salaryRent is higher than in 53% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 17.7 minutes. Most homes (75.6%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $68,560 a year. That is $33 an hour at a full-time job.
Is rent cheaper than other Minnesota cities?
No. Rent here is more expensive than in most of Minnesota. It is number 92 of 150 cities from cheapest to most expensive.
How much do households earn in Owatonna?
Share of households by yearly income. 28.5% of households earn $100,000 or more.
Rent by apartment size in Owatonna
| Size | Owatonna | U.S. average |
|---|---|---|
| Studio | $1,324 | $1,338 |
| 1 bedroom | $852 | $1,324 |
| 2 bedrooms | $1,244 | $1,509 |
| 3 bedrooms | $1,703 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Owatonna overall?
Everyday prices in Minnesota overall are 1% below the U.S. average (index 98.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Owatonna, so the Minnesota figure is shown.
Taxes and bills in Owatonna
Life in Owatonna
Is it cheaper to rent or buy in Owatonna?
About the same. Renting and owning cost within $13 of each other each month.
Owning assumes a typical $245,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $24,520 for the down payment.
Frequently asked questions
What is the average rent in Owatonna, MN?
Renting in Owatonna costs a median of about $1,714 a month in 2026, including utilities. The Minnesota median is $1,525.
How much do I need to make to live in Owatonna?
To keep rent under 30% of income, you need about $68,560 a year, or $33 an hour at a full-time job.
Is Owatonna cheap or expensive?
Owatonna is rated OK: rent takes 23.6% of the typical household income of $87,089. It ranks 92nd cheapest of 150 Minnesota cities we track.
How much are property taxes in Owatonna?
The median homeowner in Owatonna pays $3,222 a year in property taxes, about 1.31% of the median home value.
Is Owatonna more expensive than the national average?
Overall prices in Minnesota are 1% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Owatonna?
The median home value in Owatonna is $245,200, about 2.8 times the typical yearly household income.
26,498 people live in Owatonna. Numbers are typical (middle) values.