Rice, MN Profile: Facts & Data

The primary coordinate point for Rice is located at latitude 45.7519 and longitude -94.2203 in Benton County. The formal boundaries for the City of Rice encompass a land area of 5.66 sq. miles and a water area of 0.04 sq. miles. Benton County is in the Central time zone (GMT -6).

The City of Rice has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Rice, MN Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	2,018 (100%)
Population in Households	2,018 (100.0%)
Population in Families	1,679 (83.2%)
Population in Group Quarters¹	0
Population Density	354
Diversity Index²	17


INCOME
Median Household Income	$99,883
Average Household Income	$100,079
% of Income for Mortgage⁴	15%
Per Capita Income	$35,261
Wealth Index⁵	62
Socioeconomic Status Index⁶	Moderate (62.8)

HOUSING
Total HU (Housing Units)	725 (100%)
Owner Occupied HU	603 (83.2%)
Renter Occupied HU	108 (14.9%)
Vacant Housing Units	14 ( 1.9%)
Median Home Value	$235,000
Average Home Value	$251,575
Housing Affordability Index³	165

HOUSEHOLDS
Total Households	711
Average Household Size	2.84
Family Households	518
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Rice, MN - Peer Comparisons by Rank and Percentile

The table below compares Rice to the other 914 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	0.51%	0.39%
Households	0.54%	0.50%
Families		0.42%
Median Household Income		1.00%
Per Capita Income		2.19%
Owner Occupied HU		0.78%

Variable Description	Rank	Percentile
Total Population	# 262	71st
Population Density	# 583	36th
Median Household Income	# 174	81st
Housing Affordability Index	# 829	91st
Per Capita Income	# 697	24th
Diversity Index	# 602	34th

Rice, MN Profile: Facts & Data

Rice, Minnesota - Basic Facts

Rice, MN Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Rice, MN - Peer Comparisons by Rank and Percentile

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Benton County