Commercial Real Estate Market in Rice, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
5 active listings and 164 off-market properties in Rice, MN.
Market Trends
Rice, MN spans 101.8 square miles in Benton County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Rice, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Rice, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Rice, MN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Rice, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 67.6%
- Industrial 19.4%
- Commercial 13%
Largest Zones share of zoned land by district
Agricultural
Single Family Residence
Light Industrial
Rural Residence
General Business
Rice, MN zones 3,656 acres across 9 districts. Commercial zoning covers 13% of zoned land, residential 67.6% and industrial 19.4%. The largest single district is Agricultural at 40.3%. For commercial buyers the practical constraint is that only 32.4% of land carries a commercial or industrial designation.
Agricultural (AG)
The district is also appropriate for transitional areas in which some land owners may wish to transfer land from agricultural to residential uses
Market overview
Demographics & Economy
Rice, MN has 7,164 residents in 2,899 households. Density runs 70 people per square mile. Median household income here is $102,429 and median gross rent $1,222 a month.
7,164
Population
2,899
Households
2.5
Avg Household Size
38
Median Age
26%
College-Educated
95%
High-School Grad
101.8 sq mi
ZIP Area
70
Density / Sq Mi
$102,429
Median Household Income
$54,418
Median Earnings
$1,222
Median Rent
$270,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Saint Stephen | — | — |
| Royalton | — | — |
| Sartell | — | — |
| Bowlus | — | — |
Commercial property in Rice, MN asks $244/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Rice?
Commercial property in Rice, MN asks an average of $244 per square foot. The 4 most recent recorded sales traded at a median of $54/SF, so asking sits 354% above the achieved median.
What zoning applies to commercial property in Rice?
Rice, MN zones 3,656 acres across 9 districts, of which 13% is commercial and 19.4% industrial. The largest single district is Agricultural at 40.3% of zoned land. The district is also appropriate for transitional areas in which some land owners may wish to transfer land from agricultural to residential uses Residential zoning covers 67.6% and open space 0%.
Where does Realmo's Rice market data come from?
Realmo compiles Rice, MN figures from 8 recent recorded sales, 5 active sale listings, 164 tracked off-market properties, the current Rice zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 5 active for-sale and 0 active for-lease listings in Rice, MN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 3,656 zoned acres across 9 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
