First of all, congrats- those are both incredibly tough schools to get in to.
I have friends going to both, and to give an honest answer, id say Rice. It's considered the happiest school in the country (according to a couple surveys), the environment is great, and the bass studio, from what i understand, are incredibly chill people.
From a living situation experience, it's always good to live in somewhere that isn't home. I know of a couple situations where friends from Houston could have attended Rice but chose to go elsewhere just for the experience of living in a new city. I live in a different state for school, and while I'm still a 3 hour drive from home, living away from where I live is beneficial, and all of my friends who have made that decision all say its a great choice- it's certainly been positive for me.
Faculty wise, you can't go wrong- Ed Barker and Tim Pitts are two of the greatest teachers out there. But from a personal level, I'd say go to Rice, if just for the experience of widening your horizons.