Owatonna, MN55060

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$290,000
3.6% YoY Growth
Median Household Income
$83,800
34.4% 5-Year Growth
Days on Market
57
22.0% Longer than last year
Home Price Forecast
2.0%
Median Rent
$1,100
4.1% YoY Growth
1-Bed Rent
$1,000
7.0% YoY Growth
2-Bed Rent
$1,200
2.5% YoY Growth
3-Bed Rent
$1,600
3.0% YoY Growth

Property Listings — Owatonna, MN

As of Oct '25, Realtor.com reports that the median days on market for a home in Owatonna, MN is 57. This is a increase of 22.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.

MetricZip Code AverageYear over Year % Change
Median Listing Price
$317,000-4.0%
Listing Count
11420.0%
Listings as % of Homes0.4%20.0%
Days on Market
5722.0%
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Demographics — Owatonna, MN

As of the latest ACS Survey released in 2023, Owatonna, MN has a population of 29,600, which has increased by 2.0% over the past 5 years. Owatonna, MN is a moderately popular place for families, as children make up 24.1% of the population. The area has a moderately educated workforce, with 31.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.3% reporting working from home.

MetricLatest CensusYoY % Change
Population
29,6002.0%
% Under 18
24.1%-1.2%
% Seniors
18.9%14.5%
% WFH
8.3%151.5%
% w/ College Degree
31.4%18.0%
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As of the latest ACS Survey released in 2023, Owatonna, MN is a predominantly white area, with 84.3% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Owatonna, MN is hispanic, making up 7.7% of the population. Foreign-born residents account for 5.1% of the population in Owatonna, MN, and this percentage has increased by 13.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

MetricLatest Census5-Year % Change
% White
84.3%-2.3%
% Black
4.3%16.2%
% Hispanic
7.7%8.5%
% Asian
0.7%-58.8%
% Foreign Born
5.1%13.3%
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Mortgage and Risk — Owatonna, MN

According to HUD data as of 2023, there were 434 mortgage originations in Owatonna, MN, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Owatonna, MN. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

MetricZip Code Average
Total Loan Originations
434
% Conventional Loans
74.0%
% Government Loans
26.0%
% Investor Loans
3.0%
% Second Loans
0.0%
% Cash Out Refinance
12.0%

Loan Activity

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Rentals and Section 8 — Owatonna, MN

Owatonna, MN lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD
418
Total Units Section 8
379
% Rentals under Section 8
N/A
% Occupied Section 8
76.1%

Section 8 Opportunity

Home SizeHUD PremiumMarket RentMax HUD Rent
1 Bedroom-$200$1,000$800
2 Bedroom-$160$1,200$1,040
3 Bedroom-$140$1,600$1,460
4 Bedroom$0$1,750$1,750

Affordability — Owatonna, MN

Home Price to Income Ratio

MetricZip Code Average
Home Price to Income Ratio3.1
Median Home Price$290,000
Median Household Income$83,800

Owatonna, MN — ZIP Code Boundary Map

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Frequently Asked Questions