Rice Lake, located in Faribault County, Minnesota, is a gravity dam constructed in 1930 with a primary purpose of "Other." The dam stands at a height of 7 feet and has a structural height of 10 feet, with a storage capacity of 1856 acre-feet. The lake has a surface area of 266 acres and a drainage area of 23.2 square miles, with a maximum discharge of 39 cubic feet per second.

Managed by the local government and regulated by the Minnesota Department of Natural Resources, Rice Lake has a low hazard potential and is considered to be in satisfactory condition as of the last inspection in 2016. The dam has an uncontrolled spillway type and is situated on Rice Creek-TR, with a moderate risk assessment rating of 3. The surrounding area offers recreational opportunities and serves as a vital resource for water supply and flood control, making it an important site for water resource and climate enthusiasts to explore and study.