Rent in Owatonna, MN
A 2-bedroom in Owatonna, MN (ZIP 55060) typically rents for about $1,128 a month, with a range of $1,128–$1,244. Owner-occupied homes in Steele County pay about 1.21% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.24% in the week of Oct 29, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $1,197 | $866–$1,197 | 1 |
| 1 bed | $770 | $770–$951 | 1 |
| 2 beds | $1,128 | $1,128–$1,244 | 1 |
| 3 beds | $1,532 | $1,532–$1,703 | 1 |
| 4 beds | $1,379 | $1,379–$1,814 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Owatonna ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Owatonna, MN?
- About $1,128 a month: the median of the typical rents in 1 ZIP code, which range from $1,128–$1,244. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Owatonna, MN?
- About $770 a month: the median of the typical rents in 1 ZIP code, which range from $770–$951. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Owatonna, MN?
- About $1,532 a month: the median of the typical rents in 1 ZIP code, which range from $1,532–$1,703. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Owatonna, MN?
- About $1,197 a month: the median of the typical rents in 1 ZIP code, which range from $866–$1,197. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Owatonna, MN?
- About $1,379 a month: the median of the typical rents in 1 ZIP code, which range from $1,379–$1,814. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Owatonna, MN?
- Owner-occupied homes in Steele County pay a typical 1.21% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.24% in the week of Oct 29, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Owatonna rent figures come from?
- Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).