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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Rice Lake, WI Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Rice Lake, WI Housing Market Trends

With 9,020 people, 3,837 houses or apartments, and a median cost of homes of $226,673, house prices in Rice Lake are solidly below the national average.

Single-family detached homes are the single most common housing type in Rice Lake, accounting for 55.82% of the city's housing units. Other types of housing that are prevalent in Rice Lake include large apartment complexes or high rise apartments ( 22.19%), duplexes, homes converted to apartments or other small apartment buildings ( 16.01%), and a few row houses and other attached homes ( 4.18%).

The most prevalent building size and type in Rice Lake are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.87% owning and 47.13% renting.

There is a lot of housing in Rice Lake built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Rice Lake built between 1940-1969 ( 27.60%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.63%). There's also some housing in Rice Lake built before 1939 ( 12.45%).

Rice Lake Home Appreciation Rates

Real estate appreciation rates in Rice Lake's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.10% during the period.

Appreciation rates are so strong in Rice Lake that despite a nationwide downturn in the housing market, Rice Lake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rice Lake appreciation rates continue to be some of the highest in America, at 7.75%, which is higher than appreciation rates in 82.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rice Lake. Rice Lake appreciation rates in the latest quarter were at 2.60%, which equates to an annual appreciation rate of 10.82%.

Importantly, this makes Rice Lake one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Wisconsin, our data show that Rice Lake's latest annual appreciation rate is lower than 70% of the other cities and towns in Wisconsin.

Average Home Values

Median Home Value

$226,673

Rice Lake, WI Home Prices
> $1,309,000
$982,001 - $1,309,000
$655,001 - $982,000
$524,001 - $655,000
$393,001 - $524,000
$262,001 - $393,000
$131,001 - $262,000
$65,001 - $131,000
$0 - $65,000
1.1%
1.1%
0.0%
0.0%
3.5%
3.5%
6.0%
6.0%
5.6%
5.6%
17.5%
17.5%
49.1%
49.1%
10.1%
10.1%
7.1%
7.1%
0% 100.0%
% of Homes
Very Low

for Wisconsin

Average

for nation

Number of Homes And Apartments:

3,837

Rice Lake Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,277 / per month

Homeownership Rate

Owners
Renters
52.9%
52.9%
47.1%
47.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.8%
7.8%
92.2%
92.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
18.6%
18.6%
41.3%
41.3%
27.6%
27.6%
12.5%
12.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
55.8%
55.8%
4.2%
4.2%
16.0%
16.0%
22.2%
22.2%
1.8%
1.8%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.0%
3.0%
12.5%
12.5%
31.1%
31.1%
36.5%
36.5%
13.6%
13.6%
3.3%
3.3%
0% 100.0%
% of Homes

Popular Neighborhoods in Rice Lake

Zip Codes in Rice Lake, WI