Cheap Apartments for Rent in Owatonna, MN from $800 (20 Rentals)

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Search the lowest-cost Apartments available for rent right now in Owatonna.

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302 N Cedar Ave
$850
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$850

Total Monthly Price
$850
1 Bedroom Apartment Available Jun 1

302 N Cedar Ave

302 N Cedar AveOwatonna, MN 55060
  • Smoke Free
property at 109 E School St

$925 - $995

Total Monthly Price

Total Monthly Price

Base Rent
$925

Total Monthly Price
$925

1 Bedroom Rentals

Available May 10

109 E School St

OwatonnaMN55060
property at 717 S Cedar Ave

$1,050

Total Monthly Price

Total Monthly Price

Base Rent
$1,050

Total Monthly Price
$1,050

1 Bedroom, 1 Bath Home for Rent

Available Now

717 S Cedar Ave

OwatonnaMN55060

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Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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909 E Vine St
1 to 2 Bedroom Apartments

909 E Vine St

909 Vine St EOwatonna, MN 55060

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Crestwood Apartments
1 to 2 Bedroom Apartments

Crestwood Apartments

216 12th St NEOwatonna, MN 55060
  • Utilities Included
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111 Vine
Studio Apartments

111 Vine

111 W Vine StOwatonna, MN 55060
  • Utilities Included
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Academy Apartments
1 to 2 Bedroom Apartments

Academy Apartments

706 E Academy StOwatonna, MN 55060
property at 220 E 7th St

$795

Total Monthly Price

Total Monthly Price

Base Rent
$795

Total Monthly Price
$795

1 Bedroom, 1 Bath Condo for Rent

Available May 2

220 E 7th St

Albert LeaMN56007
property at 702 E Main St

$850

Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$850

Total Monthly Price
$850

Studio, 1 Bath Home for Rent

Available Now

702 E Main St

Albert LeaMN56007
property at 101 Elm St

$875 - $1,250

Total Monthly Price

Total Monthly Price

Base Rent
$875

Total Monthly Price
$875

2 To 3 Bedroom Rentals

Available Apr 25

101 Elm St

ClaremontMN55924

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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204 3rd Ave SE
1 to 3 Bedroom Apartments

204 3rd Ave SE

204 3rd Ave SEMedford, MN 55049
  • Utilities Included
property at 821 Jefferson Ave

$950 - $995

Total Monthly Price

Total Monthly Price

Base Rent
$995

Total Monthly Price
$995

1 Bedroom Rentals

Available Now

821 Jefferson Ave

Albert LeaMN56007

Owatonna, MN Local Guide

Cheapest Neighborhoods for Apartments in Owatonna, MN

Pricing Updated: 04/22/2026

Current apartment rentals in the Owatonna, MN area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Owatonna Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Owatonna$1,646$85019

Cheapest Available Owatonna Apartments for Rent and Nearby

 

The cheapest available apartment rental in Owatonna, MN is a 1 Bed unit found at 111 Vine Apartments in the Downtown Owatonna neighborhood priced from $1,110. Cedar View Apartments in the Downtown Owatonna neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,250. Here is today’s list of the most affordable Owatonna apartments for rent:

Apartment ListingModel NameBed/BathPriced From
111 Vine Apartments1 Bedroom 1 Bathroom1BR,1BA$1,110
Cedar View Apartments2575 Studio - 2nd and 3rd FloorStudio,1BA$1,250
Apartments on MoundTwo Bedroom2BR,1BA$1,295
South Pointe Apartments2 Bedroom 2 Bathroom2BR,2BA$1,430
West Lake Meadows2 Bed 1 Bath2BR,1BA$1,485

Best Value Apartments for Rent in Owatonna, MN and Nearby

As of April 22, 2026 the best value apartment in the Owatonna area is the $0.93 price per square foot 213 E Mill St Model at 213 E Mill St, Unit Apartment A in the in the Downtown Owatonna neighborhood starting from $1,115. The second greatest value Owatonna apartment is the Two Bedroom Model at Apartments on Mound starting at $1,295 with a $1.13 price per square foot in the Downtown Owatonna neighborhood. Here is today’s list of the best values for Owatonna apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
213 E Mill St, Unit Apartment A213 E Mill St2BR,1BA$0.93
Apartments on MoundTwo Bedroom2BR,1BA$1.13
South Pointe Apartments2 Bedroom 2 Bathroom2BR,2BA$1.30
West Lake Meadows2 Bed 2 Bath2BR,2BA$1.51
312 Riverside Ave, Unit 312 Riverside Ave312 Riverside Ave2BR,1BA$1.30
ASCEND1B Wabena1BR,1BA$2.21
111 Vine Apartments1 Bedroom 1 Bathroom1BR,1BA$1.64
Cedar View Apartments2575 1 BD/1 BA1BR,1BA$2.08

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Frequently Asked Questions about Cheap Owatonna Apartments

What is the Cheapest Studio apartment in Owatonna?

Currently the most affordable Cheap Studio Apartment in Owatonna is at Cedar View Apartments listed at $1,250.

How much is rent for a Cheap One Bedroom Owatonna Apartment?

The lowest price for a Cheap One Bedroom Owatonna Apartment is $1,110 at 111 Vine Apartments.

What is the lowest price for a Cheap Two Bedroom Owatonna Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Owatonna is starting from $1,295 at Apartments on Mound.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.