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Rice County, MN

RANK #364 / 996  ·  POP 67,152  ·  MN

PROJECTED GROWTH: +1.3%

Rice County sits in the middle of the pack — stable but not accelerating.

[01] Why Rice County?

Rice County, Minnesota, is often recognized for Northfield, a town known for successfully repelling the infamous James-Younger Gang's bank robbery in 1876. Located in the south-central part of Minnesota, the county is approximately 30 minutes south of the Twin Cities of Minneapolis and St. Paul, with Interstate 35 providing a direct commute. The Cannon River flows through the county, contributing to a landscape of low, rolling hills and numerous lakes. Outdoor recreation is accessible with 12 county parks, including the Cannon River Wilderness Area, offering hiking, horseback riding, and canoeing.

Life in Rice County blends agricultural roots with educational opportunities. Faribault, the county seat, and Northfield are home to several colleges and academies, including Carleton and St. Olaf. The county's economy is supported by a diverse workforce, with many residents commuting within the county or to the nearby metropolitan area. Recent economic developments show a focus on attracting and retaining businesses in sectors such as technology, healthcare, and green industries, with incentives offered for private development.

[02] Market Snapshot

Housing Ratio
6.0x

Above national median (4.7x)

GDP Growth
+5.8%

Well above national median

Home Prices
+3.2%

Outpacing national median

Climate & Terrain
-2.2

Below-average climate & terrain

Price/Rent
14x

Above national median (13x)

Housing is fairly valued at 6.0x relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Rice County U.S. National

The Numbers

DEMOGRAPHICS
Population
67,152
+0.53% YoY
Median Household Income
$78,214
Median Home Value
$279,700
+3.17% 12mo
Median Rent
$1,021
Average Annual Pay
$60,604
+7.5% YoY
Employment
26,196
+2.5% YoY
Income-to-Home-Value
0.2796
More affordable than average
Migration Inflow
5.13%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$305,000
Days on Market
66
Slower market
Months of Supply
3.0
Balanced market
Sale-to-List Ratio
98.8%
Near asking price
Sold Above List
20.5%
Listings w/ Price Drops
20.3%
Building Permits (2024)
96
Single-Family Permits
88

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$980M
TOTAL
PROJECT AMOUNT STATUS
Archer Datacenters Faribault Campus
Archer Datacenters
$500M Proposed
North Fork Wind Farm
EDP Renewables
$280M Proposed
Community Solar Portfolio (Multiple Projects)
Various
$50M Operating/Under Construction
I-35/County Road 9 Interchange
Rice County/Minnesota Department of Transportation
$50M Proposed
County Road 20 Project (Cannon City Boulevard Phase I)
Rice County
$50M Under Construction
Twin Oaks Housing Project
Rice County Housing & Redevelopment Authority, Rice County Habitat for Humanity, Three Rivers Community Action
$50M Under Construction/Partially Completed

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +5.8% 89 percentile
Population Growth +0.5% 54 percentile
Income Growth +9.6% 74 percentile
Vacancy Rate 0.4% 97 percentile
Home Price Change +3.2% 74 percentile
Rent Growth +4.0% 67 percentile
Price/Rent 14x 44 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Rice County, MN a good place to move to?

Rice County has a Boom Town Index score of 64/100, ranking #364 among 996 U.S. counties. With job growth at +2.5% and a median household income of $78,214, it's an above-average county on economic indicators.

Is Rice County affordable?

The median home value in Rice County is $279,700 with median rent at $1,021/month. The income-to-home-value ratio is 0.2796, which is more affordable than the national average.

Is Rice County growing or shrinking?

Population growth: +0.5% year-over-year. Job growth: +2.5%. Home values changed +3.2% in the past 12 months.

Are people moving to Rice County?

Yes — 5.13% of Rice County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Wayne County, OH 74 Franklin County, MO 74 Nye County, NV 74 Erie County, OH 74 Schuylkill County, PA 74 St. Clair County, IL 74 Elkhart County, IN 74 Linn County, IA 74