Racine, WI—53405
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Racine, WI
As of Oct '25, the median home price in Racine, WI is $219,000, with a year-over-year change of 6.0%. This indicates that home prices in Racine, WI are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $219,000 | 6.0% |
| Single Family | $219,000 | 5.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $183,000 | 6.4% |
3 Bed | $232,000 | 5.9% |
4 Bed | $268,000 | 5.5% |
| 5 Bed | $274,000 | 5.4% |
% of Housing Stock
Rental Trends — Racine, WI
As of July '25, Rentcast reports the average rent in Racine, WI is $1,400, with a year-over-year rent change of 3.7%. Per bedroom, the median rent as of July '25 in Racine, WI is 1-bedrooms: $906, 2-bedrooms: $1,310, 3-bedrooms: $1,800, 4-bedrooms: $2,300. The most common rental property sizes in Racine, WI are 3-bedroom and 2-bedroom, accounting for 34.4% and 33.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,400 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $850 | $906 |
| 2 Bed Rent | $1,200 | $1,310 |
| 3 Bed Rent | $2,000 | $1,800 |
| 4 Bed Rent | $2,300 | $2,300 |
% of Rental Stock
Property Listings — Racine, WI
As of Oct '25, Realtor.com reports that the median days on market for a home in Racine, WI is 27. This is a increase of 6.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $250,000 | 14.0% |
Listing Count | 51 | 1.0% |
| Listings as % of Homes | 0.4% | 1.0% |
Days on Market | 27 | 6.0% |
Demographics — Racine, WI
As of the latest ACS Survey released in 2023, Racine, WI has a population of 27,800, which has increased by 12.0% over the past 5 years. Racine, WI is a moderately popular place for families, as children make up 24.6% of the population. The area has a moderately educated workforce, with 25.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,800 | 12.0% |
% Under 18 | 24.6% | 2.1% |
% Seniors | 16.3% | 12.4% |
% WFH | 6.7% | 168.0% |
% w/ College Degree | 25.9% | 19.4% |
As of the latest ACS Survey released in 2023, Racine, WI is a predominantly white area, with 62.6% of the population identifying as white. The white population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in Racine, WI is hispanic, making up 17.2% of the population. Foreign-born residents account for 4.3% of the population in Racine, WI, and this percentage has increased by 2.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 62.6% | -5.0% |
% Black | 11.9% | -20.7% |
% Hispanic | 17.2% | 19.4% |
% Asian | 1.2% | -7.7% |
% Foreign Born | 4.3% | 2.4% |
Mortgage and Risk — Racine, WI
According to HUD data as of 2023, there were 665 mortgage originations in Racine, WI, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Racine, WI. Investor activity is low, as 3.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 665 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Racine, WI
As of 2024, the percent of homes in Racine, WI under the Section 8 program is 16.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Racine, WI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 421 |
Total Units Section 8 | 414 |
% Rentals under Section 8 | 16.1% |
% Occupied Section 8 | 83.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $850 | $900 |
| 2 Bedroom | -$50 | $1,200 | $1,150 |
| 3 Bedroom | -$510 | $2,000 | $1,490 |
| 4 Bedroom | -$480 | $2,300 | $1,820 |
Affordability — Racine, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $219,000 |
| Median Household Income | $68,300 |