Rice, MN
Population 1,998 · Minnesota
About Rice, MN
Rice is a small town located in Minnesota with a population of 1,998 residents according to the latest US Census Bureau American Community Survey data. The median household income is $103,482 per year, which is 38% above the national median of $75,149. The median age of 31.3 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Rice features a median home value of $237,600, which is 3% below the national median of $244,900. This positions Rice in a moderately priced market relative to the rest of the country. Median monthly rent is $1,529, 31% above the national average of $1,163/month. Of the 697 total housing units, 88% are owner-occupied (613 units) and 12% are renter-occupied (84 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Rice shows an unemployment rate of 1.8%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Rice have an average one-way commute time of 23.8 minutes.
Education & Demographics
31.8% of Rice residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 3.4% White, 1.6% Hispanic or Latino, 0.0% Black or African American, and 1.0% Asian residents, with 0.2% of the population being foreign-born.
Cost of Living in Rice, MN
Compared to national averages, Rice has a median household income of $103,482 (38% above the national median of $75,149). Home values average $237,600, which is 3% below the national median. Monthly rent at $1,529 is 31% above the US average of $1,163. Within Minnesota, Rice's income is 39% above the state average of $74,221, and home values are 16% above the state median of $204,472.
Why Live in Rice, MN?
Rice offers a strong local economy with a median household income of $103,482, well above the national average, and affordable housing with a median home value of $237,600, below the US average of $244,900, and a strong job market with an unemployment rate of just 1.8%. Additionally, the city features a low poverty rate of 2.7%, better than the national average, and short commute times averaging just 23.8 minutes.
Rice has a population of 1,998 with a median age of 31.3 years. Compare Rice with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Rice
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Stacy | 1,992 | $76,875 | $222,800 | Compare |
| St. Bonifacius | 1,982 | $116,500 | $342,400 | Compare |
| Blooming Prairie | 1,977 | $63,929 | $155,800 | Compare |
| Winsted | 2,023 | $70,208 | $210,200 | Compare |
| Ortonville | 1,968 | $53,021 | $117,500 | Compare |
| Waverly | 1,947 | $113,269 | $284,600 | Compare |
| Esko | 2,063 | $116,406 | $278,800 | Compare |
| Warroad | 2,067 | $50,685 | $195,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Rice With Other Cities
Frequently Asked Questions about Rice
What is the population of Rice, MN?
The population of Rice, MN is 1,998 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Minnesota.
What is the median household income in Rice?
The median household income in Rice, MN is $103,482 per year, which is 38% above the national median of $75,149.
What is the median home value in Rice?
The median home value in Rice, MN is $237,600, which is 3% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Rice?
The median monthly rent in Rice, MN is $1,529, which is 31% above the national average of $1,163/month.
What is the unemployment rate in Rice?
The unemployment rate in Rice, MN is 1.8%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Rice, MN a good place to live?
Rice offers above-average incomes, affordable housing, and a strong job market. With a population of 1,998 and a median age of 31.3, the city appeals to young professionals and families.
How educated is Rice, MN?
31.8% of residents in Rice aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Rice?
Key cost-of-living indicators for Rice, MN: median home value is $237,600 (3% below national), median rent is $1,529/month, and median household income is $103,482. The home-value-to-income ratio is 2.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Rice?
The poverty rate in Rice, MN is 2.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Rice, MN?
Rice's population is 3.4% White, 1.6% Hispanic or Latino, 0.0% Black or African American, 1.0% Asian, and 1.4% two or more races. 0.2% of residents are foreign-born.