Racine, WI—53403
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 $200,000, with a year-over-year change of 2.7%. This indicates that home prices in Racine, WI are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $200,000 | 2.7% |
| Single Family | $199,000 | 3.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $189,000 | 6.8% |
3 Bed | $222,000 | 5.7% |
4 Bed | $260,000 | 4.8% |
| 5 Bed | $223,000 | 3.2% |
% of Housing Stock
Rental Trends — Racine, WI
As of July '25, Rentcast reports the average rent in Racine, WI is $1,210, with a year-over-year rent change of 14.2%. Per bedroom, the median rent as of July '25 in Racine, WI is studios: $1,360, 1-bedrooms: $835, 2-bedrooms: $1,100, 3-bedrooms: $1,380, 4-bedrooms: $1,920. The most common rental property sizes in Racine, WI are 2-bedroom and 1-bedroom, accounting for 52.5% and 22.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,150 | $1,210 |
| Studio Rent | $1,380 | $1,360 |
| 1 Bed Rent | $850 | $835 |
| 2 Bed Rent | $1,000 | $1,100 |
| 3 Bed Rent | $1,300 | $1,380 |
| 4 Bed Rent | $1,400 | $1,920 |
% 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 31. This is a decrease of -10.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $240,000 | 12.0% |
Listing Count | 81 | 43.0% |
| Listings as % of Homes | 0.4% | 43.0% |
Days on Market | 31 | -10.0% |
Demographics — Racine, WI
As of the latest ACS Survey released in 2023, Racine, WI has a population of 26,700, which has increased by 2.0% over the past 5 years. Racine, WI is a popular place for families, as children make up 25.6% of the population. The area has a poorly educated workforce, with 23.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,700 | 2.0% |
% Under 18 | 25.6% | -3.0% |
% Seniors | 13.7% | 13.2% |
% WFH | 9.0% | 221.4% |
% w/ College Degree | 23.0% | 18.6% |
As of the latest ACS Survey released in 2023, Racine, WI is a predominantly white area, with 42.0% of the population identifying as white. The white population has shrunk by 8.7% in the last 5 years. The second most common race or ethnicity in Racine, WI is black, making up 27.4% of the population. Foreign-born residents account for 7.3% of the population in Racine, WI, and this percentage has decreased by 16.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 42.0% | -8.7% |
% Black | 27.4% | 13.7% |
% Hispanic | 24.4% | -7.2% |
% Asian | 0.9% | 28.6% |
% Foreign Born | 7.3% | -16.1% |
Mortgage and Risk — Racine, WI
According to HUD data as of 2023, there were 385 mortgage originations in Racine, WI, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Racine, WI. Investor activity is low, as 5.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 385 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 5.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Racine, WI
As of 2024, the percent of homes in Racine, WI under the Section 8 program is 22.1%. 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. In Racine, WI, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 990 |
Total Units Section 8 | 988 |
% Rentals under Section 8 | 22.1% |
% Occupied Section 8 | 79.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $850 | $970 |
| 2 Bedroom | $270 | $1,000 | $1,270 |
| 3 Bedroom | $360 | $1,300 | $1,660 |
| 4 Bedroom | $480 | $1,400 | $1,880 |
Affordability — Racine, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $200,000 |
| Median Household Income | $58,300 |