Search the lowest-cost Apartments available for rent right now in the Downtown Owatonna area of Owatonna.
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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| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Owatonna Studio Apartments | $1,144 | $1,020 | $1,250 |
| Downtown Owatonna 1 Bedroom Apartments | $1,271 | $850 | $1,680 |
| Downtown Owatonna 2 Bedroom Apartments | $1,555 | $1,055 | $2,830 |
| Downtown Owatonna 3 Bedroom Apartments | $1,654 | $1,654 | $1,654 |
There are currently 21 rentals with your search options within a 2 mile radius of the Downtown Owatonna Neighborhood of Owatonna, MN.
See all Apartments in OwatonnaThe cheapest available apartment rental in the Downtown Owatonna area of Owatonna, MN is a Studio unit found at Aire priced from $1,020. 111 Vine Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,110. Here are the most affordable Downtown Owatonna apartments for rent in Owatonna, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Aire | Studio, 1 bath | Studio,1BA | $1,020 |
| 111 Vine Apartments | 1 Bedroom 1 Bathroom | 1BR,1BA | $1,110 |
| South Pointe II Apartments | Studio | Studio,1BA | $1,160 |
| Cedar View Apartments | 2575 Studio - 2nd and 3rd Floor | Studio,1BA | $1,250 |
| Apartments on Mound | Two Bedroom | 2BR,1BA | $1,395 |
As of May 24, 2026 the best value apartment in the Downtown Owatonna area is the $1.83 price per square foot 2B Oak Model at ASCEND in the in the Downtown Owatonna neighborhood starting from $2,630. The second greatest value Downtown Owatonna apartment is the Two Bedroom Model at Apartments on Mound starting at $1,395 with a $1.22 price per square foot in the Downtown Owatonna neighborhood. Here is today’s list of the best values for Downtown Owatonna apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| ASCEND | 2B Oak | 2BR,2BA | $1.83 |
| Apartments on Mound | Two Bedroom | 2BR,1BA | $1.22 |
| South Pointe Apartments | 2 Bedroom 2 Bathroom | 2BR,2BA | $1.30 |
| West Lake Meadows | 2 Bed 2 Bath | 2BR,2BA | $1.51 |
| The Pointe @ Merchant Square | 2BR/2.0BA | 2BR,2BA | $1.53 |
| South Pointe II Apartments | One Bedroom One Bathroom | 1BR,1BA | $1.80 |
| 111 Vine Apartments | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.64 |
| Cedar View Apartments | 2575 1 BD/1 BA | 1BR,1BA | $2.08 |
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.
Read ArticleFrom the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
Read ArticleThe common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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Currently the most affordable Cheap Studio Apartment in Downtown Owatonna is at Aire listed at $1,020.
The lowest price for a Cheap One Bedroom Downtown Owatonna Apartment is $1,110 at 111 Vine Apartments.
Today's best deal for a Cheap Two Bedroom Apartment in Downtown Owatonna is starting from $1,395 at Apartments on Mound.
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.
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