Janesville-Beloit, WI Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Janesville-Beloit, WI, Federal Housing Finance Agency (FHFA) house price index (HPI) is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same properties. The index covers single-family homes and condominiums.

The HPI value for Janesville-Beloit was 145.5 in 2020Q1, down 0.2% from 2020Q4 and down 1.8% from its peak of 148.6 in 2019Q3.

On a year-over-year basis, prices were down 2.0% from 2020Q1 to 2021Q1.

The HPI is calculated using data from Fannie Mae and Freddie Mac's mortgage portfolios and covers transactions that they finance. The HPI values are adjusted for seasonal variation using the X-13ARIMA method and for inflation using the consumer price index (CPI).

As of 2021Q1, the Janesville-Beloit metro area had a population of 160,000 people and an unemployment rate of 4%. The median home value in the metro area was $172,000 in 2020, up 3% from 2019 ($167,000).

In terms of home equity, as of 2021Q1 there was $12 billion in outstanding home equity loans in the metro area – this is up slightly from $11 billion in 2020 Q4 but down significantly from $15 billion in 2019 Q3. The average loan-to-value ratio (LTV) was 66%, meaning that on average homeowners had 34% equity stake in their homes.