Home Insurance in Rice, Minnesota
With a median home value of $266,600, Rice is close to the Benton County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Rice was built around 2003. About 7% of homes were built before 1960, about 11 points below Benton County's 18%.
The housing stock in Rice is 94% single-family homes, 4% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
In Rice, about 76% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 89% of occupied homes in Rice are owner-occupied.
Most homes in Rice - 75% - are primarily heated with natural gas.
Benton County had 80 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is hail (Relatively Moderate). See the full Benton County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Minnesota carries a statewide average premium of $1,988 per year.
Key figures
| Median home value | $266,600 |
|---|---|
| Median year built | 2003 |
| Owner-occupied share | 89% |
| Share of owner-occupied homes with a mortgage | 76% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Benton County | 80 |
| Home insurance premium | $1,988 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)