1st Advantage MortgageJanesville, WI DSCR loans work like they do elsewhere: the lender divides the property's rent by its full monthly payment. The local inputs are a median gross rent of $1,054, median real estate taxes of $3,736 and a renter share of 33%.
Janesville by the Census numbers
Median gross rent in Janesville: $1,054, close to the Wisconsin median of $1,087. Median owner-occupied home value: $223,400, about 16% below the Wisconsin median of $266,500. Those are citywide medians, so an individual address can sit well on either side of them. The gross rent-to-value ratio for Janesville works out to 5.7% (twelve months of median rent divided by median value), a middle-of-the-road gross ratio. The figure combines all rental types with all owner-occupied homes, so it is a screening number and not an appraisal.
| Indicator | Wisconsin | Janesville | Difference |
|---|---|---|---|
| Persons per household | 2.33 | 2.30 | |
| Share in 2-4 unit buildings | 9.4% | 8.0% | -14% |
| Share of homes detached | 66.2% | 67.8% | +2% |
| Long commuters, 45 min plus | 10.2% | 12.5% | +23% |
| Degree holders, age 25+ | 33.4% | 27.3% | -18% |
| Workers on their own account | 8.5% | 5.9% | -30% |
| Renters paying 30%+ of income | 43.7% | 41.8% | -4% |
| Units sitting vacant | 10.8% | 3.4% | -68% |
| Households that rent | 32.2% | 32.7% | +2% |
| Tax as a share of home value | 1.42% | 1.67% | +18% |
| Annual property tax bill, median | $3,792 | $3,736 | -1% |
| Household income, median | $77,485 | $73,446 | -5% |
| Typical owner-occupied value | $266,500 | $223,400 | -16% |
| Typical monthly rent | $1,087 | $1,054 | -3% |
| Residents (Census estimate) | 5,914,872 | 66,030 |
With 32.7% renters (close to the Wisconsin median of 32%), Janesville has a thinner rental market, so landlords lean on location, schools and condition to keep units leased. Incomes matter for rent growth: the median household earns $73,446, close to the Wisconsin median of $77,485, and 42% of renters are already cost-burdened at 30 percent of income or more.
Homes, buildings and vacancies in Janesville
Janesville is dominated by detached homes (68% of units), which keeps most rental income tied to house comparables and puts maintenance squarely on the owner. Homes here date to 1972 at the median, which is old enough to need system replacement but modern enough to avoid the worst surprises.
The Census counts 3% of Janesville housing units as vacant, with a rental vacancy figure of 2.4%.
Underwriting angles in Janesville
With a 5.7% rent-to-value ratio, Janesville deals tend to work when the buyer controls the price and carrying costs, and struggle when either runs above the median. Median build year 1972 puts the typical Janesville rental in its second set of major systems. With renters at 33% of households, plan for a longer marketing period and a smaller tenant pool than in a renter-heavy city.
Carrying costs in Janesville
In Janesville the median tax bill for an owner-occupied home is $3,736, or about 1.67% of value (Wisconsin overall: 1.42%). That bill is close to the Wisconsin median of $3,792. At the median rent that tax bill takes roughly 30% of a year's rent before insurance, dues or interest.
For hazards, FEMA's National Risk Index puts Rock County at a relatively moderate overall rating, and its top-ranked hazards are hail (relatively high), tornadoes (relatively high) and cold waves (relatively high).
| Hazard in Rock County, FEMA index | Level |
|---|---|
| Strong wind exposure | Relatively High |
| Cold waves exposure | Relatively High |
| Tornadoes exposure | Relatively High |
| Hail exposure | Relatively High |
| Social vulnerability score | Very Low |
| Annualized loss estimate | Relatively Moderate |
| Composite risk | Relatively Moderate |
A Janesville landlord policy is priced on roof, age, wiring and location, and the annual premium divided by twelve lands in the payment the lender tests.
Rent math for Janesville buyers
For a rough fit test, treat $1,054 as the rent and $311 as the monthly tax. The payment cannot exceed $1,054 at a 1.00 ratio, so $743 is left after taxes for interest, principal, insurance and any association dues, shrinking to $532 if the lender wants 1.25.
