Rice Lake, MN
Population 4,120 · Minnesota
About Rice Lake, MN
Rice Lake is a small town located in Minnesota with a population of 4,120 residents according to the latest US Census Bureau American Community Survey data. The median household income is $95,347 per year, which is 27% above the national median of $75,149. The median age of 44.8 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Rice Lake features a median home value of $283,700, which is 16% above the national median of $244,900. This positions Rice Lake in a moderately priced market relative to the rest of the country. Median monthly rent is $1,328, 14% above the national average of $1,163/month. Of the 1,825 total housing units, 90% are owner-occupied (1,557 units) and 10% are renter-occupied (164 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Rice Lake shows an unemployment rate of 0.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Rice Lake have an average one-way commute time of 22.2 minutes.
Education & Demographics
31.7% of Rice Lake 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 0.0% White, 0.2% Hispanic or Latino, 0.3% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
How Rice Lake Ranks in Minnesota
Cost of Living in Rice Lake, MN
Compared to national averages, Rice Lake has a median household income of $95,347 (27% above the national median of $75,149). Home values average $283,700, which is 16% above the national median. Monthly rent at $1,328 is 14% above the US average of $1,163. Within Minnesota, Rice Lake's income is 28% above the state average of $74,221, and home values are 39% above the state median of $204,472.
Why Live in Rice Lake, MN?
Rice Lake offers a strong local economy with a median household income of $95,347, well above the national average, and a strong job market with an unemployment rate of just 0.7%, and a low poverty rate of 6.8%, better than the national average. Additionally, the city features short commute times averaging just 22.2 minutes.
Rice Lake has a population of 4,120 with a median age of 44.8 years. Compare Rice Lake with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Rice Lake
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Goodview | 4,104 | $75,375 | $215,200 | Compare |
| Pipestone | 4,165 | $61,442 | $102,000 | Compare |
| Cold Spring | 4,201 | $72,022 | $242,000 | Compare |
| Le Sueur | 4,204 | $71,563 | $216,700 | Compare |
| Columbus | 4,211 | $117,917 | $439,200 | Compare |
| Cannon Falls | 4,216 | $80,515 | $262,100 | Compare |
| St. Charles | 4,021 | $96,544 | $231,300 | Compare |
| Park Rapids | 4,226 | $45,800 | $218,500 | 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 Lake With Other Cities
Frequently Asked Questions about Rice Lake
What is the population of Rice Lake, MN?
The population of Rice Lake, MN is 4,120 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 Lake?
The median household income in Rice Lake, MN is $95,347 per year, which is 27% above the national median of $75,149.
What is the median home value in Rice Lake?
The median home value in Rice Lake, MN is $283,700, which is 16% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Rice Lake?
The median monthly rent in Rice Lake, MN is $1,328, which is 14% above the national average of $1,163/month.
What is the unemployment rate in Rice Lake?
The unemployment rate in Rice Lake, MN is 0.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Rice Lake, MN a good place to live?
Rice Lake offers above-average incomes, a competitive housing market, and a strong job market. With a population of 4,120 and a median age of 44.8, the city appeals to a broad range of residents.
How educated is Rice Lake, MN?
31.7% of residents in Rice Lake 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 Lake?
Key cost-of-living indicators for Rice Lake, MN: median home value is $283,700 (16% above national), median rent is $1,328/month, and median household income is $95,347. The home-value-to-income ratio is 3.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Rice Lake?
The poverty rate in Rice Lake, MN is 6.8%, 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 Lake, MN?
Rice Lake's population is 0.0% White, 0.2% Hispanic or Latino, 0.3% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.