Rice, MN—56367
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Rice, MN
As of Oct '25, the median home price in Rice, MN is $344,000, with a year-over-year change of 3.4%. This indicates that home prices in Rice, MN are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $344,000 | 3.4% |
| Single Family | $344,000 | 3.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $281,000 | 3.7% |
3 Bed | $347,000 | 3.3% |
4 Bed | $376,000 | 4.2% |
| 5 Bed | $437,000 | 3.8% |
% of Housing Stock
Rental Trends — Rice, MN
As of July '25, Rentcast reports the average rent in Rice, MN is $1,200, with a year-over-year rent change of -45.5%. Per bedroom, the median rent as of July '25 in Rice, MN is 2-bedrooms: $1,200. The most common rental property sizes in Rice, MN are 2-bedroom and 3-bedroom, accounting for 35.0% and 33.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,200 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Rice, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Rice, MN is 31. This is a increase of 34.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $321,000 | -22.0% |
Listing Count | 30 | 69.0% |
| Listings as % of Homes | 0.7% | 69.0% |
Days on Market | 31 | 34.0% |
Demographics — Rice, MN
As of the latest ACS Survey released in 2023, Rice, MN has a population of 7,230, which has increased by 9.3% over the past 5 years. Rice, MN is a moderately popular place for families, as children make up 24.4% of the population. The area has a moderately educated workforce, with 25.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,230 | 9.3% |
% Under 18 | 24.4% | -13.2% |
% Seniors | 13.9% | 10.3% |
% WFH | 8.7% | 52.6% |
% w/ College Degree | 25.9% | 24.5% |
As of the latest ACS Survey released in 2023, Rice, MN is a predominantly white area, with 93.6% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Rice, MN is hispanic, making up 2.2% of the population. Foreign-born residents account for 0.3% of the population in Rice, MN, and this percentage has decreased by 70.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.6% | -2.3% |
% Black | 0.4% | 33.3% |
% Hispanic | 2.2% | 175.0% |
% Asian | 0.2% | -71.4% |
% Foreign Born | 0.3% | -70.0% |
Mortgage and Risk — Rice, MN
According to HUD data as of 2023, there were 110 mortgage originations in Rice, MN, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Rice, MN. Investor activity is low, as 3.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 110 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Rice, MN
Rice, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $840 |
| 2 Bedroom | -$100 | $1,200 | $1,100 |
| 3 Bedroom | N/A | N/A | $1,440 |
| 4 Bedroom | N/A | N/A | $1,720 |
Affordability — Rice, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $344,000 |
| Median Household Income | $102,000 |