Racine County Real Estate and Livability Trends
Racine County, Wisconsin's median home values have jumped to $226,500 in 2022, outpacing both state and national averages, pointing to unique local factors enhancing its investment allure. Average taxable income has risen from $54,833.25 in 2013 to about $72,818.79 in 2021, suggesting growing economic prosperity. Meanwhile, the student-to-teacher ratio has improved, sinking from 22 in 2014 to... Read more
Racine County Market Trends
In Racine County, Wisconsin, median home values have surged to $226,500 in 2022, significantly outperforming both state and national averages. This rapid growth could hint at unique local factors boosting its investment appeal. Noteworthy too, residential energy tax credits have shown considerable yearly fluctuations, especially peaking in 2018, which might affect long-term financial planning for... Read more
Median Value of Occupied Housing Units in Racine County, Wisconsin Over the Last 8 Years
In Racine County, Wisconsin, median home values have seen a steady increase over the past eight years, reaching $226,500 in 2022, marking a $61,900 rise since 2015. This outpaces both the state and national averages, where Wisconsin saw median values climb to $231,400 and the national figure hit $179,400 in 2022. Such robust growth suggests that Racine County could be becoming a more attractive area for investment, potentially driven by local economic factors or increased demand for housing. Comparing this rise with the more gradual national trend could indicate unique drivers in the county that make it particularly appealing for potential homebuyers.
Residential Energy Tax Credit Per Tax Return in Racine County, WI Over the Last 9 Years
Racine County, Wisconsin, has shown notable fluctuations in residential energy tax credits per tax return over the past nine years. There was a substantial peak in 2018, with an average credit of $1862.50, whereas the surrounding years were significantly lower, suggesting possible changes in policy or specific incentives that year. By 2021, the average credit had stabilized to $634.39, indicating a generally increasing trend after the dramatic spike. These insights might be particularly relevant for potential homeowners, investors, and professionals working within the real estate and energy sectors, as varying energy incentives could impact long-term financial planning and property valuations.
Average Real Estate Taxes Per Tax Return in Racine County, WI Over the Last 10 Years
Over the past decade, Racine County, Wisconsin has seen a notable upward trend in average real estate taxes per tax return. From 2012 to 2021, these taxes have increased from approximately $4,458.44 to around $6,262.77. The most significant spikes occurred between 2017 and 2020, suggesting potential factors such as property value reevaluations or changes in tax rates. This steady rise may impact future investment decisions and property values, with implications for both current residents and those considering moving to or investing in the area.
Percentage of Farm Returns in Racine County, WI Over the Last 10 Years
The percentage of farm tax returns in Racine County, Wisconsin, has shown a mild overall decline over the last decade, slipping from approximately 0.52% in 2012 to around 0.44% in 2021. This subtle trend may suggest a gradual shift in the economic makeup or priorities within the county, which could have implications for potential investors, property developers, and residents. Farm tax returns, representing the amount of tax filings specific to farm income, can serve as an indicator of the agricultural sector's health and its contribution to the local economy. Investors and developers might see this trend as a signal to diversify investments, while residents interested in agribusiness should be mindful of the area’s evolving economic landscape.
Number of Mortgages by Occupancy Type in Racine County, WI Over the Last 5 Years in Racine County
Over the past five years in Racine County, Wisconsin, there has been a noticeable fluctuation in mortgage counts across various occupancy types. Principal residences consistently dominated the market, peaking at over 15,000 in 2020. Investment properties saw a relative decrease from 825 in 2021 to 693 in 2022, while second residences remained a small fraction of the overall market. Changes in occupancy type give insight into consumer confidence and economic conditions. An increase in principal residences might suggest a stable housing demand, whereas fluctuations in investment property mortgages could indicate shifts in investor sentiment or economic volatility. These trends are vital for stakeholders like investors, appraisers, real estate agents, and potential homeowners to gauge market dynamics and make informed decisions.
Economic Outlook
Racine County, Wisconsin has experienced a steady rise in average taxable income per tax return, peaking at roughly $72,818.79 in 2021 from $54,833.25 in 2013, hinting at economic growth and higher earning potential. Concurrently, state and local income taxes have almost doubled, reaching approximately $11,626.69 in 2021, reflecting either rising incomes or increased tax rates. The poverty rate provides a mixed picture, with significant decreases in recent years, dropping to around 8.2% in... Read more
Average Taxable Income per Tax Return in Racine County, WI over the last 9 years
Racine County, Wisconsin has seen a noticeable rise in average taxable income per tax return over the past nine years. Starting at approximately $54,833.25 in 2013, the figure has steadily increased, peaking at roughly $72,818.79 in 2021. This trend may indicate economic growth and higher earning potential, offering promising prospects for real estate investors, appraisers, and those considering moving to the area. For builders and insurance agents, the upward trajectory in income levels could imply a growing market with potential for increased demand in housing and insurance policies.
Average State and Local Income Taxes Per Tax Return in Racine County, WI Over the Last 10 Years
Racine County, Wisconsin has seen a noticeable upward trend in average state and local income taxes per tax return over the last decade. Starting at around $6,629.61 in 2012 and reaching approximately $11,626.69 in 2021, the increase is indicative of rising incomes or tax rates. Despite some fluctuations, such as a significant jump to $10,303.68 in 2018 and a dip in 2019 to around $9,758.59, the overall direction suggests growing financial commitments for residents. This can matter to investors, potential residents, and those in real estate as an indicator of economic growth or changing fiscal policies in the area.
