Racine, WI home values, income, and owner costs

Start with the dated local finding: In Racine, WI, the 2024 ACS reports a median owner-occupied home value of $166,500, median household income of $57,740, and median selected monthly owner costs of $1,398 for owners with a mortgage. Together, those three reference points may help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $1,398 measure combines recurring ownership expenses in place of real estate taxes alone. For borrower planning, a useful affordability review starts with $166,500, $57,740, and $1,398, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.

Racine, WI's $166,500 median home-value estimate is below the statewide $266,500 estimate, with a reported city-to-state gap of 37.5%. That 37.5% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Racine, WI. It does not mean every local property is 37.5% away from a comparable property elsewhere in the state, because the medians reflect different housing mixes and geographies. For borrower planning, borrowers can use $166,500 and $266,500 to decide which assumptions need local replacement first, then compare actual properties and current financing disclosures on the same basis.