Racine, Wisconsin Housing Market Prices
Racine Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 34% below the Wisconsin median$112,679
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Median rent 7% below the Wisconsin median$1,011
Housing Market Overview
| Metric | Racine | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,679 | $170,479 | $248,835 |
| Price Trend (Annual %) | 5.2% | 4.2% | 7.5% |
| Median Gross Rent | $1,011 | $1,087 | $1,407 |
| Rent Trend (Annual %) | 3.3% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Racine is about 34% lower than in Wisconsin. Rent is about 7% lower than the Wisconsin average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Racine, up about 5.2% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Racine rose about 34.6% between 2015 and 2024, from $751 to $1,011. Over the same span, rent in Wisconsin rose about 40.2%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Racine.
Buying the median-priced home in Racine costs roughly 9.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Racine. The price-to-rent ratio in Wisconsin is about 13.1.
| Metric | Racine | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,679 | $170,479 | $248,835 |
| Median Household Income | $60,509 | $77,698 | $80,455 |
| Price-to-Income Ratio | 1.9 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Racine fell about 14.4%, while median household income rose about 36.5% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Racine | Wisconsin Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.0% | 60.5% | 58.5% |
| Rental Rate | 33.8% | 28.7% | 31.2% |
| Vacancy Rate | 7.2% | 10.8% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Racine has a homeownership rate of 59.0%, lower than the Wisconsin average of 60.5%. Its housing vacancy rate is 7.2%, compared with 10.8% in Wisconsin.
Housing Stock
| Metric | Racine | Wisconsin Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.33 people | 2.53 people |
| Median Structure Built Year | 1954 | 1974 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Racine was built around 1954. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Racine, Wisconsin.
What is the median home price in Racine, Wisconsin?
The median home price in Racine, Wisconsin is $112,679, lower than the Wisconsin average of $170,479.
What is the average home price in Racine, Wisconsin?
The typical home price in Racine, Wisconsin, reported as the median sale price, is $112,679. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Racine, Wisconsin?
The median gross rent in Racine, Wisconsin is $1,011 per month, lower than the Wisconsin average of $1,087.
What was the median gross rent in Racine in 2020?
In 2020, the median gross rent in Racine, Wisconsin was $847 per month.
What is the price-to-rent ratio in Racine, Wisconsin?
The price-to-rent ratio in Racine, Wisconsin is about 9.3, meaning it would take roughly 9.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Racine.
Are home prices or rent rising faster in Racine, Wisconsin?
Both home prices and rent are rising in Racine, up about 5.2% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Racine, Wisconsin?
59.0% of households in Racine, Wisconsin own their home, lower than the Wisconsin average of 60.5%.
What is the vacancy rate in Racine, Wisconsin?
The housing vacancy rate in Racine, Wisconsin is 7.2%, lower than the Wisconsin average of 10.8%.
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