Rice County, Minnesota home prices
Typical home $350,912 · +2.2% in a year · property tax 0.97%
The typical home in Rice County is worth $350,912, about the same as the Minnesota typical home ($348,778). Values changed +2.2% in the past year and +20.4% over five years. Homeowners here pay a median 0.97% of their home's value in property tax each year ($3,414 on the typical home), versus 1.04% statewide.
Mortgage on the typical Rice County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $70,182 | $280,729 | $1,888 | $0 | $460 | $2,348 | $100,600 |
| 10% down | $35,091 | $315,821 | $2,125 | $132 | $460 | $2,716 | $116,400 |
| 5% down | $17,546 | $333,366 | $2,243 | $139 | $460 | $2,841 | $121,800 |
| 3.5% down (FHA) | $12,282 | $344,556 | $2,318 | $155 | $460 | $2,933 | $125,700 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.97% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Minnesota · part of the Faribault metro area.
Minnesota counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Olmsted County | $349,397 | +3.5% | 1.06% |
| Le Sueur County | $353,278 | +2.6% | 1.06% |
| Douglas County | $347,708 | +3.3% | 0.83% |
| Becker County | $354,781 | +5.0% | 0.69% |
| Isanti County | $339,624 | +2.5% | 1.01% |
| Cass County | $336,524 | +2.7% | 0.56% |
| Ramsey County | $334,747 | +1.7% | 1.21% |
| Otter Tail County | $334,672 | +5.8% | 0.77% |
| Dodge County | $334,610 | +5.6% | 1.11% |
| Crow Wing County | $369,756 | +3.4% | 0.74% |
Frequently asked questions
What is the average home price in Rice County, MN?
The typical home value in Rice County is $350,912 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Rice County?
About $100,600 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Rice County?
The median effective rate is 0.97% of home value a year (Census ACS 2024 5-year estimates).