Total monthly cost of ownership
Cost to Own a Home in Racine, Wisconsin
A $158,000 home here costs
$1,528per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $812. The real number is $716 higher every month — 88% more than the payment most buyers budget for.
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 $177 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
Common questions
How much does it cost to own a home in Racine?
A $158,000 home in Racine, Wisconsin costs approximately $1,528 per month with 20% down at 6.66%. That is $812 principal and interest, $298 property tax, $41 homeowners insurance, $245 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 $1,528 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
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.