Cost of Living in Rice County, Minnesota
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Rice County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Rice County ranks #1,673 of 3,144 counties for affordability (bottom 47%)
Data Story
About Cost of Living in Rice County, Minnesota
Rice County Rents Rise with Incomes
Rice County's rent-to-income ratio of 15.2% sits above Minnesota's 14.5% average and the national benchmark, despite a median household income of $82,792—notably higher than the national median. Median rent of $1,046 per month substantially exceeds Minnesota's $915 average, signaling a college-town affordability premium.
Mid-Pack Affordability in Minnesota
Rice County ranks in the middle tier of Minnesota counties for rental affordability, pressured upward by proximity to Mankato and its role as an educational hub. The 15.2% rent-to-income ratio reflects demand from students and workers drawn to the area's employers and institutions.
Costlier Than Southwest Minnesota
Rice County's $1,046 rent significantly exceeds nearby rural counties like Renville ($760), Rock ($745), and Sibley ($858), positioning it closer to metro-area pricing. Homebuyers face a similar premium, with median home values of $298,500 far outpacing Renville's $151,900 and Rock's $201,600.
Higher Incomes Fund Higher Housing Costs
Rice County renters pay $1,046 monthly while homeowners spend $1,399, consuming 15.2% and 16.9% of income respectively at the $82,792 median household level. The higher income here absorbs what would be affordability strain in lower-wage counties, though both tenure groups pay well above state medians.
Rice County for Skilled Workers
If your income matches Rice County's $82,792 median—or exceeds it—the county's rental and ownership costs become manageable despite above-average ratios. Compare Rice to pricier metros like Scott County ($120,247 median income) or Sherburne County, and you'll see a middle path for professionals seeking college-town amenities without metro-level costs.
Cost of Living Advisory: Rice County
Affordability Verdict
Housing in Rice County is affordable. The median rent is $1,046/month against a median household income of $82,792, putting rent at 15.2% of income.
Rent vs. Own
At $1,046/month rent versus $1,399/month in owner costs, renting is roughly $353/month cheaper — a 25% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $41,840/year. For owner costs at the 28% rule, the required income is roughly $59,957/year. With a median household income of $82,792, most households can comfortably afford rent here. Notably, 28.0% of renter households in Rice County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Minnesota, Rice County is more affordable than Beltrami County by roughly 6% ($1,046/mo vs $991/mo).
Affordability Calculator
See how your income compares to housing costs in Rice County
Rent Burden
15.2%
of gross income
Max Housing (28% Rule)
$1,932
per month
Owner Cost Burden
20.3%
of gross income
The median home in Rice County may be a stretch
Median home value is $298,500. Estimated monthly cost: $2,383 vs. your max of $1,932.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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