during this period, from the '40s through the '60s. A full 42.21% of the city's housing hails from this era. Other housing ages represented in Beloit include homes built before 1939 ( 26.12%) and housing constructed between 1970-1999 ( 22.30%). There's also some housing in Beloit built between 2000 and later ( 9.36%).
Appreciation rates for homes in Beloit have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 84.79%, which ranks in the top 40% nationwide. This equates to an annual average Beloit house appreciation rate of 6.33%.
Over the last year, Beloit appreciation rates have trailed the rest of the nation. In the last twelve months, Beloit's appreciation rate has been 11.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Beloit were at 8.22%, which equates to an annual appreciation rate of 37.18%.
Importantly, NeighborhoodScout’s exclusive research found that Beloit's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Wisconsin, our data show that Beloit's latest annual appreciation rate is lower than 90% of the other cities and towns in Wisconsin.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Beloit differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Beloit - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Beloit real estate investment or home purchase decisions.
Low for Nation
Very Low for WI