207 E 4th St
Albert LeaMN56007
Cheap Homes for Rent in Owatonna, MN from $600 (19 Rentals)
Search the lowest-cost Homes available for rent right now in Owatonna.
1506 7th St SE
AustinMN55912
121 Clinton St
AustinMN55912
427 N Oak Ave, Unit 1
427 N Oak Ave
OwatonnaMN55060
213 13th St SW
OwatonnaMN55060
423 Adams Ave
Albert LeaMN56007
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
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.
302 19th St NE
AustinMN55912
913 Abbott St, Unit 202
913 Abbott St
Albert LeaMN56007
240 E Rice St
OwatonnaMN55060
103 Main St E
Clarks GroveMN56016
950 S 3rd Ave
Albert LeaMN56007
614 10th St NE
AustinMN55912
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.
416 State St
West ConcordMN55985
1111 4th St NW
AustinMN55912
1206 10th St NE
AustinMN55912
8477 Crane Creek Rd
OwatonnaMN55060
101 Elm St
ClaremontMN55924
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$1,2502 Bedroom Apartments Available Now
513 N Oak Ave, Unit 1/2
513 N Oak AveOwatonna, MN 55060
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.
400 7th St SW
AustinMN55912
400 7th St SW
AustinMN55912
Showing Results 1-20, Page 1 of 1
Owatonna, MN Local Guide
Downtown Owatonna by Jon Platek is licensed under CC BY-SA 3.0
How much does it cost to rent a home in Owatonna?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Owatonna 2 Bedroom Homes for Rent | $1,370 | $900 | $2,495 |
| Owatonna 3 Bedroom Homes for Rent | $1,825 | $1,200 | $2,695 |
| Owatonna 4 Bedroom Homes for Rent | $2,440 | $1,950 | $3,000 |
| Owatonna 5 Bedroom Homes for Rent | $2,800 | $2,600 | $3,000 |
| Owatonna 6 Bedroom Homes for Rent | $3,200 | $3,200 | $3,200 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Homes for Rent in Owatonna
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Owatonna, MN Local Guide
- Owatonna Neighborhoods
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Cheapest Neighborhoods for Apartments in Owatonna, MN
Pricing Updated: 07/08/2026Current 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:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Downtown Owatonna | $1,895 | $800 | 25 |
Cheapest Available Owatonna Apartments for Rent and Nearby
The cheapest available apartment rental in Owatonna, MN is a 1 Bed unit found at Lincoln Square Apartments in the Downtown Owatonna neighborhood priced from $905. Clifton Apartments in the Downtown Owatonna neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,095. Here is today’s list of the most affordable Owatonna apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Lincoln Square Apartments | 1 Bedroom - 236 | 1BR,1BA | $905 |
| Clifton Apartments | 1BD | 1BR,1BA | $1,095 |
| West Lake Meadows | Studio | Studio,1BA | $1,125 |
| Cedar View Apartments | 2575 Studio - 2nd and 3rd Floor | Studio,1BA | $1,195 |
| Park Village Apartments | 2bd/1ba PV1 | 2BR,1BA | $1,220 |
Best Value Apartments for Rent in Owatonna, MN and Nearby
As of July 09, 2026 the best value apartment in the Owatonna area is the $1.24 price per square foot Two Bedroom Model at Apartments on Mound in the in the Downtown Owatonna neighborhood starting from $1,420. The second greatest value Owatonna apartment is the 2 Bedroom 2 Bathroom Model at South Pointe Apartments starting at $1,430 with a $1.30 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Apartments on Mound | Two Bedroom | 2BR,1BA | $1.24 |
| South Pointe Apartments | 2 Bedroom 2 Bathroom | 2BR,2BA | $1.30 |
| 111 Vine Apartments | 2 Bedroom 2 Bathroom | 2BR,2BA | $1.48 |
| Park Plaza Apartments | 2B 1011 sq. ft. | 2BR,1BA | $1.41 |
| 139 W Front St, Unit 139 W. Front St. Upper | 139 W Front St | 2BR,1BA | $1.25 |
| 513 N Oak Ave | 513 N Oak Ave | 2BR,1BA | $1.37 |
| 207 W Holly St, Unit Apt B Downstairs Unit | 207 W Holly St | 1BR,1BA | $1.33 |
| Park Village Apartments | 2bd/1ba PV1 | 2BR,1BA | $1.53 |
| Clifton Apartments | 1BD | 1BR,1BA | $1.56 |
| Lincoln Square Apartments | 1 Bedroom - 236 | 1BR,1BA | $1.45 |
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.
Read Article
Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From 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.
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How much rent can you afford?
The 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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Best Local Schools in Owatonna, MN
Owatonna Summer School 7-8
Owatonna Public School District
Public School - Grades 6-8 (999)
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School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Owatonna, MN Rentals by Map
See the most popular apartments and homes in Owatonna, MN
Frequently Asked Questions about Owatonna
What type of rentals are currently available in Owatonna?
There are currently 52 Apartments for Rent in Owatonna, MN with pricing that ranges from $800 to $2,830. There are also 48 Single Family Homes for rent, Condos, and Townhome rentals currently available in Owatonna ranging from $650 to $3,200.
What is the current price range for Rental Homes in Owatonna?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Owatonna ranges from $650 to $3,200 with an average monthly rent of $1,917.
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
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.
Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.