Rice County Real Estate and Livability Trends
Rice County, Minnesota has seen a considerable boost in median home values, hitting $279,700 in 2022, which edges out the national median. This rise comes alongside a notable uptick in real estate taxes to $4,328.99 per tax return by 2021, potentially indicating increasing property values and demand. The sharp hike in average taxable income per tax return, jumping from $57,923.77 in 2013 to... Read more
Rice County Market Trends
Median home values in Rice County, Minnesota have climbed considerably over the past eight years, reaching $279,700 in 2022, which surpasses the national median. Real estate taxes have also seen a notable increase over the past decade, with an average jump to approximately $4,328.99 per tax return by 2021, potentially signaling rising property values and growing demand. While energy tax credits... Read more
Median Value of Occupied Housing Units in Rice County, Minnesota Over the Last 8 Years
Over the past eight years, median home values in Rice County, Minnesota have seen substantial growth, reaching $279,700 in 2022. This outpaces the national median of $179,400 and holds a steady comparison to the state median of $286,800. The steady climb—from $185,200 in 2015—highlights the area’s increasing appeal and could suggest a thriving real estate market. Such trends indicate potential opportunities for investors and homebuilders, while providing residents and prospective movers with insights into property value trajectories.
Residential Energy Tax Credit Per Tax Return in Rice County, MN Over the Last 9 Years
Rice County, Minnesota has seen quite the fluctuation in average residential energy tax credit per tax return over the last nine years. While the values started around $360.71 in 2013, they rose steadily for a few years, peaking dramatically at $3,537.50 in 2018 before dropping to more stable, though elevated, levels around $1,010.00 by 2021. This variation suggests growing but inconsistent investment in residential energy efficiency, indicating potentially lucrative opportunities for real estate investors, property developers, and energy-conscious buyers in the area.
Average Real Estate Taxes Per Tax Return in Rice County, MN Over the Last 10 Years
Over the past decade, Rice County, Minnesota has experienced a notable increase in average real estate taxes per tax return. This upward trend, with a jump from approximately $2,674.36 in 2012 to around $4,328.99 in 2021, could potentially signal rising property values and possibly increased demand in the area. This matters for prospective investors, homeowners, and real estate professionals because it may indicate both a growing market and higher carrying costs. People planning to build or appraise property in Rice County should consider these escalating taxes when evaluating total expenditures.
Percentage of Farm Returns in Rice County, MN Over the Last 10 Years
Rice County, Minnesota, shows a gradual decline in the percentage of farm returns over the last decade, dropping from approximately 4.15% in 2012 to roughly 3.17% in 2021. This trend could suggest a shift in agricultural viability or changes in land use patterns. Potential investors and property developers might find this data useful for understanding long-term agricultural investment viability, zoning possibilities, or land value trends in Rice County. This slight yet consistent decrease might also appeal to those interested in transforming underutilized farm areas for alternative uses.
Number of Mortgages by Occupancy Type in Rice County, MN Over the Last 5 Years in Rice County
Over the past five years, Rice County, Minnesota has seen fluctuations in the number of mortgages by occupancy type. The data reveals a generally steady interest in investment properties and second residences, while mortgages for principal residences, though dominant, experienced a significant dip in 2022. These shifts can signal changes in local economic conditions, demand for housing, and investment opportunities, which are crucial for investors, realtors, and developers to consider. Appraisers and insurance agents might also need to adjust their valuations and risk assessments based on these evolving trends.
Economic Outlook
Rice County, Minnesota has seen a robust increase in average taxable income per tax return, from $57,923.77 in 2013 to $82,525.39 in 2021, hinting at an upward economic trend that could attract investors and new residents. Over the same period, the steep rise in state and local income taxes, from $6,287.83 in 2012 to $15,054.63 in 2021, suggests a shifting economic landscape that potential investors should consider. While the county's average total tax liability fluctuated, peaking at... Read more
Average Taxable Income per Tax Return in Rice County, MN over the last 9 years
Over the past nine years, Rice County, Minnesota has seen a notable rise in average taxable income per tax return. From $57,923.77 in 2013, the figure gradually increased to $82,525.39 by 2021. Such growth may indicate an upward economic trend, potentially making this area more attractive for investors and new residents. This steady increase could also influence property values and local real estate market dynamics, and it might be of interest to appraisers and insurance agents for assessing premiums and risk.
Average State and Local Income Taxes Per Tax Return in Rice County, MN Over the Last 10 Years
Over the past decade, Rice County, Minnesota has seen a significant rise in average state and local income taxes per tax return, escalating from $6,287.83 in 2012 to $15,054.63 in 2021. This sharp incline suggests possible increased governmental revenue needs or changes in tax policy. For potential investors or residents, understanding these trends could indicate a shifting economic landscape in the region, potentially influencing decisions on property investment, business ventures, or relocation.
