Department of Numbers

Racine Wisconsin Residential Rent and Rental Statistics

The median monthly gross residential rent in Racine, WI (the Racine metro area) was $825 in 2017 according to the Census ACS survey.1 Average gross rent in Racine was $864 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Racine median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Racine Wisconsin (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Wisconsin Median Gross Rent $819 +0.61% +2.25%
Racine, WI Median Gross Rent $825 -2.25% 0.00%

Racine, WI Real Gross Rent Trends

Median gross rent for Racine peaked in real terms in 2016 at $844 and is now $19 (2.25%) lower. At $864, real average gross rent in Racine was at its highest level in 2017 since the series began in 2005.

Real Gross Rent in Racine: Racine WI Median, Racine WI Average, Wisconsin Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Racine

Date US
Median
Wisconsin
Median
Racine, WI
Median
Racine, WI
Average
2017 $1,012 $819 $825 $864
2016 $996 $814 $844 $834
2015 $987 $815 $823 $861
2014 $956 $801 $825 $789
2013 $924 $774 $787 $761
2012 $912 $767 $757 $777
2011 $912 $774 $779 $823
2010 $927 $775 $779 $785
2009 $931 $783 $785 $790
2008 $947 $809 $804 $795
2007 $899 $767 $762 $762
2006 $909 $784 $759 $751

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

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Wisconsin 5.20% +0.35% +0.56%
Racine, WI 3.90% -1.84% -3.65%

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

Rental vacancy rate in Wisconsin

Historical Rental Vacancy Rate data for Racine

Date US Wisconsin Racine, WI
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%
2008 7.86% 6.26% 6.34%
2007 7.87% 6.83% 5.52%
2006 7.70% 7.18% 4.66%

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 16.26% in 2017 according to the ACS.

Racine Wisconsin Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Wisconsin 16.57% -0.37% -1.26%
Racine, WI 16.26% -1.64% -1.48%

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 1.64% to 16.26%.

Fraction of Income towards Rent: Racine WI, Wisconsin, US

Percent of median household income going towards median monthly gross rent in Racine Wisconsin

Historical Data for Annual Rent as a Fraction of Income in Racine Wisconsin

Date US Wisconsin Racine, WI
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%
2008 19.00% 16.22% 15.40%
2007 18.66% 15.97% 15.63%
2006 18.90% 16.19% 15.06%

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 2017 32.33% of households were renters according to Census ACS data.

Racine Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Wisconsin 33.39% +0.05% -0.01%
Racine, WI 32.33% -2.94% +0.87%

Trends in the Racine, WI Renter Fraction

The Racine household renter fraction peaked in in 2016 at 35.27% and is now 2.94% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Racine WI, Wisconsin, US

Fraction of renters in Racine

History of Racine Renter Fraction

Date US Wisconsin Racine, WI
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%
2008 33.36% 29.87% 28.47%
2007 32.80% 29.92% 30.02%
2006 32.73% 29.55% 29.44%

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.