The English centre-half left Leicester City last summer for £80 million.
And given Rice is younger at 21 and has huge potential, McAvennie thinks he is worth a similar fee.
"I think that if he's worth that then West Ham will be thinking that Declan's worth somewhere between £60 to 80m, but listen, the owners will have a figure in mind, and I think it's the same with every club, if someone matches that, they will sell him.
"Every club is a selling club now, especially with the pandemic and no money coming in from supporters.
"They'll have a price, and if it's met, he'll be on his way – if he wants to, that is. It's down to the player as well."