Cost of Living in Owosso, MI: Rent, Income & Home Prices

CheapRent takes 14 cents of every $1 people earn here.

🏠 Rent per month (2026)$69660% lower than U.S. average

💵 Families earn per year (2026)$58,486about $4,874/month · 33% lower than U.S. average

🔑 House price$132,60060% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $27,840 a year. That is $13 an hour at a full-time job.

Is rent cheaper than other Michigan cities?

Yes. Rent here is cheaper than in most of Michigan. It is number 2 of 179 cities from cheapest to most expensive.

Owosso

$696

$1,078

$1,526

$1,942

$1,905

$1,612

$1,132

How much do households earn in Owosso?

Under $25k

22.5%

$25k–50k

29.6%

$50k–100k

32.5%

$100k–150k

8.2%

$150k+

4.0%

Share of households by yearly income. 12.1% of households earn $100,000 or more.

Rent by apartment size in Owosso

Size	Owosso	U.S. average
Studio	$740	$1,338
1 bedroom	$594	$1,324
2 bedrooms	$1,025	$1,509
3 bedrooms	$1,199	$1,698
4 bedrooms	$2,388	$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Owosso overall?

Everyday prices in Michigan overall are 4% below the U.S. average (index 96.2, U.S. = 100).

Housing

Goods (food, clothes…)

Utilities

100

Other services

101

U.S. average

100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Owosso, so the Michigan figure is shown.

Taxes and bills in Owosso

🏛️ Property tax$2,229a year · 1.68% of home value · U.S. $3,119

⚡ Electric bill$173a month (typical) · U.S. $156

Life in Owosso

Commute to work22.9 minU.S.: 26.4 min

College degree21.1%U.S.: 35.7%

Own their home68.3%U.S.: 65.2%

Below poverty line17.2%U.S.: 12.5%

Unemployment5.5%U.S.: 5.2%

Is it cheaper to rent or buy in Owosso?

Renting is cheaper right now: about $224 a month less.

Renting

$696

Owning

$920

Owning assumes a typical $132,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $13,260 for the down payment.

Frequently asked questions

What is the average rent in Owosso, MI?

Renting in Owosso costs a median of about $696 a month in 2026, including utilities. The Michigan median is $1,314.

How much do I need to make to live in Owosso?

To keep rent under 30% of income, you need about $27,840 a year, or $13 an hour at a full-time job.

Is Owosso cheap or expensive?

Owosso is rated Cheap: rent takes 14.3% of the typical household income of $58,486. It ranks 2nd cheapest of 179 Michigan cities we track.

How much are property taxes in Owosso?

The median homeowner in Owosso pays $2,229 a year in property taxes, about 1.68% of the median home value.

Is Owosso more expensive than the national average?

Overall prices in Michigan are 4% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Owosso?

The median home value in Owosso is $132,600, about 2.3 times the typical yearly household income.

14,632 people live in Owosso. Numbers are typical (middle) values.

Is Owosso, MI expensive to live in?