Average Total Tax Liability Per Tax Return in Rice County, MN Over the Last 10 Years
Rice County, Minnesota saw fluctuations in average total tax liability per tax return over the past decade, with amounts ranging between $8,901.42 and $12,902.35. Notably, there was a significant spike in 2021, reaching $12,902.35, which could indicate changes in income levels or tax policies. For those eyeing investment, relocation, or property development in the area, this variability in tax liability suggests a dynamic economic landscape worth monitoring for potential implications on property values and overall financial planning.
Cost of Living in Rice County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,477 | $1,653 | $2,085 | $1,589 | $1,763 |
| 1 adult 4 children | $1,477 | $1,350 | $1,628 | $1,589 | $1,942 |
| 2 adults 3 children | $1,477 | $1,350 | $1,793 | $1,589 | $1,475 |
| 1 adult 3 children | $1,477 | $1,102 | $1,335 | $1,589 | $1,632 |
| 2 adults 2 children | $1,073 | $1,105 | $1,500 | $1,384 | $1,099 |
| 1 adult 2 children | $1,073 | $826 | $1,043 | $1,384 | $1,183 |
| 2 adults 1 child | $1,073 | $874 | $1,207 | $717 | $956 |
| 1 adult 1 child | $1,073 | $564 | $750 | $717 | $844 |
| 2 adults | $815 | $702 | $915 | $0 | $726 |
| 1 adult | $795 | $383 | $457 | $0 | $615 |
Safety trends & Data
Rice County, Minnesota's property crime rates have shown some interesting trends over the past five years, particularly with larceny-theft peaking at 151 incidents in 2022. Burglary, on the other hand, has seen a considerable decline, with just 5 cases in 2022 compared to 21 in 2019. Vehicle theft remains relatively stable, fluctuating between 5 and 12 incidents annually. Vandalism and fraud have modest variations but usually linger around 20 incidents per year. These patterns could be... Read more
Property Crime Trends in Rice County, MN Over the Last 5 Years
Over the past five years, Rice County, Minnesota has experienced fluctuations in property crime rates. Larceny-theft remains consistently high, peaking at 151 incidents in 2022. Burglary rates have generally declined, with just 5 cases in 2022, dropping from 21 in 2019. Vehicle theft seems relatively stable, holding a low range between 5 and 12 incidents yearly. Vandalism and fraud have shown modest variations but also tend to hover around 20 incidents annually. This data could be crucial for anyone eyeing property investments, assessing insurance risks, or planning community safety initiatives in Rice County.
Demographics
Rice County, Minnesota, shows a relatively balanced gender distribution with a slight male majority. Educational attainment varies, with a significant portion of the adult population holding at least a high school diploma and a notable number pursuing higher education degrees. Age-wise, the county has a diverse range, from young children to older adults, ensuring a mix of energy and experience. The racial composition seems predominantly white, though there's an appreciable presence of Black or... Read more
Race Distribution in Rice County, Minnesota (2022)
Educational Attainment in Rice County, Minnesota (2022)
Age Distribution in Rice County, Minnesota
Citizen Population in Rice County, Minnesota (2022)
Political Trends & Data
Rice County, Minnesota experienced a tight race in the 2020 U.S. Presidential Election, with both Republicans and Democrats garnering close to 49% each. Minor parties made a modest impact, with Libertarians attracting just over 1% and Greens around 0.3%, hinting at a small yet existent interest in alternative political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Rice County, Minnesota saw a closely contested 2020 U.S. Presidential Election with Republicans and Democrats nearly tied, each securing around 49% of the vote. Minor parties, including Libertarians and Greens, captured a small but notable portion, with Libertarians receiving just over 1% and Greens around 0.3%. Other parties collectively accounted for about 1%, underscoring a slight but present interest in alternative options beyond the two major parties.
48.94% of voters voted for the Republican party in the 2020 Presidential Election
48.76% of voters voted for the Democrat party in the 2020 Presidential Election
1.04% of voters voted for the Livertarian party in the 2020 Presidential Election
0.32% of voters voted for the Green party in the 2020 Presidential Election
0.93% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Rice County, Minnesota's student-to-teacher ratio has fluctuated significantly, peaking at nearly 21 students per teacher in 2022, compared to a national average of 14. Previously, the ratio hovered around 11 students per teacher, suggesting smaller class sizes and potentially more individualized attention, which could attract investors, educators, and parents. The recent shift closer to the national average in 2023 may indicate increasing enrollment or changes in... Read more
Student-to-teacher ratio in Rice County, Minnesota over the last 10 years
Over the past decade, the student-to-teacher ratio in Rice County, Minnesota has seen noticeable fluctuation, with the most dramatic change occurring in 2022, reaching a high of nearly 21 students per teacher compared to the national average of 14. Prior to this spike, the ratio generally hovered around 11 students per teacher, indicating smaller classroom sizes that could appeal to investors, educators, and parents seeking more individualized attention for students. The recent convergence closer to the national average in 2023 may signal either increasing enrollment or shifts in staffing resources. These variances in classroom dynamics are crucial for real estate agents, appraisers, and those relocating, as they impact local education quality and regional desirability.
