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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 a population of 77,542, 29,966 total housing units (homes and apartments), and a median house value of $132,050, 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 59.64% 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 ( 20.91%), large apartment complexes or high rise apartments ( 15.97%), and a few row houses and other attached homes ( 2.72%).
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 52.51% owning and 47.49% 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 42.43% of the city's housing hails from this era. Other housing ages represented in Racine include homes built before 1939 ( 37.33%) and housing constructed between 1970-1999 ( 17.55%). There's also some housing in Racine built between 2000 and later ( 2.68%).
Vacant housing appears to be an issue in Racine. Fully 11.19% 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 -0.08%, which is lower than 80% of US communities.
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 11.38%, which is higher than appreciation rates in 97.33% 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 4.78%, which equates to an annual appreciation rate of 20.53%.
Importantly, NeighborhoodScout’s exclusive research found that Racine's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which 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 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.
| Value Range | |
|---|---|
| > $1,219,000 | 0.1 |
| $914,001 - $1,219,000 | 0.5 |
| $609,001 - $914,000 | 0.9 |
| $488,001 - $609,000 | 0.7 |
| $366,001 - $488,000 | 2.3 |
| $244,001 - $366,000 | 8.9 |
| $122,001 - $244,000 | 41.6 |
| $61,001 - $122,000 | 37.8 |
| $0 - $61,000 | 7.1 |
| Value Relative to Nation | Value Relative to State |
|---|---|
| 65.4248175182482 | 89.1170431211499 |
| Time Period | Total Appreciation | Avg. Annual Rate |
Compared To
WI* |
Compared To
America* |
|---|---|---|---|---|
|
Latest Quarter:
2018 Q3 - 2018 Q4 |
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|
Last 12 Months:
2017 Q4 - 2018 Q4 |
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|
Last 2 Years:
2016 Q4 - 2018 Q4 |
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|
Last 5 Years:
2013 Q4 - 2018 Q4 |
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|
Last 10 Years:
2008 Q4 - 2018 Q4 |
||||
|
Since 2000:
2000 Q1 - 2018 Q4 |
32.19% | 1.46% |
2
|
2
|
| * 10 is highest | ||||
| Homeownership | |
|---|---|
| Owners | 52.51 |
| Renters | 47.49 |
| Vacant | 11.19 |
| AGE OF Racine HOMES | |
|---|---|
| 2000 or Newer | 2.7 |
| 1970 - 1999 | 17.6 |
| 1940 - 1969 | 42.4 |
| 1939 or Older | 37.3 |
| TYPE OF Racine HOMES | |
|---|---|
| Single-Family | 59.6 |
| Townhomes | 2.7 |
| Small Apt. Buildings | 20.9 |
| Apt. Complexes | 16.0 |
| Mobile Homes | 0.8 |
| Other | 0.0 |
| SIZE OF Racine HOMES | |
|---|---|
| No Bedroom | 1.06 |
| 1 Bedroom | 12.90 |
| 2 Bedrooms | 30.82 |
| 3 Bedrooms | 42.65 |
| 4 Bedrooms | 9.61 |
| 5 or more bedrooms | 2.97 |
