Department of Numbers

Rice County Minnesota Residential Rent and Rental Statistics

The median monthly gross residential rent in Rice County MN was $852 in 2017 according to the Census ACS survey.1 Average gross rent in Rice County was $1,006 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Rice County median and average rent data will be released in September of 2019.

Data is also available below for Rice County rental vacancy rates, Rice County rent as a percent of median income and the fraction of renters in Rice County.

Show dollars as: Nominal Real

Real Gross Rent in Rice County Minnesota (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Minnesota Median Gross Rent $939 +1.40% +6.70%
Rice County MN Median Gross Rent $852 +1.19% +9.09%

Rice County MN Real Gross Rent Trends

At $852, real median gross rent in Rice County was at its highest level in 2017 since the series began in 2013. At $1,006, real average gross rent in Rice County was at its highest level in 2017 since the series began in 2013.

Real Gross Rent: Rice County MN Median, Rice County MN Average, Minnesota Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Rice County

Date US
Median
Minnesota
Median
Rice County MN
Median
Rice County MN
Average
2017 $1,012 $939 $852 $1,006
2016 $996 $926 $842 $886
2015 $987 $914 $756 $785
2014 $956 $880 $781 $812
2013 $924 $850 $744 $732
2012 $912 $839
2011 $912 $824
2010 $927 $828
2009 $931 $837
2008 $947 $843
2007 $899 $810
2006 $909 $835

Historical Rental Vacancy Rate data for Rice County

Date US Minnesota Rice County MN
2017 6.18% 4.31%
2016 5.89% 4.01%
2015 5.85% 4.35%
2014 6.32% 4.53% 11.42%
2013 6.49% 3.94%
2012 6.77% 4.10%
2011 7.40% 5.37%
2010 8.17% 5.96%
2009 8.43% 5.97%
2008 7.86% 5.76%
2007 7.87% 7.07%
2006 7.70% 8.06%

Rent as a Fraction of Income

Using median household income data for Rice County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rice County, median monthly gross rent as a fraction of median household income was 15.97% in 2017 according to the ACS.

Rice County Minnesota Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Minnesota 16.48% -0.21% -0.29%
Rice County MN 15.97% +1.58% +0.84%

Trends in Rice County MN Rent as a Fraction of Income

Rice County renters paid 15.97% of median household income towards the median monthly gross rent in 2017. This is the highest fraction of median household income going to rent since the series originated in 2013.

Fraction of Income towards Rent: Rice County MN, Minnesota, US

Percent of median household income going towards median monthly gross rent in Rice County Minnesota

Historical Data for Annual Rent as a Fraction of Income in Rice County Minnesota

Date US Minnesota Rice County MN
2017 20.13% 16.48% 15.97%
2016 20.43% 16.68% 14.39%
2015 20.63% 16.78% 15.39%
2014 20.89% 16.77% 15.13%
2013 20.78% 16.45% 14.91%
2012 20.65% 16.56%
2011 20.70% 16.58%
2010 20.50% 16.53%
2009 20.12% 16.33%
2008 19.00% 15.37%
2007 18.66% 15.29%
2006 18.90% 15.57%

Renter Fraction in Rice County Minnesota

You can calculate the renter fraction in Rice County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Rice County as a fraction of total Rice County households. In 2017 26.02% of households were renters according to Census ACS data.

Rice County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Minnesota 28.43% -0.27% +0.12%
Rice County MN 26.02% +0.10% +2.95%

Trends in the Rice County MN Renter Fraction

The Rice County household renter fraction peaked in in 2015 at 28.19% and is now 2.17% below that level. The origin year for the series is 2013.

Fraction of Renting Households: Rice County MN, Minnesota, US

Fraction of renters in Rice County

History of Rice County Renter Fraction

Date US Minnesota Rice County MN
2017 36.13% 28.43% 26.02%
2016 36.88% 28.70% 25.92%
2015 36.97% 29.06% 28.19%
2014 36.90% 28.31% 23.07%
2013 36.50% 28.45% 21.20%
2012 36.09% 28.56%
2011 35.42% 27.24%
2010 34.65% 26.98%
2009 34.13% 26.29%
2008 33.36% 25.34%
2007 32.80% 24.76%
2006 32.73% 23.70%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.