Janesville, WI Housing Market Trends
With 66,102 people, 28,061 houses or apartments, and a median cost of homes of $279,567, Janesville real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Janesville, accounting for 67.23% of the city's housing units. Other types of housing that are prevalent in Janesville include large apartment complexes or high rise apartments ( 14.82%), duplexes, homes converted to apartments or other small apartment buildings ( 9.55%), and a few row houses and other attached homes ( 6.51%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Janesville. Owner-occupied housing accounts for 65.67% of Janesville's homes, and 55.67% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Janesville 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 Janesville built between 1940-1969 ( 32.13%). A lesser amount of the housing stock also hails from before 1939 ( 14.50%). There's also some housing in Janesville built between 2000 and later ( 12.79%).
Janesville Home Appreciation Rates
In the last 10 years, Janesville has experienced some of the highest home appreciation rates of any community in the nation. Janesville real estate appreciated 121.70% over the last ten years, which is an average annual home appreciation rate of 8.29%, putting Janesville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Janesville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Janesville that despite a nationwide downturn in the housing market, Janesville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Janesville appreciation rates continue to be some of the highest in America, at 9.40%, which is higher than appreciation rates in 73.82% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Janesville. Janesville appreciation rates in the latest quarter were at 2.07%, which equates to an annual appreciation rate of 8.54%.
Relative to Wisconsin, our data show that Janesville's latest annual appreciation rate is lower than 60% 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 Janesville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Janesville - 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 Janesville real estate investment or home purchase decisions.
Median Home Value
$279,567
Low
for Wisconsin
Average
for nation
Number of Homes And Apartments:
28,061
WI
America
2024 Q3 - 2024 Q4
2023 Q4 - 2024 Q4
2022 Q4 - 2024 Q4
2019 Q4 - 2024 Q4
2014 Q4 - 2024 Q4
2000 Q1 - 2024 Q4
Average Market Rent:
$1,491 / per month