Place milk, honey, and salt into medium saucepan and bring to a simmer over medium-high heat (do not let it boil). Stir in the rinsed rice, reduce the heat to a simmer, stir occasionally, until rice is soft and milk is almost absorbed - about 30 minutes.
Add apples and raisins. Continue to simmer until apples have softened and pudding is quite thick, about 5 to10 minutes more. Watch so it doesn't stick to the bottom! Just before serving, stir in the butter. Serve plain or drizzled with additional honey or butter, as desired.