Rice Lake, WI

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Rice Lake short-term rental market based on reliable data.

Listings

129 / 297

Reliable / Active

Cap Rate

9%

Middle-Earners Gross Yield

Revenue

$24,284

Middle-Earners Revenue

Occupancy

46%

Middle-Earners Occupancy

Home Value

$280,438

Median Home Sale Price

Top Earners

$48,712

Top-Earners Revenue

Rice Lake

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Rice Lake.

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C

Challenging to Investors

Rice Lake Regulations

STRs are allowed in the Town with a 180‑day annual cap and 7‑day minimum for off‑site operators, plus parking, operator proximity, quarterly reporting and state licensing, while the City prohibits STRs in residential zones—severely limiting viable stock and increasing compliance and acquisition risk.

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About Rice Lake

Rice Lake is a small city in Barron County in northwestern Wisconsin, home to roughly 8,500 residents. Set among the wooded lakes and farmland of the Indianhead Country region, the community has the relaxed, outdoorsy character of a classic northern Wisconsin getaway, with a walkable downtown, a popular summer festival scene, and a steady rhythm of seasonal visitors drawn by the surrounding water and forests. The city sits about 65 miles north of Eau Claire and roughly 100 miles northeast of Minneapolis–Saint Paul, making it a natural gateway for travelers heading north toward the lake country of Sawyer, Bayfield, and Douglas counties.

The lake itself is the heart of the community. Rice Lake covers several thousand acres and is well known among anglers for its walleye, northern pike, bass, and especially musky fishing, with a number of public launches and resort docks ringing the shoreline. The water draws boating families in summer and ice fishermen once the ice sets in, and the lakeside parks and city beach are favorite gathering spots during the warm months. Just south of Rice Lake, Ojibwa State Park sits along the Red Cedar River, roughly a 20-minute drive from downtown. The park offers camping, hiking, swimming, and a notable disc golf course, and it is a popular base for exploring the broader Ice Age trail and forest landscape that defines this corner of the state.

To the south, the small town of Chetek, about 15 miles away, is known for the chain of six interconnected lakes it surrounds, drawing boaters, anglers, and a long-running hydroplane boat race each summer that brings a noticeable bump in visitors to the area. The broader region is laced with county and ATV trails, small inland lakes, and thousands of acres of state forest, giving visitors a quiet, year-round outdoor playground that feels far more remote than its distance from major Midwest population centers would suggest.

For short-term rental investors, Rice Lake offers an appealing mix of small-town affordability, easy access from the Twin Cities metro, and a four-season draw built on fishing, boating, snowmobiling, and family lake trips. Owners benefit from a steady summer peak driven by lake tourism and outdoor recreation, with growing interest in shoulder-season stays tied to hunting, snow sports, and fall color travel in the surrounding northwoods, all within a comfortable drive of one of the Upper Midwest's largest urban markets.

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