Living in Rice Lake, Minnesota
Cost of living, income, home prices, rent and demographics of Rice Lake · Census data 2020–2024
Rice Lake has 244 residents with a median age of 33.1. The median household income is $41,136 (54% lower than the Minnesota median), the median home value is $18,800, the median rent is $500/month.
Rice Lake is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Rice Lake at a glance
- Population
- 244
- Median age
- 33.1State: 38.8
- Median household income
- $41,136State: $89,062
- Median home value
- $18,800State: $329,300
- Median rent
- $500/moState: $1,280
- Homeowners
- 60%
- Bachelor's degree or higher
- 2.9%
- Average commute
- 27 min
Is Rice Lake a good place to live?
Pros: Home values 94% lower than the state median.
Cons: Median household income 54% lower than the Minnesota median; an average commute of 27 minutes; unemployment of 12.2%; a poverty rate of 48%.
The weather is best in June to September.
Cost of living in Rice Lake
Housing is the biggest part of the cost of living. In Rice Lake the median home value is $18,800, 94% lower than the U.S. median. Renters pay a median of $500 per month, which is 16.8% of household income. Homeowners with a mortgage pay $1,500 a month in housing costs.
Rice Lake median household income
The median household income in Rice Lake is $41,136 and the income per person is $17,828. 48% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Rice Lake: homes for sale and rent
- Housing units
- 94
- Owner-occupied
- 60%
- Renter-occupied
- 40%
- Vacant
- 14.9%Includes seasonal homes
- Median year built
- 1988
- Average household size
- 3.05
Rice Lake demographics
- Population
- 244
- Median age
- 33.1
- Under 18
- 34.8%
- 65 and older
- 16%
- Households
- 80
- Foreign-born
- 0%
- Veterans
- 2.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Rice Lake ›
Education in Rice Lake
2.9% of adults 25 and older in Rice Lake have a bachelor's degree or higher (Minnesota: 39.4%), and 2.2% have a graduate or professional degree.
Jobs and commute in Rice Lake
- Unemployment rate
- 12.2%State: 4.1%
- Average commute
- 27 minState: 23 min
- Work from home
- 8.2%
- Drive alone
- 68.9%
- Public transit
- 0%
- Walk to work
- 4.9%
- Homes with broadband
- 81.3%
Rice Lake vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Rice Lake | 244 | $41,136 | $18,800 | $500 |
| Naytahwaush | 478 | $37,917 | $88,800 | $383 |
| Bagley | 1,248 | $44,896 | $138,600 | $750 |
| Twin Lakes | 197 | $72,500 | $244,100 | — |
| Shevlin | 148 | $62,361 | $87,000 | — |
| Fosston | 1,374 | $52,500 | $151,700 | $790 |
More for people moving to Rice Lake
Rice Lake ZIP code ›Weather and climate ›Living in Rice Lake: FAQ
What is the median household income in Rice Lake, MN?
The median household income in Rice Lake is $41,136, 54% lower than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Rice Lake?
The median home value in Rice Lake is $18,800, compared with $329,300 in Minnesota.
How much is rent in Rice Lake?
The median gross rent in Rice Lake is $500 per month, about 16.8% of household income.
Is Rice Lake, MN a good place to live?
Pluses: home values 94% lower than the state median. Minuses: median household income 54% lower than the Minnesota median; an average commute of 27 minutes; unemployment of 12.2%; a poverty rate of 48%.
What is the median age in Rice Lake?
The median age in Rice Lake is 33.1 years (Minnesota: 38.8).
How long is the commute in Rice Lake?
The average commute to work in Rice Lake is 27 minutes; 8.2% of workers work from home.
What is the unemployment rate in Rice Lake?
The unemployment rate in Rice Lake is 12.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Rice Lake?
2.9% of adults in Rice Lake have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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