Old-fashioned, oven-baked rice pudding with a silky custard texture, a lightly golden top, and warm notes of vanilla and cinnamon. Easy to assemble, mostly hands-off, and lovely served warm or chilled.
Preheat the oven to 325°F (160°C). Grease a 2-quart baking dish with butter.
In a saucepan, combine the rice and water; bring to a boil, then reduce heat, cover, and simmer 15–20 minutes until tender and the water is absorbed. Let cool slightly.
In a large bowl, whisk together the milk, sugar, eggs, cinnamon, vanilla, and salt until smooth.
Stir in the cooked rice and raisins (if using) until evenly combined.
Pour the mixture into the prepared baking dish and smooth the top.
Set the baking dish inside a larger roasting pan and pour hot water into the outer pan to reach halfway up the sides of the pudding dish (water bath).
Bake for 50–60 minutes, stirring gently once at the 30-minute mark, until the top is lightly golden and the custard is set (a knife inserted in the center should come out mostly clean).
Remove the dish from the water bath and let cool 10–15 minutes before serving. Enjoy warm, or chill for later.