The typical home in Racine, WI is worth about $240,000.
With 20% down that's a loan near $192,000 — the calculator
is pre-filled with that figure. Racine's Lake Michigan shoreline and SC Johnson's headquarters give it a mixed manufacturing-and-lakefront identity, and proximity to the large Foxconn-anchored development in neighboring Mount Pleasant has added new industrial tax base nearby. Racine County's effective property tax rate runs above even Wisconsin's high statewide average.
$1,246.58 / month
Total interest
$256,775
Total paid
$448,775
Payoff
30.0 years
How much you need to earn
Racine, WI's median household income is about
$60,000 a year. Under standard 28/36
lending rules that supports a home price around
$188,416 with 20% down —
below the $240,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Racine, WI is about $1,300 a month, so owning the median home costs roughly
$435 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Racine, WI?
On the metro's roughly $240,000 typical home with 20% down, the loan is about $192,000. Principal and interest run near $1,247 a month at today's rate, and Racine, WI's property tax plus insurance add about $488, for a full payment near $1,735.
Can I afford a home in Racine, WI on the median income?
The median household income is about $60,000 a year. Under standard 28/36 lending rules that supports a home price around $188,416 with 20% down — below the $240,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Racine, WI?
Typical asking rent is about $1,300 a month. The full owner payment on a median home is near $1,735, so owning costs roughly $435 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Racine, WI?
The effective property tax rate in the core county is about 1.90% of market value — roughly $4,560 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Racine, WI rising or falling?
Home values are up about 5% over the past year. Racine's Lake Michigan shoreline and SC Johnson's headquarters give it a mixed manufacturing-and-lakefront identity, and proximity to the large Foxconn-anchored development in neighboring Mount Pleasant has added new industrial tax base nearby. Racine County's effective property tax rate runs above even Wisconsin's high statewide average.