Average Total Tax Liability Per Tax Return in Racine County, WI Over the Last 10 Years
Over the past decade, Racine County in Wisconsin has experienced noticeable fluctuations in average total tax liability per tax return. From $8,755.35 in 2012, the liability saw a substantial rise to $11,061.14 by 2021. This trend could imply a growing economic activity or demographic changes affecting tax contributions. For investors, potential homebuyers, and real estate professionals, understanding these shifts may be useful for assessing financial commitments or real estate profitability in the area. Also important for appraisers and insurance agents, these figures could influence property valuations or risk assessments.
Cost of Living in Racine County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,329 | $1,476 | $1,913 | $2,213 | $1,692 |
| 1 adult 4 children | $1,329 | $1,205 | $1,471 | $2,213 | $1,852 |
| 2 adults 3 children | $1,329 | $1,206 | $1,656 | $2,213 | $1,422 |
| 1 adult 3 children | $1,329 | $984 | $1,214 | $2,213 | $1,605 |
| 2 adults 2 children | $1,021 | $987 | $1,398 | $1,937 | $1,108 |
| 1 adult 2 children | $1,021 | $737 | $957 | $1,937 | $1,205 |
| 2 adults 1 child | $1,021 | $780 | $1,141 | $1,040 | $913 |
| 1 adult 1 child | $1,021 | $504 | $699 | $1,040 | $819 |
| 2 adults | $778 | $627 | $883 | $0 | $592 |
| 1 adult | $683 | $342 | $442 | $0 | $525 |
Safety trends & Data
Racine County, Wisconsin has experienced notable fluctuations in property crimes over the past five years, which could impact decisions for investors, real estate agents, and residents. While arson and motor vehicle theft have remained relatively low, vandalism saw a significant peak in 2020 with 230 incidents. The downward trend in larceny-theft, from 539 cases in 2018 to 278 in 2022, might suggest improving safety. However, the spike in embezzlement in 2020 and varying burglary rates could... Read more
Property Crime Trends in Racine County, WI Over the Last 5 Years
Racine County, Wisconsin has seen fluctuations in property crimes over the past five years, impacting various decisions for investors, real estate agents, and residents. Arson and motor vehicle theft remain relatively low but consistent, while vandalism peaks notably in 2020 at 230 incidents. Larceny-theft is the most prevalent, though it shows a downward trend from 539 cases in 2018 to 278 in 2022. Embezzlement spikes in 2020 with 36 incidents, indicating potential vulnerabilities in local businesses. Burglary numbers decrease then slightly rise, which may affect neighborhood desirability and insurance rates. Awareness of these crime trends is essential for informed decision-making in Racine County's real estate and business landscape.
Demographics
Racine County, Wisconsin's adult population is almost evenly split between males and females, influencing community dynamics and market targeting. The county shows a notable educational landscape with high school graduates leading, closely followed by those with some college education but no degree. Age distribution reveals a substantial number of residents in the 25 to 34 and 35 to 44-year age brackets, potentially indicating strong workforce demographics. The racial composition is primarily... Read more
Race Distribution in Racine County, Wisconsin (2022)
Educational Attainment in Racine County, Wisconsin (2022)
Age Distribution in Racine County, Wisconsin
Citizen Population in Racine County, Wisconsin (2022)
Political Trends & Data
In Racine County, Wisconsin, real estate trends may be influenced by its slight Republican lean in the recent 2020 U.S. Presidential Election, where Republicans garnered approximately 51% of the vote. With Democrats close behind at around 47%, the tight political landscape could indicate a balanced mix of buyer preferences and community values. Notably, Libertarians drew just over 1% of the vote, suggesting some interest in alternative perspectives, though the Green Party and others had minimal... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Racine County, Wisconsin, leaned slightly Republican in the 2020 U.S. Presidential Election, with around 51% of the vote, compared to about 47% for Democrats. Libertarians attracted just over 1% of the electorate, highlighting limited but notable third-party interest. The Green Party and other parties together accounted for less than 1%, showing minimal alternative party influence in this county.
51.18% of voters voted for the Republican party in the 2020 Presidential Election
47.12% of voters voted for the Democrat party in the 2020 Presidential Election
1.13% of voters voted for the Livertarian party in the 2020 Presidential Election
0.04% of voters voted for the Green party in the 2020 Presidential Election
0.54% of voters voted for the Other party in the 2020 Presidential Election
School Data
Racine County, Wisconsin has seen its student-to-teacher ratio drop from 22 in 2014 to approximately 12 in 2023. Families might find this trend appealing due to the potential for more personalized education and better outcomes. Investors, real estate agents, and developers could also benefit as improving educational metrics can boost property values and draw new residents. With the current ratio below the national average of 14, Racine County offers a favorable educational... Read more
Student-to-teacher ratio in Racine County, Wisconsin over the last 9 years
The student-to-teacher ratio in Racine County, Wisconsin has seen a notable decline over the past nine years, dropping from 22 in 2014 to approximately 12 in 2023. This trend might be particularly appealing for families considering moving to the area, as smaller class sizes can often lead to more personalized attention and potentially better educational outcomes. Investors, real estate agents, and developers may also find this trend relevant, as improving educational metrics can boost property values and attract new residents. Additionally, the current ratio of about 12 students per teacher is below the national average of 14, indicating a favorable environment for education in Racine County compared to other parts of the United States.
