Rice is an unincorporated community in Prince Edward County, Virginia, United States. Rice has a U.S. Post Office with the ZIP code 23966. The nearest town to Rice is Farmville. During the Civil War era, it was known as Rice's Depot.As of 2010, Rice's population is 2,256 people. Since 2000, it has had a population growth of 9.51 percent.The median home cost in Rice is $164,640. Home appreciation the last year has been -4.00 percent.Compared to the rest of the country, Rice's cost of living is 4.90% Lower than the U.S. average.Prince Edward County has one elementary school, one middle-school and one high school all located in Farmville, and school buses are used throughout the county including in Rice. Prince Edward County's public schools spend $5,458 per student. The average school expenditure in the U.S. is $5,678.The unemployment rate in Rice is 8.10 percent. Recent job growth is negative. Rice jobs have decreased by 1.96 percent.