Beloit, Wisconsin Income Statistics
Beloit Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
D
Beloit Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Beloit | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Household Income | $61,429 | $77,698 | $80,455 |
| Median Personal Income | $45,119 | $59,261 | $60,758 |
| Average Yearly Income Growth | 7.0% | 4.4% | 4.8% |
| Six-Figure Earners | 4.7% | 11.4% | 13.9% |
| $200k+ Households | 4.4% | 9.2% | 13.2% |
The median household income in Beloit is about 21% lower than in Wisconsin. Income has been growing faster in Beloit (7.0%/yr) than in Wisconsin (4.4%/yr).
About 5% of adults in Beloit earn six figures ($100,000 or more) a year, lower than the Wisconsin average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Beloit, Wisconsin grew by 74.4% from 2009 to 2024, reaching $61,429 in 2024. That's an average of about 7.0% per year.
Income Inequality and the Gender Pay Gap in Beloit
| Metric | Beloit | Wisconsin Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.513 | 0.503 | 0.552 |
| Male Median Income | $51,424 | $67,892 | $69,667 |
| Female Median Income | $43,692 | $54,788 | $56,850 |
| Gender Pay Gap | 15.0% | 19.3% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Beloit, it is 0.513, higher than Wisconsin's 0.503, so income is less evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 18% more than women's income in Beloit, Wisconsin. Over a 35-year career, a 18% wage gap accumulates to roughly $270,620 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Beloit, Wisconsin has narrowed from about 23% to 15% in 2024. Over that period the gap was widest at 26% in 2012. In dollar terms, the gap has narrowed by $1,720 since 2009.
Employment
| Metric | Beloit | Wisconsin Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.5% | 3.2% | 5.2% |
| Working from Home | 6.8% | 13.1% | 15.0% |
| Commute time (minutes) | 17 | 18 | 22 |
Approximately 866 people are unemployed in Beloit, Wisconsin.
The average commute time in Beloit is 17 minutes, shorter than the 18 minutes in Wisconsin.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Beloit, Wisconsin has fallen from 14.8% to 5.5% in 2024. Over that period the rate peaked at 15.9% in 2013.
Conclusion
Considering all these factors, Beloit, Wisconsin has an overall wealth index grade of D, making it somewhat worse than Wisconsin, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Beloit, Wisconsin.
How Rich Is Beloit, Wisconsin?
Beloit has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $61,429, about 21% lower than the Wisconsin average of $77,698.
Are incomes growing in Beloit, Wisconsin?
Between 2009 and 2024, the median household income in Beloit, Wisconsin rose 74%, from $35,231 to $61,429. Over the same years, income here outpaced Wisconsin as a whole: +74% against +50%.
What was the median household income in Beloit in 2023?
In 2023, the median household income in Beloit, Wisconsin was $58,429, up 3% from $56,641 in 2022. The Wisconsin median that year was $75,781.
What was the median household income in Beloit in 2020?
In 2020, the median household income in Beloit, Wisconsin was $45,699. By 2024 it had risen 34% to $61,429.
Is unemployment high in Beloit, Wisconsin?
Unemployment in Beloit, Wisconsin is 5.5%, well above the Wisconsin rate of 3.2%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Beloit, Wisconsin?
The Gini coefficient in Beloit is 0.513. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Beloit, Wisconsin?
Since 2009, the income gap between men and women in Beloit, Wisconsin has narrowed from about 23% to 15% in 2024. Over that period the gap was widest at 26% in 2012. In dollar terms, the gap has narrowed by $1,720 since 2009.
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