Study: Racine most affordable place to live in the world

Posted at 5:20 PM, Jan 24, 2017
and last updated 2017-01-24 19:43:21-05

A new study ranks Racine as the most affordable housing market in the world. The Demographia International Housing Affordability survey took a look at more than 400 urban markets in nine countries, calculating affordability by dividing median house price by gross annual median household income.

Homeowners are getting a good value in Racine, not having to break the bank. Regina Harders is originally from Chicago. She just moved to the area a year ago and says the prices are just too good.

"It's a good spot, it's a very good spot, I really like it up here, what I pay here I probably have to pay four times in Chicago," said Harders.

John Crimmings is realtor with First Weber Real Estate. He's been working the Racine housing market for 40 years. Crimmings says the median home sale price is $104,000---the median income in Racine is $58,400.

"It's pretty exciting, right now it's a very positive thing," said Crimmings.

Crimmings adds one of the biggest upsides to the housing market in Racine is being not too far from Milwaukee and Chicago.

"It's a small-town feel, but you have access to all of the major metropolitan benefits that you might in Chicago or Milwaukee, so it's very appealing from that standpoint," he said.

That's exactly what homeowners like Harders were looking for.

"You have everything that a city of Chicago has to offer but just easier, it’s not as crowded obviously," said Harders.

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