Rental rules for Janesville, WI
For Janesville, treat local rental rules as an open question to close before you offer. Ask the city and Rock County about landlord registration, inspections and short-term rental permits, and check association documents too. For Janesville short-term hosts, one state-level point stands out. Wisconsin taxes short-term lodging of under a month, requires a marketplace that processes the guest's payment to collect state sales tax, and leaves municipal room taxes to be filed with each taxing municipality.
The return clock runs 21 days from move-out in Wisconsin, so Janesville landlords should keep move-in photos and repair receipts.
Janesville compared with nearby markets
Looking across the table, values run from $184,000 (Milwaukee) up to $372,900 (Madison), and Janesville lands at $223,400.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Milwaukee | 58% | $3,668 | $184,000 | 566,973 | $1,059 |
| Kenosha | 41% | $3,839 | $225,200 | 99,372 | $1,186 |
| Waukesha | 41% | $4,511 | $315,500 | 71,233 | $1,219 |
| Madison | 54% | $6,541 | $372,900 | 278,001 | $1,413 |
| Janesville | 33% | $3,736 | $223,400 | 66,030 | $1,054 |
What fills Janesville rentals
Self-employed workers, incorporated or not, make up 5.9% of employed residents, a group that often has irregular tax-return income and a natural fit with rent-based qualification. Looking at who fills the rentals, government workers are about 13% of employment, 27% of adults hold a bachelor's degree or higher and 12% of commuters travel 45 minutes or more.
Higher education in and around Janesville includes University of Wisconsin-Rock County, University of Wisconsin System, Blackhawk Technical College and Upper Iowa University, which feeds demand for student, staff and faculty housing near campus. On the logistics side, air service through Chicago O'Hare Airport and Southern Wisconsin Regional Airport are noted for Janesville.
Taking a Janesville deal to a lender
Before you offer on a Janesville property, test the ratio in the calculator, then apply now or request a DSCR quote.
More Wisconsin markets
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Source links
- Wisconsin DOR Publication 219
- Census ACS profile behind the Janesville figures
- FEMA hazard ratings for Rock County
- Janesville on Wikipedia
- Text of Wis. Stat. 704.28; Wis. Admin. Code ATCP 134.06 for Janesville landlords
Numbers for Janesville come from the Census Bureau's 2020 to 2024 ACS and are survey estimates. Landlord rules for Janesville rest on Wisconsin statutes and the CC BY 4.0 RedFlagLease dataset. Our check date is October 2026, so look for newer Janesville rules before you commit.
Pre-offer checklist
On a Janesville purchase, line up the lease, the tax estimate, the insurance quote and any association dues before the appraisal is ordered, and ask the appraiser's office what rent comparables they plan to use.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
Which rent counts when I finance a Janesville property?
The property's own rent evidence decides: a lease, or the market rent from the appraisal. Citywide, Janesville renters report a median of $1,054.
What payment can a Janesville rent support?
The denominator is the whole housing payment. Using Janesville's median rent of $1,054, a ratio of 1.25 allows $843, and a ratio of 1.00 allows all $1,054.
How much real estate tax do Janesville homeowners pay a year?
The Census reports a median of $3,736 a year for Janesville owners, about 1.67% of median value against 1.42% for Wisconsin. The county reassesses after a sale, so ask the tax office for an estimate on your purchase price.
What about VRBO or Airbnb income on a Janesville purchase?
Often, with conditions: legal use under city and association rules, documented income and an insurance policy that covers guests. Janesville owners should check all three first.
Are there deposit limits for Janesville rentals?
Start with Wis. Stat. 704.28; Wis. Admin. Code ATCP 134.06. Return window: 21 days. Talk to a Wisconsin attorney for a lease form that matches.
How exposed is Janesville to natural hazards?
FEMA's index puts the county at relatively moderate overall. A lender cares about the premium and any flood requirement, which are address-specific in Janesville.
Can I close a Janesville DSCR loan in an LLC?
You do not need one, and many investors close in an entity. If you use an LLC, the lender asks for formation documents and usually a personal guaranty. Talk to your attorney and accountant about structure for a Wisconsin property.