Rice, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Rice, MN Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Rice Housing Market Information

With 1,361 people, 552 houses or apartments, and a median cost of homes of $198,003, 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 85.16% of the city's housing units. Other types of housing that are prevalent in Rice include large apartment complexes or high rise apartments ( 8.66%), row houses and other attached homes ( 3.89%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.30%).

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 90.76% of Rice's homes, and 71.91% 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. 56.01% 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 ( 32.16%), and before 1939 ( 9.01%). There's also some housing in Rice built between 1940-1969 ( 2.83%).

Rice Home Appreciation Rates

Rice's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rice during the period has been just -1.08%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Rice's appreciation rate, at 4.16%, has been at or slightly above the national average. In the latest quarter, Rice's appreciation rate has been 0.13%, which annualizes to a rate of 0.53%.

Relative to Minnesota, our data show that Rice's latest annual appreciation rate is lower than 50% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$198,003

Rice, MN HOME PRICES

Value Range
> $1,088,000 0.7
$816,001 - $1,088,000 0.2
$544,001 - $816,000 0.9
$435,001 - $544,000 2.2
$326,001 - $435,000 8.7
$217,001 - $326,000 21.7
$108,001 - $217,000 58.1
$54,001 - $108,000 4.7
$0 - $54,000 2.7

Average for MN
High for Nation

Value Relative to Nation Value Relative to State
32.7551857494433 41.2731006160164

Number Of Homes And Apartments:
552

Rice Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
32.39% 1.64% 4 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$766 / per month

Homeownership Rate

Homeownership
Owners 90.76
Renters 9.24
Vacant 2.47

Housing Market Details

 

Age of Homes

AGE OF Rice HOMES
2000 or Newer 56.0
1970 - 1999 32.2
1940 - 1969 2.8
1939 or Older 9.0

Types of Homes

TYPE OF Rice HOMES
Single-Family 85.2
Townhomes 3.9
Small Apt. Buildings 2.3
Apt. Complexes 8.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Rice HOMES
No Bedroom 2.30
1 Bedroom 2.47
2 Bedrooms 17.31
3 Bedrooms 36.75
4 Bedrooms 35.16
5 or more bedrooms 6.01

Popular Neighborhoods in Rice

Zip Codes in Rice, MN