53511, Beloit, WI

Beloit, WI is located in the southeastern corner of Wisconsin and has a population of just over 30,000. The median home value in Beloit is $151,000 and the median home equity is $111,000. These numbers are slightly higher than the statewide median home value of $147,500 and statewide median home equity of $106,200.

The five-year average growth rate for Beloit homes was 5.5% from 2010 to 2015. This compares favorably to the statewide growth rate of 3.2% during this same time period. The reason for this discrepancy may be due to Beloit’s strong job market and low unemployment rate; both factors are important contributors to housing prices.

There are a number of reasons why homeowners might want to consider increasing their home equity:

1) To provide financial stability in times of economic uncertainty;

2) To use the equity as a down payment on a new or upgraded property;

3) To fund retirement savings or other long-term goals;

4) To use the equity as collateral for a loan; or

5) To take advantage of tax breaks that can be available through increased home values (e.g., depreciation deductions).