RANK #430 / 1001 NAT · #6 / 18 MN · POP 67,917
1YR FORECAST: +1.8%
5YR OUTLOOK: +29%
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.
Rice County is one of 110 U.S. counties in this market profile — stronger than typical on the BoomTown Index. Within this cohort, its recent home-price change of +3.1% runs above the profile's typical +2.4%.
See all 110 Educated Suburban Growth counties →Overvalued relative to economy
Below-average climate & terrain
Above national median (15x)
Housing looks overvalued at 13.4x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Bars show trailing 12-month growth. The dashed Forecast bars are the model's next-12-month projection; the whisker marks the ±1% range (cooling–accelerating).
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
| 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.
Bars show percentile rank among all 1001 counties.
Rice County scores 57/100 on the Boom Town Index, landing in the middle of the pack among 1001 U.S. counties (#430). Median household income is $83,181 and job growth is running at +0.9%. The data points to a county with mixed signals — some positive indicators alongside areas that lag faster-growing peers.
Housing in Rice County is roughly in line with national affordability norms. The median home costs $320,200 and the income-to-home-value ratio sits at 0.26, with rents averaging $1,083/month. Not a bargain, but not a stretch for most local earners either.
Rice County's population is growing — up +0.8% YoY — while the job market is roughly flat (employment change of +0.9%). Home values shifted +3.1% over the past year. In-migration is outpacing local hiring, which often points to remote workers or retirees driving the headcount.
There's a moderate stream of newcomers. About 4.13% of residents moved from another state, which is above average and suggests Rice County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.