Rice is a very small city located in the state of Minnesota. With a population of 2,123 people and two associated neighborhoods, Rice is the 318th largest community in Minnesota. Much of the housing stock in Rice was built relatively recently. The construction of new real estate can often be taken as an indication that the local Rice economy is robust, and that jobs or other amenities are attracting an influx of new residents. This seems to be the case in Rice, where the median household income is $100,208.00.

One interesting thing about the economy is that relatively large numbers of people worked from their home: 8.62% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

Rice is a good choice for families with children because of several factors. Many other families with children live here, making it a place where both parents and children are more likely to develop social ties with other families. The city’s good public school district and large population of college-educated adults provide an environment conducive to academic success. Many people own their own single-family homes, providing areas for children to play and stability in the community. Finally, Rice’s overall crime rate is lower than average for the country.

As is often the case in a small city, Rice doesn't have a public transportation system that people use for their commute.

The percentage of people in Rice who are college-educated is somewhat higher than the average US community of 21.84%: 28.16% of adults in Rice have at least a bachelor's degree.

The per capita income in Rice in 2022 was $34,453, which is middle income relative to Minnesota and the nation. This equates to an annual income of $137,812 for a family of four.

The people who call Rice home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Rice residents report their race to be White, followed by Black or African-American. Important ancestries of people in Rice include German, Polish, Irish, Norwegian, and Swedish.

The most common language spoken in Rice is English. Other important languages spoken here include Polish and Italian.