Cost of living in Owatonna research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Owatonna is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Minnesota, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Owatonna is 92, with 100 being the average.
The cost of living index in Owatonna is 0.9x lower than the national average.
Owatonna ranks as the #18 cheapest in Minnesota out of 147.
Owatonna ranks as the #1,974 cheapest out of 6,412 in the US.
The median home value in Owatonna is $183,400.
The median income in Owatonna is $71,450.
According to the most recent data on the cost of living, Owatonna has an overall cost of living index of 92, which is 0.9x lower than the national index of 100.
Compared to Minnesota, Owatonna has a cost of living index that's 1.0x lower than Minnesota's index of 95.
The standard of living in Owatonna ranks as #18 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Owatonna ranks as the #129 most expensive place in the North Star State.
For more reading on life in Owatonna, check out:
Six factors go into calculating the cost of living index in Owatonna. Here is how it fairs on each of the criteria:
The Services index in Owatonna is 94.
The Groceries index in Owatonna is 101.
The Health index in Owatonna is 118.
The Housing index in Owatonna is 80.
The Transportation index in Owatonna is 100.
The Utilities index in Owatonna is 95.
|Living Expense||Owatonna||Minnesota||National Average|
Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Owatonna is $183,400.
The Median Rent in Owatonna is $854.
The Median Income in Owatonna is $71,450.
The Home Value To Income in Owatonna is 2.6x.
The Rent To Monthly Income in Owatonna is 0.14x.
|Median Home Value||$183,400||$250,200||$244,900|
|Home Value To Income||2.6x||3.2x||3.5x|
|Rent To Monthly Income||0.14x||0.17x||0.2x|
The cost of living varies in the cities and towns around Owatonna. Here's a quick look at the cost of living in the most populous nearby places:
Rochester, MN has a cost of living index of 95, 1.0x Owatonna.
Lakeville, MN has a cost of living index of 116, 1.3x Owatonna.
Apple Valley, MN has a cost of living index of 112, 1.2x Owatonna.
|City||Population||Cost Of Living||Vs. Owatonna|
|Apple Valley, MN||55,237||112||1.2x|
|Prior Lake, MN||27,242||115||1.2x|
|North Mankato, MN||14,356||96||1.0x|
|St. Peter, MN||11,699||97||1.1x|