Cost of Living in Owatonna
Owatonna's cost of living pairs an above-national-median household income against home values and property taxes that both run notably above the national median for the city's Steele County portion.
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Learn moreA real, disclosed home-value spread
Zillow's typical home value ran $273,490 (+1.8% YoY), Redfin's March 2026 median sale price ran $277,450, and May 2026 median list prices ran higher at $319,000 -- a real, disclosed spread this record does not resolve to one figure.
A property tax rate well above the national median
Owatonna's median effective property tax rate ran 1.41% for its Steele County portion per Ownwell this pass -- well above the 1.02% national median and above Minnesota's own statewide median. The median annual tax bill ($3,132) is the highest figure found anywhere within Steele County.
An above-national household income with low poverty
Owatonna's median household income ($80,750) runs above the national median, with a comparatively low poverty rate (9.23%, about three-quarters of the national rate) -- a real affordability cushion against the city's above-median tax rate.
Minnesota's 4-bracket income tax applies regardless
Minnesota's real, progressive 4-bracket state income tax (5.35%-9.85%) applies statewide, including in Owatonna -- with no local/county piggyback layer. See minnesota.js for the full bracket structure.
Key takeaways
- Home values carry a real, disclosed spread ($273,490-$319,000) depending on source and month.
- Effective property tax rate (1.41%, Steele County portion) runs well above the national median.
- Median household income ($80,750) runs above the national median, with low poverty (9.23%).
- Minnesota's statewide 4-bracket income tax applies regardless of city, with no local piggyback layer.
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