Mortgage payment estimates, closing cost breakdowns, and homebuying data for Racine, Wisconsin.
Median Home Price
$175K
Population
78K
Avg Monthly Rent
$920
Property Tax Rate
1.76% *
* Property tax shown is the Wisconsin state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Racine.
Racine vs Wisconsin Median
The median home price in Racine is $175,000, which is 38% below the Wisconsin state median of $280,000.
Mortgage Calculator — Racine, WI
Pre-filled with Racine median home price and Wisconsin tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $175K home using Wisconsin's 1.76% tax rate and $1,300/yr insurance.
5% Down
$1,513/mo
Down: $8,750
Loan: $166K
P&I: $1,051
Tax: $257
Insurance: $108
PMI: $97
10% Down
$1,452/mo
Down: $17,500
Loan: $158K
P&I: $996
Tax: $257
Insurance: $108
PMI: $92
20% Down (No PMI)
$1,250/mo
Down: $35,000
Loan: $140K
P&I: $885
Tax: $257
Insurance: $108
Income needed (28% rule): $54K/year with 20% down, $62K/year with 10% down.
Rent vs Buy in Racine
Rent
$920/mo
vs
Buy (10% down)
$1,452/mo
Price-to-rent ratio: 15.9 — A ratio between 15-20 means the rent vs buy decision in Racine depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Racine is $175,000, 38% below the Wisconsin state median of $280,000. With a population of 77,816, Racine is a smaller market where home prices tend to be more accessible than in many parts of Wisconsin.
Property taxes in Wisconsin average 1.76% annually. This higher-than-average tax rate means a $175,000 home in Racine would carry roughly $257/month in property taxes alone — plan accordingly. Homeowners insurance in Wisconsin runs approximately $1,300 per year. This is within the normal range nationally.
Average rent in Racine is $920/month. The price-to-rent ratio in Racine is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Racine offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Wisconsin's WHEDA First-Time Advantage program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Racine.