Department of Numbers

Racine Wisconsin Residential Rent and Rental Statistics

The median monthly gross residential rent in Racine, WI (the Racine metro area) was $831 in 2016 according to the Census ACS survey.1 Average gross rent in Racine was $821 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Racine median and average rent data will be released in September of 2018.

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 (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Wisconsin Median Gross Rent $802 0.00% +5.25%
Racine, WI Median Gross Rent $831 +2.59% +7.23%

Racine, WI Real Gross Rent Trends

At $831, real median gross rent in Racine was at its highest level in 2016 since the series began in 2005. Average gross rent for Racine peaked in real terms in 2015 at $848 and is now $27 (3.18%) lower.

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
2016 $981 $802 $831 $821
2015 $972 $802 $810 $848
2014 $942 $788 $813 $777
2013 $910 $762 $775 $749
2012 $898 $755 $746 $765
2011 $898 $762 $767 $811
2010 $912 $763 $767 $773
2009 $916 $771 $773 $778
2008 $932 $796 $792 $783
2007 $885 $755 $751 $751
2006 $895 $772 $747 $740
2005 $869 $768 $813 $772

Racine Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Racine Wisconsin was 5.74% according to Census ACS data.

Rental Vacancy Rate in Racine Wisconsin

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Wisconsin 4.85% +0.18% -0.37%
Racine, WI 5.74% +0.32% -3.10%

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 3.10% to 5.74%. 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
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%
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 17.90% in 2016 according to the ACS.

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

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Wisconsin 16.94% -0.14% -0.73%
Racine, WI 17.90% +1.13% +0.83%

Trends in Racine, WI Rent as a Fraction of Income

Racine renters paid 17.90% of median household income towards the median monthly gross rent in 2016. This is the highest fraction of median household income going to rent since the series originated in 2005.

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
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%
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 2016 35.27% of households were renters according to Census ACS data.

Racine Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Wisconsin 33.34% +0.13% +0.52%
Racine, WI 35.27% +5.03% +6.16%

Trends in the Racine, WI Renter Fraction

At 35.27%, the 2016 household based renter fraction in Racine was at its highest 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
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%
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.