Racine, WI
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
moderate
Price to income
3.18×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Wisconsin
- 3.08×
- vs U.S.
- 3.43×-0.25
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
19.7%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Wisconsin
- 19.4%
- vs U.S.
- 23.3%-3.6
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.02%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Wisconsin
- 3.95%+0.07
- vs U.S.
- 4.35%
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.15%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Wisconsin
- 0.01%+0.14
- vs U.S.
- 0.03%+0.12
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
2.25
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Wisconsin
- 3.58
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.6%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Wisconsin
- 2.7%
- vs U.S.
- 3.9%-0.3
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+58.0%
homeValues.yearOverYear
+8.2%
Median home value
$239,400
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $988 | $11,856 | 15.7% |
| 2 BR | $1,235 | $14,820 | 19.7% |
| 3 BR | $1,592 | $19,104 | 25.4% |
Labor market direction
Unemployment
3.6%
Median household income
$75,331
What's being built
Total TTM
443
Single-family
234
2–4 unit
44
5+ unit
165
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Racine County | 197,068 | $239,400 | $75,331 | 443 | -4.7% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Racine | 197,068 | $75,331 | 3.18× | 4.02% | +58.0% | 2.25 | 3.6% |
| St. Cloud, MN | 199,922 | $75,670 | — | — | +42.3% | — | 4.9% |
| Gainesville, GA | 204,953 | $77,430 | — | — | +70.6% | — | 2.5% |
| Warner Robins, GA | 192,171 | $78,702 | — | — | +60.2% | — | 2.8% |
| Springfield, IL | 208,406 | $74,580 | — | — | +43.6% | — | 5.0% |
| Billings, MT | 185,147 | $74,599 | — | — | +48.7% | — | 3.4% |
Where people are moving in from
Net migration
+295
+0.15% of population
| Origin county | Tax returns |
|---|---|
| Milwaukee County, WI | 1,221 |
| Kenosha County, WI | 1,023 |
| Waukesha County, WI | 299 |
| Lake County, IL | 255 |
| Walworth County, WI | 243 |
| Cook County, IL | 157 |
Who lives in Racine
- Median age
- 41
- Bachelor's+
- 28.0%
- Owner-occupancy
- 71.1%
- Vacancy rate
- 6.4%
- Rent burdened (30%+)
- 38.9%
- Median household income
- $75,331
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.