Total monthly cost of ownership
Cost to Own a Home in Racine, Wisconsin
A $158,000 home here costs
$1,536per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $66,000 a year.
A standard mortgage calculator would have told you $875. The real number is $661 higher every month, 76% more than the payment most buyers budget for.
Compare Racine County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Racine against Racine County and Wisconsin
| Measure | Racine | Racine County |
|---|---|---|
| Median home value | $158,100 | $239,400 |
| Median property tax | $3,576 | $4,071 |
| Effective tax rate | 2.262% | 1.701% |
| Median gross rent | $983 | $1,017 |
| Population | 77,155 | 196,888 |
The weather behind that power bill
Racine sits in Racine County, which averages a high of 81.4°F in its hottest month and a low of 16.0°F in its coldest, with 31.77" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 654 cooling and 6,682 heating degree days, which is what sets the $123 electricity line above.
See the full climate breakdown for Racine County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Racine County
Full Racine County cost breakdown · Every county in Wisconsin
Talk to someone who works this market
These are Racine averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Racine every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Racine I already own here and may sell
Common questions
How much does it cost to own a home in Racine?
A $158,000 home in Racine, Wisconsin costs approximately $1,536 per month with 20% down at 7.4%. That is $875 principal and interest, $298 property tax, $41 homeowners insurance, $191 utilities and $132 set aside for maintenance.
What is the property tax rate in Racine?
Racine has an effective property tax rate of 2.262%, based on a median home value of $158,100 and median real estate taxes of $3,576. That is higher than the Racine County average of 1.701%.
What is the average home price in Racine?
The median owner-occupied home value in Racine, Wisconsin is $158,100, against $239,400 across Racine County.
Is it cheaper to rent or buy in Racine?
Median gross rent in Racine is $983 a month, against $1,536 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Racine?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Racine, Wisconsin at today's rate takes a household income of roughly $66,000 a year. That covers the full $1,536 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Racine, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Wisconsin.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.