Owatonna, MN
Population 26,462 · Minnesota
About Owatonna, MN
Owatonna is a mid-sized city located in Minnesota with a population of 26,462 residents according to the latest US Census Bureau American Community Survey data. The median household income is $81,276 per year, which is 8% above the national median of $75,149. The median age of 40 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Owatonna features a median home value of $234,600, which is 4% below the national median of $244,900. This positions Owatonna in a moderately priced market relative to the rest of the country. Median monthly rent is $1,010, 13% below the national average of $1,163/month. Of the 11,371 total housing units, 77% are owner-occupied (8,353 units) and 23% are renter-occupied (2,540 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Owatonna shows an unemployment rate of 3.2%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 8.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Owatonna have an average one-way commute time of 17.6 minutes, one of the shorter commutes in the region.
Education & Demographics
32.3% of Owatonna residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 7.4% White, 1.2% Hispanic or Latino, 0.4% Black or African American, and 0.4% Asian residents, with 5.5% of the population being foreign-born.
How Owatonna Ranks in Minnesota
Cost of Living in Owatonna, MN
Compared to national averages, Owatonna has a median household income of $81,276 (8% above the national median of $75,149). Home values average $234,600, which is 4% below the national median. Monthly rent at $1,010 is 13% below the US average of $1,163. Within Minnesota, Owatonna's income is 10% above the state average of $74,221, and home values are 15% above the state median of $204,472.
Why Live in Owatonna, MN?
Owatonna offers a strong local economy with a median household income of $81,276, well above the national average, and affordable housing with a median home value of $234,600, below the US average of $244,900, and rent that’s lower than the national average at $1,010/month. Additionally, the city features a strong job market with an unemployment rate of just 3.2%, and a low poverty rate of 8.2%, better than the national average, and short commute times averaging just 17.6 minutes.
Owatonna has a population of 26,462 with a median age of 40 years. Compare Owatonna with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Owatonna
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Rosemount | 26,509 | $127,247 | $406,100 | Compare |
| Elk River | 26,367 | $99,457 | $338,300 | Compare |
| Shoreview | 26,724 | $109,399 | $365,100 | Compare |
| Austin | 26,167 | $66,488 | $155,100 | Compare |
| Chanhassen | 26,001 | $138,034 | $530,700 | Compare |
| Winona | 25,998 | $56,163 | $193,500 | Compare |
| Prior Lake | 27,832 | $130,278 | $429,900 | Compare |
| Ramsey | 28,070 | $112,060 | $345,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Owatonna With Other Cities
Frequently Asked Questions about Owatonna
What is the population of Owatonna, MN?
The population of Owatonna, MN is 26,462 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Minnesota.
What is the median household income in Owatonna?
The median household income in Owatonna, MN is $81,276 per year, which is 8% above the national median of $75,149.
What is the median home value in Owatonna?
The median home value in Owatonna, MN is $234,600, which is 4% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Owatonna?
The median monthly rent in Owatonna, MN is $1,010, which is 13% below the national average of $1,163/month.
What is the unemployment rate in Owatonna?
The unemployment rate in Owatonna, MN is 3.2%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Owatonna, MN a good place to live?
Owatonna offers above-average incomes, affordable housing, and a strong job market. With a population of 26,462 and a median age of 40, the city appeals to a broad range of residents.
How educated is Owatonna, MN?
32.3% of residents in Owatonna aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Owatonna?
Key cost-of-living indicators for Owatonna, MN: median home value is $234,600 (4% below national), median rent is $1,010/month, and median household income is $81,276. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Owatonna?
The poverty rate in Owatonna, MN is 8.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Owatonna, MN?
Owatonna's population is 7.4% White, 1.2% Hispanic or Latino, 0.4% Black or African American, 0.4% Asian, and 4.6% two or more races. 5.5% of residents are foreign-born.