Racine, WI

Very Low · 63

Wisconsin · Population 77,155 · Updated March 2026

$983
Median Rent / Month
$55,705
Median Income
$158,100
Median Home Value
$1,022
Owner Costs / Month

Affordability

How far your income goes in Racine

21.2%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Wisconsin

State-level tax rates that affect your costs

7.65%
Income Tax (Top Rate)
5.0%
Sales Tax
1.61%
Property Tax Rate

Estimated Annual Costs

$11,796
Annual Rent
$4,261
State Income Tax
$2,545
Property Tax (est.)

Cost of Living Overview

Racine is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 63 (where 100 equals the national median), Racine residents can expect to pay median rent of $983/month while earning a median household income of $55,705/year.

The median home value in Racine, WI is $158,100, with typical monthly owner costs around $1,022 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.2% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Wisconsin has a moderate income tax rate of 7.65%. Combined with a 5.0% sales tax rate and 1.61% effective property tax rate, the overall tax environment is a factor in the total cost of living in Racine.

Frequently Asked Questions

Common questions about living costs in Racine

What is the cost of living in Racine, WI?
The cost of living index in Racine, WI is 63 (US average = 100). Median monthly rent is $983, median household income is $55,705/year, and the median home value is $158,100.
Is Racine, WI affordable?
Yes, Racine is more affordable than the national average with a cost index of 63. The rent-to-income ratio is 21.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Racine, WI?
The median gross rent in Racine, WI is $983 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,796.
What is the median household income in Racine?
The median household income in Racine, WI is $55,705 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Wisconsin?
Wisconsin has a top income tax rate of 7.65%, a sales tax of 5.0%, and an effective property tax rate of 1.61%.