How many apartments are available in Downtown Owatonna on Rentable.co?

Rentable.co has over 31 apartments available near Downtown Owatonna.

What is the average rent for a studio apartment in Downtown Owatonna?

The average rent for a studio apartment near Downtown Owatonna is around $1,020 per month.

What is the average rent for a one-bedroom apartment in Downtown Owatonna?

The average rent for a one-bedroom apartment near Downtown Owatonna is around $1,290 per month.

What is the average rent for a two-bedroom apartment in Downtown Owatonna?

The average rent for a two-bedroom apartment near Downtown Owatonna is around $1,485 per month.

How many apartments are available in Owatonna, MN on Rentable.co?

Rentable.co has over 844 apartments available in Owatonna.

What is the average rent for a studio apartment in Owatonna, MN?

The average rent for a studio apartment in Owatonna is around $1,020 per month.

What is the average rent for a one-bedroom apartment in Owatonna, MN?

The average rent for a <a href='/owatonna-mn/1-bedroom-apartments-for-rent' >one-bedroom apartment</a> in Owatonna is around $1,290 per month.

What is the average rent for a two-bedroom apartment in Owatonna, MN?

The average rent for a <a href='/owatonna-mn/2-bedroom-apartments-for-rent' >two-bedroom apartment</a> in Owatonna is around $1,490 per month.

How expensive is it to rent an apartment in Owatonna, MN?

For a two-bedroom apartment in Owatonna, the average rent price is $1,490 per month, which is lower than the national average of $1,640 per month.

Can I afford an apartment for rent in Owatonna, MN?

Based on average rent prices in Owatonna, to afford a studio apartment you would need an annual household income of $41,000 to live comfortably.

Apartments in Downtown Owatonna

Owatonna:
May Rent Report

Welcome to the May 2026 Owatonna Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2026 key findings and figures for the Owatonna rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Owatonna and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Owatonna average rent prices in the chart below.

Monthly Rent Report

$1,550

$1,160

$780

$390

Jun. 2025

Jul. 2025

Aug. 2025

Sep. 2025

Oct. 2025

Nov. 2025

Dec. 2025

Jan. 2026

Feb. 2026

Mar. 2026

Apr. 2026

May. 2026

1 BR 2 BR

Owatonna Rent Prices Decrease From April to May

Owatonna rent prices decreased over the last month. From April to May, the city experienced a 0% decrease for the price of a one-bedroom apartment. The rent price for a Owatonna one-bedroom apartments currently stands at $.

When we take a look at the two-bedroom comparison from April to May, Owatonna experienced a 0% decrease for the price of a two-bedroom apartment. The rent price for a Owatonna two-bedroom apartments currently stands at $.

May Prices: Owatonna vs. Surrounding Areas

Rent Prices in Owatonna and Surrounding Areas

Rent prices have decreased in Owatonna over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Owatonna suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rents did not increase in any of the Owatonna suburbs
Rents did not decrease in any of the Owatonna suburbs.

May 2026 Pricing Trends: Owatonna vs. National Comparisons

Owatonna Rent Prices More Affordable Than Major Cities

Rent growth in Owatonna over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Owatonna average rent prices appear to be relatively affordable for local residents.

The price for a Owatonna one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Owatonna and surrounding area rent prices, take a look at the complete data set below.

Data set for Owatonna and suburbs

	1 BR May	1 BR M/M % Change	2 BR May	2 BR M/M % Change

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.