Racine, WI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Racine Neighborhoods Since 2000




Racine, WI Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Racine Housing Market Information

With 77,742 people, 29,851 houses or apartments, and a median cost of homes of $108,249, 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 58.58% 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 ( 22.03%), large apartment complexes or high rise apartments ( 16.61%), and a few row houses and other attached homes ( 2.35%).

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 54.21% owning and 45.79% 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 39.95% of the city's housing hails from this era. Other housing ages represented in Racine include homes built before 1939 ( 39.59%) and housing constructed between 1970-1999 ( 17.98%). There's also some housing in Racine built between 2000 and later ( 2.47%).

Vacant housing appears to be an issue in Racine. Fully 11.88% 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 Home Appreciation Rates

Homes have actually lost value in Racine over the last then years, as home values have seen a decline of 24.78% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Racine home appreciation rates at -0.83%, which equates to an annual appreciation rate of -3.29%.

Over the last year, Racine appreciation rates have trailed the rest of the nation. In the last twelve months, Racine's appreciation rate has been -1.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Racine were at -0.83%, which equates to an annual appreciation rate of -3.29%.

Notably, Racine's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Wisconsin, our data show that Racine's latest annual appreciation rate is lower than 90% 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.

Average Home Values

 

Median Home Value:
$108,249

Racine, WI HOME PRICES

Value Range
> $1,024,000 0.3
$768,001 - $1,024,000 0.1
$512,001 - $768,000 0.7
$410,001 - $512,000 0.6
$307,001 - $410,000 2.4
$205,001 - $307,000 9.3
$102,001 - $205,000 45.7
$51,001 - $102,000 35.1
$0 - $51,000 5.8

Very Low for WI
Low for Nation

Value Relative to Nation Value Relative to State
72.4364232977851 96.3039014373717

Number Of Homes And Apartments:
29,851

Racine Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
7.54% 0.42% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$867 / per month

Homeownership Rate

Homeownership
Owners 54.21
Renters 45.79
Vacant 11.88

Housing Market Details

 

Age of Homes

AGE OF Racine HOMES
2000 or Newer 2.5
1970 - 1999 18.0
1940 - 1969 40.0
1939 or Older 39.6

Types of Homes

TYPE OF Racine HOMES
Single-Family 58.6
Townhomes 2.4
Small Apt. Buildings 22.0
Apt. Complexes 16.6
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Racine HOMES
No Bedroom 1.17
1 Bedroom 12.84
2 Bedrooms 31.81
3 Bedrooms 42.34
4 Bedrooms 9.24
5 or more bedrooms 2.60