Racine Wisconsin Residential Rent and Rental Statistics
The median monthly gross residential rent in Racine, WI (the Racine metro area) was $833 in 2019 according to the Census ACS survey.1 Average gross rent in Racine was $848 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Racine median and average rent data will be released in September of 2021.
Data is also available below for Racine rental vacancy rates, Racine rent as a percent of median income and the fraction of renters in Racine.
Real Gross Rent in Racine Wisconsin (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Wisconsin Median Gross Rent | $867 | +0.58% | +3.21% |
| Racine, WI Median Gross Rent | $833 | -3.36% | -4.25% |
Racine, WI Real Gross Rent Trends
Median gross rent for Racine peaked in real terms in 2016 at $870 and is now $37 (4.25%) lower. Average gross rent for Racine peaked in real terms in 2017 at $891 and is now $43 (4.83%) lower.
Real Gross Rent in Racine: Racine WI Median, Racine WI Average, Wisconsin Median, US Median
Real Gross Rent History for Racine
| Date | US Median |
Wisconsin Median |
Racine, WI Median |
Racine, WI Average |
|---|---|---|---|---|
| 2019 | $1,097 | $867 | $833 | $848 |
| 2018 | $1,077 | $862 | $862 | $884 |
| 2017 | $1,043 | $844 | $851 | $891 |
| 2016 | $1,027 | $840 | $870 | $860 |
| 2015 | $1,017 | $840 | $849 | $888 |
| 2014 | $986 | $826 | $851 | $814 |
| 2013 | $953 | $798 | $812 | $785 |
| 2012 | $940 | $790 | $781 | $801 |
| 2011 | $941 | $798 | $804 | $849 |
| 2010 | $955 | $799 | $803 | $809 |
| 2009 | $960 | $807 | $809 | $815 |
| 2007 | $927 | $791 | $786 | $786 |
| 2005 | $910 | $804 | $851 | $809 |
Racine Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Racine Wisconsin was 3.90% according to Census ACS data.
Rental Vacancy Rate in Racine Wisconsin
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Wisconsin | 4.93% | -0.46% | +0.08% |
| Racine, WI | — | — | — |
Trends in Racine, WI Rental Vacancy Rate
The rental vacancy rate in Racine peaked in 2013 at 8.84%. Since then it has fallen by 4.94% to 3.90%. Data records for this series originated in 2005.
Rental Vacancy Rate: Racine WI, Wisconsin, US
Historical Rental Vacancy Rate data for Racine
| Date | US | Wisconsin | Racine, WI |
|---|---|---|---|
| 2019 | 5.97% | 4.93% | — |
| 2018 | 6.15% | 5.39% | — |
| 2017 | 6.18% | 5.20% | 3.90% |
| 2016 | 5.89% | 4.85% | 5.74% |
| 2015 | 5.85% | 4.67% | 5.42% |
| 2014 | 6.32% | 4.64% | 7.55% |
| 2013 | 6.49% | 5.22% | 8.84% |
| 2012 | 6.77% | 5.48% | 6.11% |
| 2011 | 7.40% | 5.17% | 6.39% |
| 2010 | 8.17% | 6.16% | 6.80% |
| 2009 | 8.43% | 5.86% | 6.76% |
| 2007 | 7.87% | 6.83% | 5.52% |
| 2005 | 7.74% | 6.49% | 4.33% |
Rent as a Fraction of Income
Using median household income data for Racine, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Racine, median monthly gross rent as a fraction of median household income was 16.45% in 2019 according to the ACS.
Racine Wisconsin Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Wisconsin | 16.21% | -0.51% | -0.73% |
| Racine, WI | 16.45% | -0.56% | -1.45% |
Trends in Racine, WI Rent as a Fraction of Income
The fraction of median Racine household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 17.90%. Since then it has fallen by 1.45% to 16.45%.
Fraction of Income towards Rent: Racine WI, Wisconsin, US
Historical Data for Annual Rent as a Fraction of Income in Racine Wisconsin
| Date | US | Wisconsin | Racine, WI |
|---|---|---|---|
| 2019 | 20.03% | 16.21% | 16.45% |
| 2018 | 20.50% | 16.72% | 17.01% |
| 2017 | 20.13% | 16.57% | 16.26% |
| 2016 | 20.43% | 16.94% | 17.90% |
| 2015 | 20.63% | 17.08% | 16.77% |
| 2014 | 20.89% | 17.83% | 17.74% |
| 2013 | 20.78% | 17.67% | 17.07% |
| 2012 | 20.65% | 17.46% | 16.97% |
| 2011 | 20.70% | 17.60% | 16.98% |
| 2010 | 20.50% | 17.51% | 16.79% |
| 2009 | 20.12% | 16.99% | 16.47% |
| 2007 | 18.66% | 15.97% | 15.63% |
| 2005 | 18.89% | 16.38% | 16.19% |
Renter Fraction in Racine Wisconsin
You can calculate the renter fraction in Racine in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Racine as a fraction of total Racine households. In 2019 32.89% of households were renters according to Census ACS data.
Racine Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Wisconsin | 32.80% | -0.06% | -0.54% |
| Racine, WI | 32.89% | -0.73% | -2.38% |
Trends in the Racine, WI Renter Fraction
The Racine household renter fraction peaked in in 2016 at 35.27% and is now 2.38% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Racine WI, Wisconsin, US
History of Racine Renter Fraction
| Date | US | Wisconsin | Racine, WI |
|---|---|---|---|
| 2019 | 35.89% | 32.80% | 32.89% |
| 2018 | 36.05% | 32.86% | 33.62% |
| 2017 | 36.13% | 33.39% | 32.33% |
| 2016 | 36.88% | 33.34% | 35.27% |
| 2015 | 36.97% | 33.21% | 30.24% |
| 2014 | 36.90% | 33.40% | 31.46% |
| 2013 | 36.50% | 32.82% | 29.11% |
| 2012 | 36.09% | 32.71% | 31.56% |
| 2011 | 35.42% | 32.15% | 32.15% |
| 2010 | 34.65% | 31.30% | 30.80% |
| 2009 | 34.13% | 31.02% | 31.34% |
| 2007 | 32.80% | 29.92% | 30.02% |
| 2005 | 33.10% | 29.88% | 28.28% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
