Rice Lake, WI Housing Market
AI-powered market intelligence for the Rice Lake, WI metro area.
PropertyIQ Scores
Rice Lake, WI Market Analysis
Market Overview
Rice Lake, WI presents a moderate housing market, reflected in its PropertyIQ Score of 56 out of 100. The score’s top drivers are a median days on market of 55 days and a share of listings with a price cut of 18.7%. These metrics suggest a market where homes typically stay listed for nearly two months and nearly one in five sellers has adjusted the asking price, pointing to a measured pace and some buyer leverage without signaling a distressed market.
Compared with statewide benchmarks, Rice Lake’s median home value of $373,725 is well above Wisconsin’s median home value of $343,798. However, the local rent index of $859 is significantly lower than the state average of $1,045, and the median household income of $64,619 trails Wisconsin’s median household income of $75,670. The unemployment rate is 3.3%, identical to the state average. This mix creates an unusual profile: home prices are higher than the state norm, while local rents and incomes are lower, which can make affordability tighter even with a stable labor market.
Inventory also shapes the market. Rice Lake has 186 homes for sale, giving buyers a meaningful number of options. Population growth data is not available in this dataset, so migration-driven demand cannot be measured here. Taken together, the score and metrics position Rice Lake as a moderate market with realistic pricing, steady employment, and enough inventory to encourage buyer patience.
Key Trends
First, home values are elevated relative to the state but nearly flat year over year. The median home value is $373,725, compared with the state median of $343,798, yet the year-over-year change is only $8 in absolute terms. Second, the rental market is relatively soft by state standards. Rice Lake’s rent index of $859 is well below the Wisconsin average of $1,045, indicating lower local rental income potential. Third, affordability is constrained by an income gap. The median household income of $64,619 is about $11,000 below the state average of $75,670, while the median home value is about $30,000 above the state median. Fourth, listing conditions point to a balanced-to-soft market. The median days on market is 55 days, 18.7% of listings have had a price cut, and there are 186 homes for sale, giving buyers time and options.
Who Is This Market For
Rice Lake is likely to suit patient primary-home buyers and move-up buyers who can take advantage of 186 homes for sale and a market where 18.7% of listings have had a price cut. The median days on market of 55 days gives buyers time to tour and negotiate without the extreme urgency seen in stronger seller markets. At the same time, first-time buyers may find conditions mixed: the median home value of $373,725 is above the state median, while the area median household income of $64,619 is below the state benchmark of $75,670. That income gap could limit some first-time buyer budgets.
For investors, the picture is more cautious. The rent index of $859 is well below the state average of $1,045, while the median home value is higher than the state median. That combination may make cash-flow-oriented rental investing less attractive, especially with home values only $8 higher year over year. Investors who prioritize rental income may find better alignment in markets with lower purchase prices relative to rents, though the stable 3.3% unemployment rate does support a steady tenant base. Overall, this market appears better suited to owner-occupants who want a balanced buying environment than to investors seeking strong near-term cash flow or rapid price appreciation.
Outlook
The data points to a steady, moderate housing market in Rice Lake. With a median days on market of 55 days, an 18.7% share of listings with a price cut, and 186 homes for sale, buyers are likely to retain some negotiation room. The annual home value change of $8 indicates that prices are not currently rising at a rapid pace, so sellers may need to keep expectations grounded. The unemployment rate of 3.3%, matching the state average, supports continued employment stability, which is a positive for demand. However, affordability is likely to remain a constraint because median household income of $64,619 is below the state average of $75,670, while the median home value is above the state benchmark. Population growth is not available, so the outlook cannot rely on demographic expansion. Based solely on the provided figures, Rice Lake’s market is likely to continue in a balanced-to-soft pattern, with modest buyer leverage and low price growth unless inventory or income conditions change.
AI-generated analysis based on current market data. Last updated September 7, 2026.
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Rice Lake, WI market data
Rice Lake, WI Housing Market Overview
Rice Lake, WI's median home value is $198K. Homes here sell in a median 55 days. Its PropertyIQ Score of 56 sits right around the state average of 50.
Whether you're considering buying a home, investing in rental property, or weighing entry timing in the Rice Lake, WI area, the PropertyIQ Score gives you a single, data-first read on relative market strength. It is validated against actual market outcomes from 2001 to 2023, with a positive score-to-return relationship in every validated year across WI and every other US state.
Midwestern housing markets are characterized by affordability and economic diversification. From manufacturing hubs undergoing tech-sector transitions to university towns with stable demand, the region offers value-oriented opportunities with lower entry costs than coastal markets. Within the Midwest, Rice Lake, WI's PropertyIQ Score of 56 tracks near the Midwest norm.
The PropertyIQ Score for the Rice Lake, WI market is built from four inputs: Zillow home-value momentum over twelve months, Zillow home-value momentum over three months, the median days listings spend on the market (Realtor.com), and the share of listings with a price cut (Realtor.com). The score runs on a 1 to 99 scale computed across all metro markets nationally and calibrated so 50 equals the state average — a score above 50 means this market is positioned to outperform its state, and a score below 50 means it is set to lag.
View Rice Lake, WI's complete market profile including historical price trends, score history, and AI-generated analysis. Compare this market against any other US metro to find the best opportunities for your investment strategy.
Counties in the Rice Lake, WI metro area
ZIP codes in the Rice Lake, WI metro area
View all 17 →Market data through July 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Rice Lake, WI a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Rice Lake, WI currently scores 56, a steady-momentum reading that leaves it tracking close to its state average. For buyers, a balanced market means neither side holds a decisive edge, giving you time to shop carefully without racing the clock. Backing that up, the median home value here is $198K. So whether Rice Lake, WI is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Rice Lake, WI?
Rice Lake, WI's PropertyIQ Score is 56, indicating steady momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 56 places Rice Lake, WI above its state benchmark.
How quickly do homes sell in Rice Lake, WI?
In Rice Lake, WI, homes sell in a median of 55 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 19% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Rice Lake, WI market data is refreshed on a monthly cycle, with the latest figures current through July 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.