Janesville-Beloit, WI
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.90×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Wisconsin
- 3.08×-0.18
- vs U.S.
- 3.43×-0.53
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
20.1%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Wisconsin
- 19.4%
- vs U.S.
- 23.3%-3.2
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.50%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Wisconsin
- 3.95%+0.55
- vs U.S.
- 4.35%+0.15
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.22%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Wisconsin
- 0.01%+0.21
- vs U.S.
- 0.03%+0.19
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
2.52
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Wisconsin
- 3.58
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.2%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Wisconsin
- 2.7%
- vs U.S.
- 3.9%-0.7
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+59.8%
homeValues.yearOverYear
+4.4%
Median home value
$215,900
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $955 | $11,460 | 15.4% |
| 2 BR | $1,246 | $14,952 | 20.1% |
| 3 BR | $1,596 | $19,152 | 25.7% |
Labor market direction
Unemployment
3.2%
Median household income
$74,390
What's being built
Total TTM
412
Single-family
324
2–4 unit
64
5+ unit
24
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Rock County | 163,817 | $215,900 | $74,390 | 412 | -0.7% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Janesville | 163,817 | $74,390 | 2.90× | 4.50% | +59.8% | 2.52 | 3.2% |
| Wausau-Weston, WI | 166,222 | $76,185 | — | — | +56.7% | — | 2.7% |
| State College, PA | 158,665 | $72,748 | — | — | +37.3% | — | 2.7% |
| Odessa, TX | 162,300 | $71,031 | — | — | +24.1% | — | 3.5% |
| Oshkosh-Neenah, WI | 171,197 | $72,873 | — | — | +63.8% | — | 2.7% |
| Chambersburg-Waynesboro, PA | 156,084 | $74,946 | — | — | +51.2% | — | 3.1% |
Where people are moving in from
Net migration
+358
+0.22% of population
| Origin county | Tax returns |
|---|---|
| Dane County, WI | 760 |
| Winnebago County, IL | 436 |
| Walworth County, WI | 296 |
| Jefferson County, WI | 167 |
| Green County, WI | 138 |
| Milwaukee County, WI | 110 |
Who lives in Janesville
- Median age
- 40
- Bachelor's+
- 25.7%
- Owner-occupancy
- 70.6%
- Vacancy rate
- 5.7%
- Rent burdened (30%+)
- 40.5%
- Median household income
- $74,390
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.