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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 7,624 people, 3,003 houses or apartments, and a median cost of homes of $151,138, 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 73.80% of the city's housing units. Other types of housing that are prevalent in South Beloit include row houses and other attached homes ( 9.72%), large apartment complexes or high rise apartments ( 7.29%), and a few mobile homes or trailers ( 5.67%).

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 72.35% of South Beloit's homes, and 58.46% 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 ( 30.10%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.13%). There's also some housing in South Beloit built before 1939 ( 11.40%).

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 1.13%, 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 3.47%, 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 2.76%, which equates to an annual appreciation rate of 11.49%.

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

Average Home Values

 

Median Home Value:
$151,138

South Beloit, IL HOME PRICES

> $1,114,000
0.0%
0.0%
$835,001 - $1,114,000
0.1%
0.1%
$557,001 - $835,000
1.1%
1.1%
$445,001 - $557,000
0.1%
0.1%
$334,001 - $445,000
0.6%
0.6%
$223,001 - $334,000
11.1%
11.1%
$111,001 - $223,000
66.4%
66.4%
$56,001 - $111,000
16.2%
16.2%
$0 - $56,000
4.3%
4.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for IL

Value Relative To Nation

Number Of Homes And Apartments:
3,003

South Beloit Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
29.50% 1.24%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$872 / per month

Homeownership Rate

Owners
72.4%
72.4%
Renters
27.6%
27.6%
Vacant
9.9%
9.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
30.1%
30.1%
1970 - 1999
43.4%
43.4%
1940 - 1969
15.1%
15.1%
1939 or Older
11.4%
11.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
73.8%
73.8%
Townhomes
9.7%
9.7%
Small Apt. Buildings
3.5%
3.5%
Apt. Complexes
7.3%
7.3%
Mobile Homes
5.7%
5.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.8%
3.8%
1 Bedroom
7.8%
7.8%
2 Bedrooms
29.3%
29.3%
3 Bedrooms
45.9%
45.9%
4 Bedrooms
12.6%
12.6%
5 or more bedrooms
0.6%
0.6%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in South Beloit

Zip Codes in South Beloit, IL