Beloit has the 835th largest population in the United States. The population shrank by 0.3% from 2010 to 2015, which was slower than the national average. Beloit is part of the Janesville metro area. Unemployment in the Janesville area is 4%, which is lower than the national average, and is getting better. Janesville has the 266th largest local economy in the US, and a low cost of living. The average pay for jobs in Beloit is below average at $41,140, and the median cost of a home in Beloit is $85,500, which is below the national average. 15% of workers in Beloit hold a bachelors degree or higher (above average), and 80% of workers have a high school degree (above average). Driving to work is especially common in Beloit. 80% of Beloit workers drive to work alone, 0% take public transit, 10% carpool, and 8% walk. People in Beloit spend an average of 22 minutes commuting to work, which is shorter than the national average of 26 minutes.