Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 77,571 people, 29,850 houses or apartments, and a median cost of homes of $125,769, house prices in Racine are solidly below the national average.
Single-family detached homes are the single most common housing type in Racine, accounting for 59.12% of the city's housing units. Other types of housing that are prevalent in Racine include duplexes, homes converted to apartments or other small apartment buildings ( 21.68%), large apartment complexes or high rise apartments ( 16.13%), and a few row houses and other attached homes ( 2.51%).
The most prevalent building size and type in Racine are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.06% owning and 46.94% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Racine's housing was primarily built during this period, from the '40s through the '60s. A full 41.39% of the city's housing hails from this era. Other housing ages represented in Racine include homes built before 1939 ( 39.07%) and housing constructed between 1970-1999 ( 17.09%). There's also some housing in Racine built between 2000 and later ( 2.45%).
Vacant housing appears to be an issue in Racine. Fully 11.72% of the housing stock is classified as vacant. Left unchecked, vacant Racine homes and apartments can be a drag on the real estate market, holding Racine real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Racine's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Racine during the period has been just -0.59%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Racine's appreciation rate, at 5.30%, has been at or slightly above the national average. In the latest quarter, Racine's appreciation rate has been 3.33%, which annualizes to a rate of 14.02%.
Importantly, this makes Racine one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Wisconsin, our data show that Racine's latest annual appreciation rate is lower than 50% of the other cities and towns in Wisconsin.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Racine differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Racine - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Racine real estate investment or home purchase decisions.
|$891,001 - $1,188,000||0.2|
|$594,001 - $891,000||0.8|
|$475,001 - $594,000||0.7|
|$356,001 - $475,000||2.3|
|$238,001 - $356,000||8.5|
|$119,001 - $238,000||44.0|
|$60,001 - $119,000||36.5|
|$0 - $60,000||6.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
2000 Q1 - 2018 Q3
|* 10 is highest|
|AGE OF Racine HOMES|
|2000 or Newer||2.4|
|1970 - 1999||17.1|
|1940 - 1969||41.4|
|1939 or Older||39.1|
|TYPE OF Racine HOMES|
|Small Apt. Buildings||21.7|
|SIZE OF Racine HOMES|
|5 or more bedrooms||2.80|