Commercial Real Estate Market in Racine, WI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
123 active listings and 2,304 off-market properties in Racine, WI. Commercial property asks $115/SF to buy and $13.58/SF/Yr to lease.
Market Trends
Racine, WI spans 58.1 square miles in Racine County, Wisconsin. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Racine, WI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Racine, WI runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Racine, WI runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Racine, WI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 60.6%
- Industrial 23%
- Commercial 10.8%
- Civic 5.7%
Largest Zones share of zoned land by district
Limited General Residence
Single Family Residence
General Industrial
Single Family Residence
Community Shopping
Racine, WI zones 8,137 acres across 26 districts. Commercial zoning covers 10.8% of zoned land, residential 60.6% and industrial 23%. The largest single district is Limited General Residence at 25%. For commercial buyers the practical constraint is that only 33.7% of land carries a commercial or industrial designation.
Limited General Residence (R-3)
To provide areas which are to be occupied substantially by single-family and two-family dwellings and attached dwellings
Market overview
Demographics & Economy
Racine, WI has 128,061 residents in 55,789 households. Density runs 2,205 people per square mile. Median household income here is $67,425 and median gross rent $1,002 a month.
128,061
Population
55,789
Households
2.3
Avg Household Size
39
Median Age
27%
College-Educated
90%
High-School Grad
58.1 sq mi
ZIP Area
2,205
Density / Sq Mi
$67,425
Median Household Income
$42,372
Median Earnings
$1,002
Median Rent
$196,926
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mount Pleasant | — | — |
| Wind Point | — | — |
| Sturtevant | — | — |
| Kenosha | — | $19.43 |
Commercial property in Racine, WI asks $115/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Racine?
Commercial property in Racine, WI asks an average of $115 per square foot. The 8 most recent recorded sales traded at a median of $113/SF, so asking sits 3% above the achieved median.
How much does it cost to lease commercial space in Racine?
Asking lease rates in Racine, WI average $13.58 per square foot per year.
What zoning applies to commercial property in Racine?
Racine, WI zones 8,137 acres across 26 districts, of which 10.8% is commercial and 23% industrial. The largest single district is Limited General Residence at 25% of zoned land. To provide areas which are to be occupied substantially by single-family and two-family dwellings and attached dwellings Residential zoning covers 60.6% and open space 0%.
Where does Realmo's Racine market data come from?
Realmo compiles Racine, WI figures from 8 recent recorded sales, 97 active sale listings, 26 active lease listings, 2,304 tracked off-market properties, the current Racine zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 97 active for-sale and 26 active for-lease listings in Racine, WI. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 8,137 zoned acres across 26 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
