Cheap Homes for Rent in Owatonna, MN from $400 (16 Rentals)

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

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Showing Results 1-16, Page 1 of 1

Owatonna, MN Local Guide

Cheapest Neighborhoods for Apartments in Owatonna, MN

Pricing Updated: 06/01/2025

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$1,415$90038

Cheapest Available Owatonna Apartments for Rent and Nearby

 

The cheapest available apartment rental in Owatonna, MN is a 1 Bed unit found at South Pointe Apartments in the Downtown Owatonna neighborhood priced from $1,100. Cedar View Apartments in the Downtown Owatonna neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,295. Here is today’s list of the most affordable Owatonna apartments for rent:

Apartment ListingModel NameBed/BathPriced From
South Pointe Apartments1 Bedroom 1 Bathroom1BR,1BA$1,100
Cedar View Apartments2575 1 BD/1 BA1BR,1BA$1,295
The Pearl1 Bedroom 1 Bath and Den1BR,1BA$1,350
ASCEND1B Wabena1BR,1BA$1,375
West Lake Meadows2 Bedroom 1 Bath A2BR,1BA$1,400

Best Value Apartments for Rent in Owatonna, MN and Nearby

As of June 01, 2025 the best value apartment in the Owatonna area is the $1.04 price per square foot 119 W Broadway St Model at 119 W Broadway St, Unit 119.5 in the in the Downtown Owatonna neighborhood starting from $1,400. The second greatest value Owatonna apartment is the 2 Bedroom 2 Bath Model at West Lake Meadows starting at $1,575 with a $1.50 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.
119 W Broadway St, Unit 119.5119 W Broadway St3BR,1BA$1.04
West Lake Meadows2 Bedroom 2 Bath2BR,2BA$1.50
Park Plaza Apartments2B 999 sq.ft.2BR,1BA$1.40
The Pearl1 Bedroom 1 Bath and Den1BR,1BA$1.59
ASCEND1B Wabena1BR,1BA$1.81
South Pointe Apartments1 Bedroom 1 Bathroom1BR,1BA$1.49
Cedar View Apartments2575 1 BD/1 BA1BR,1BA$2.00

Quick Rent Budget Calculator

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Frequently Asked Questions about Owatonna

What type of rentals are currently available in Owatonna?

There are currently 44 Apartments for Rent in Owatonna, MN with pricing that ranges from $650 to $2,650. There are also 40 Single Family Homes for rent, Condos, and Townhome rentals currently available in Owatonna ranging from $400 to $4,500.

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 $400 to $4,500 with an average monthly rent of $1,781.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.