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Featured local agent — Rice, MN
Sarah Mitchell
Compass Real Estate · Rice, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Rice, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$349,950median sale price
How is the Rice, MN housing market right now?
The median home sale price in Rice, MN is $349,950, up 54.9% year-over-year. Homes sell in an average of 12 days with 12 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Rice a buyer's or seller's market?
Rice, MN is currently a seller's market, based on 3.0 months of supply and homes selling in about 12 days. How we determine this →
Homes sold
4
Last 12 weeks
Days on market
12
Fast-moving
Active listings
12
3.0 months supply
Sale-to-list
100.1%
Above asking
What does the Rice housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $349,950 |
| Median list price | $301,900 |
| Year-over-year price change | +54.9% |
| Average days on market | 12 days |
| Active inventory | 12 listings |
| Months of supply | 3.0 months |
| Sale-to-list price ratio | 100.1% |
| Median price per sq ft | $211/sq ft |
| Homes sold (latest month) | 4 |
| New listings (latest month) | 6 |
| Listings with a price cut | 8.3% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Rice by property type?
How the Rice, MN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $349,950 | $211/sq ft | 4 | 12 days |
| Townhouse | $259,185 | $193/sq ft | 2 | 114 days |
Source: Redfin · Updated monthly
The Rice housing market is currently classified as a seller's market with a median sale price of $349,950. Prices have risen 54.9% compared to last year, with homes spending an average of 12 days on market, indicating 3.0 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.5x provides context for how home values compare to local earning capacity.
Homes for sale in Rice
There are currently 12 homes listed for sale in Rice, Minnesota. The median listing price is $302K.
Active listings
12
Homes on market
Median list price
$302K
Avg. days on market
12
Days until sale
New this week
6
Newly listed
Who lives in Rice?
Population
1,998
Median income
$103,482/yr
Median age
31.3 years
Owner-occupied
87.9%
College grads
31.8%
Avg commute
23.8 min
Source: U.S. Census Bureau ACS
What are homes worth in Rice?
Zillow home value
$357,900
Price-to-income
3.5x
Source: Zillow Research
What is it like to live in Rice?
Rice is a community of approximately 2K residents with a median age of 31.3 years.The median household income is $103,482, which reflects a relatively affluent area with strong earning potential. 31.8% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 87.9%, reflecting strong community stability and long-term resident commitment. The average commute time is 23.8 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Rice offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Rice?
1 schools tracked · 361 students
The largest public schools serving Rice, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
RICE ELEMENTARY
Grades PK-5 · 361 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Rice, MN?
Want a head-to-head view? Compare Rice side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Rice?
The median home sale price in Rice is $349,950, up 54.9% from last year.
How long do homes stay on market in Rice?
Homes typically spend 12 days on market before going under contract.
What is the median income in Rice?
The median household income is $103,482 per year.
Is Rice a buyer's or seller's market?
With 3.0 months of supply, Rice is currently a seller's market.
What is the Zillow home value estimate for Rice?
The Zillow Home Value Index (ZHVI) for Rice is $357,900, representing the typical home value in the area.
How much does a single-family home cost in Rice?
The median single-family home price in Rice, MN is $349,950 (about $211 per square foot).
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