Home Insurance in Rice County, Minnesota
With a median home value of $320,200, Rice County is close to the Minnesota median.
The typical home in Rice County was built around 1978. About 30% of homes were built before 1960, about 1 point above Minnesota's 29%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
In Rice County, the housing stock is 77% single-family homes, 14% apartments in buildings with 5+ units and 4% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 61% of owner-occupied homes in Rice County have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Rice County has an owner-occupancy rate of 76% and a vacancy rate of 7%; unoccupied homes typically need a different coverage form.
In Rice County, 65% of homes are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
The top hazards for Rice County, per FEMA's National Risk Index, are strong wind (Relatively High), hail (Relatively High) and tornado (Relatively Moderate).
As of September 2026, Rice County has 81 active NFIP flood insurance policies. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
The statewide average premium for a standard HO-3 homeowners policy in Minnesota is $1,988 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $320,200 |
|---|---|
| Median year built | 1978 |
| Owner-occupied share | 76% |
| Share of owner-occupied homes with a mortgage | 61% |
| Top hazards (FEMA National Risk Index) | Strong Wind (Relatively High), Hail (Relatively High), Tornado (Relatively Moderate) |
| Active NFIP flood policies (county) | 81 |
| Home insurance premium | $1,988 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- 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)