Racine, WI Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Racine, WI Housing Market Trends

With a population of 76,760, 30,684 total housing units (homes and apartments), and a median house value of $134,324, 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 ( 19.88%), large apartment complexes or high rise apartments ( 16.84%), and a few row houses and other attached homes ( 3.11%).

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 49.82% owning and 50.18% 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 42.31% of the city's housing hails from this era. Other housing ages represented in Racine include homes built before 1939 ( 37.41%) and housing constructed between 1970-1999 ( 17.35%). There's also some housing in Racine built between 2000 and later ( 2.93%).

Racine Home Appreciation Rates

Real estate appreciation rates in Racine's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.74% during the period.

Appreciation rates are so strong in Racine that despite a nationwide downturn in the housing market, Racine real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Racine appreciation rates continue to be some of the highest in America, at 8.63%, which is higher than appreciation rates in 80.86% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Racine. Racine appreciation rates in the latest quarter were at 1.74%, which equates to an annual appreciation rate of 7.13%.

Relative to Wisconsin, our data show that Racine's latest annual appreciation rate is higher 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:
$134,324

Racine, WI HOME PRICES

> $1,258,000
0.4%
0.4%
$944,001 - $1,258,000
0.4%
0.4%
$629,001 - $944,000
1.2%
1.2%
$503,001 - $629,000
0.9%
0.9%
$378,001 - $503,000
2.9%
2.9%
$252,001 - $378,000
8.7%
8.7%
$126,001 - $252,000
40.7%
40.7%
$63,001 - $126,000
38.1%
38.1%
$0 - $63,000
6.6%
6.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Very Low for WI

Value Relative To Nation

Number Of Homes And Apartments:
30,684

Racine Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WI*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
48.22% 1.87%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,071 / per month

Homeownership Rate

Owners
49.8%
49.8%
Renters
50.2%
50.2%
Vacant
8.6%
8.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
2.9%
2.9%
1970 - 1999
17.3%
17.3%
1940 - 1969
42.3%
42.3%
1939 or Older
37.4%
37.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.1%
59.1%
Townhomes
3.1%
3.1%
Small Apt. Buildings
19.9%
19.9%
Apt. Complexes
16.8%
16.8%
Mobile Homes
0.9%
0.9%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.1%
1.1%
1 Bedroom
12.6%
12.6%
2 Bedrooms
31.3%
31.3%
3 Bedrooms
41.3%
41.3%
4 Bedrooms
10.6%
10.6%
5 or more bedrooms
3.1%
3.1%
0.0% 100.0%
% OF HOMES