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
With a population of 36,757, 13,978 total housing units (homes and apartments), and a median house value of $93,510, house prices in Beloit are some of the most affordable in Wisconsin as well as the nation.
Single-family detached homes are the single most common housing type in Beloit, accounting for 70.62% of the city's housing units. Other types of housing that are prevalent in Beloit include large apartment complexes or high rise apartments ( 13.76%), duplexes, homes converted to apartments or other small apartment buildings ( 10.69%), and a few row houses and other attached homes ( 3.94%).
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 55.59% owning and 44.41% 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 40.29% of the city's housing hails from this era. Other housing ages represented in Beloit include homes built before 1939 ( 30.19%) and housing constructed between 1970-1999 ( 19.93%). There's also some housing in Beloit built between 2000 and later ( 9.60%).
Beloit's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Beloit during the period has been just -0.52%, which is lower than 70% of US communities.
Appreciation rates are so strong in Beloit that despite a nationwide downturn in the housing market, Beloit real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Beloit appreciation rates continue to be some of the highest in America, at 7.24%, which is higher than appreciation rates in 78.49% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Beloit. Beloit appreciation rates in the latest quarter were at 2.42%, which equates to an annual appreciation rate of 10.05%.
Importantly, this makes Beloit one of the highest appreciating communities in the nation for the latest quarter, and 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 higher than 80% 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.
|$890,001 - $1,187,000||0.1|
|$593,001 - $890,000||0.2|
|$475,001 - $593,000||0.3|
|$356,001 - $475,000||1.1|
|$237,001 - $356,000||4.3|
|$119,001 - $237,000||25.1|
|$59,001 - $119,000||53.4|
|$0 - $59,000||15.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
2000 Q1 - 2017 Q3
|* 10 is highest|
|AGE OF Beloit HOMES|
|2000 or Newer||9.6|
|1970 - 1999||19.9|
|1940 - 1969||40.3|
|1939 or Older||30.2|
|TYPE OF Beloit HOMES|
|Small Apt. Buildings||10.7|
|SIZE OF Beloit HOMES|
|5 or more bedrooms||2.63|