Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 2,123, 663 total housing units (homes and apartments), and a median house value of $322,180, Rice real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Rice, accounting for 88.66% of the city's housing units. Other types of housing that are prevalent in Rice include row houses and other attached homes ( 7.31%), large apartment complexes or high rise apartments ( 2.69%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.19%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rice. Owner-occupied housing accounts for 87.03% of Rice's homes, and 77.01% have either three or four bedrooms, which is average sized relative to America.
Rice homes and real estate are some of the newest in America. 66.12% of Rice's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Rice real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 25.97%), and before 1939 ( 6.72%). There's also some housing in Rice built between 1940-1969 ( 1.19%).
Real estate appreciation rates in Rice's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.76% during the period.
Over the last year, Rice appreciation rates have trailed the rest of the nation. In the last twelve months, Rice's appreciation rate has been 1.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rice were at 0.49%, which equates to an annual appreciation rate of 1.99%.
Notably, Rice's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Minnesota, our data show that Rice's latest annual appreciation rate is lower than 70% of the other cities and towns in Minnesota.
$322,180
for Minnesota
for nation
663
$2,175 / per month