Real Estate Investing in Rice Lake, Minnesota (55803)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 55803 (Rice Lake, MN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.8% of homes vacant — above national norms.
What’s happening in Rice Lake, MN (55803)?
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Market Analysis: 55803 Rice Lake
Not every below-median market is a bargain. Rice Lake's 55803 ZIP stands at signals that favor experienced operators who can absorb the risk $367K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $367K asset, 55803 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader MN picture, 55803 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Demographically, 55803 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 55803 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Rice Lake:
Property Strategy for 55803
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $200,662 | $1,360 | 4.9% | +7.2% | $200,662 |
| 2BR | $283,002 | $1,710 | 4.4% | +7.9% | $141,501 |
| 3BR | $356,032 | $2,340 | 4.7% | +7.2% | $118,677 |
| 4BR | $432,968 | $2,870 | 4.8% | +7.5% | $108,242 |
| 5BR | $499,181 | — | — | +8.4% | $99,836 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 55803 Compare?
| Metric | 55803 | Rice Lake | Duluth, MN-WI | Minnesota |
|---|---|---|---|---|
| Home Value | $366,683 | $366,683 | N/A | $340,597 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 4.9% |
| Avg Rent | $2,342 | $2,342 | N/A | - |
| Cap Rate | 5.0% | 5.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 55803 (Rice Lake, MN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $366,683 |
| Monthly Rent | $2,342 |
| Price-to-Rent | 13.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.7% |
| Cap Rate | 5.0% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +9.6% ▲ |
| 3-Year CAGR | +5.7% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 55803
Population: 17,795
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 55803
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the average home sale price in Rice Lake, MN?
Rice Lake, MN home values average about $367K. That price point suits investors targeting rentals with $2,342/mo in monthly income.
How quickly do rentals get leased in Rice Lake, MN?
Rice Lake, MN sees elevated vacancy, which is reasonable relative to the broader MN rental market.
How qualified is the tenant pool in Rice Lake, MN?
Working renters make up the core of the Rice Lake, MN tenant base. The pool is reasonable for investors targeting long-term holds.
What is it like being a landlord in Rice Lake, MN?
Landlord-friendliness in Rice Lake, MN is balanced. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is real estate in Rice Lake, MN a good investment right now?
Investors tracking Rice Lake, MN will find a 3.0/5 rating supported by $367K median home values and $2,342/mo rents. That profile suits long-term holders targeting consistent returns.
You know 55803 now. You don’t know where it ranks.
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How 55803 ranks in Duluth, MN-WI
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