The name originates from nearby Camp Logan, a World War 1-era U.S. Army training camp, which was replaced by Memorial Park after the war. The “Rice” in Rice Military comes from the family that used to own the area. One of the most popular of the Rices, William M. Rice, left behind a fortune to found Rice University. Bankers Trust Co. paid $54,425 to the Rice family and another party for the entire area that would become Rice Military.
Around the 1990s artists began arriving in the area and caused it to change. By 2003 many young professionals moved to Rice Military to be in proximity to restaurants, theaters, and Memorial Park.