Studio Apartments for Rent in Owatonna, MN

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Starting at $1,175

Total Monthly Price
- Studio - 2 Beds
1575 24th Ave NW, Owatonna, MN 55060

The Apartments at West Lake Meadows feature open concept living areas with studio, one and two-bedroom Apartments. An outdoor pool with a sundeck, dishwashers, stacked washer/dryer and many more amenities are found in each apartment. Each building offers a community room, fitness room, elevator and library for tenant use. Property features a clubhouse with a conference room and lobby. Community

West Lake Meadows

1575 24th Ave NW, Owatonna, MN 55060
Explore Owatonna
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Starting at $1,095 Plus Fees
- Studio - 3 Beds
2575 N Cedar Ave, Owatonna, MN 55060

Find Your Perfect Home at the Cedar View Apartments – Modern Living with Exceptional Comfort!Welcome to Cedar View Apartments, where contemporary design meets everyday convenience in Owatonna. Whether you're looking for a spacious studio, 1, 2, or 3-bedroom home, our modern apartments are designed to elevate your lifestyle.Special Offer: $750 Rent Credit! Get a $750 credit applied

Cedar View Apartments

2575 N Cedar Ave, Owatonna, MN 55060
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Starting at $1,160 Plus Fees
- Studio - 2 Beds
175 18th St SW, Owatonna, MN 55060

South Pointe II Apartments is a 28 unit, market rate property. It's conveniently located close to daycare, shopping, Hy-Vee store, great restaurants, hospital, parks and Steele County Fairgrounds.South Pointe offers individually controlled heat and air conditioning, fitness center, in-home washer/dryers, stainless steel appliances and flat top stoves in every apartment. South Pointe I Apartments

South Pointe II Apartments

175 18th St SW, Owatonna, MN 55060
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Starting at $1,025 Plus Fees
- Studio - 2 Beds
111 W Vine St, Owatonna, MN 55060

Ideally located on East Vine Street near downtown Owatonna, MN. 111 Vine offers comfortable apartment living with the convenience of being close to local shopping, dining, entertainment, and everyday essentials. With studio, one, one + den, and two bedroom apartment homes ranging from 617 to 1,027 square feet, there's room to find a home that fits your lifestyle.Apartments here feature

111 Vine Apartments

111 W Vine St, Owatonna, MN 55060

Minnesota Steele County

Why Live in Owatonna

Owatonna, located in Steele County, Minnesota, offers a blend of small-town charm and modern conveniences just 65 miles southwest of the Twin Cities. With a population of over 26,000, Owatonna is known for its scenic lifestyle and urban convenience. The city boasts 37 parks, 17 trails, and over 867 acres of outdoor space, including Kaplan’s Woods and Mineral Springs Park, providing year-round activities such as swimming, fishing, ice skating, and cross-country skiing. The Village of Yesteryear and the State School Orphanage Museum preserve local history, while the annual Steele County Free Fair attracts over 100,000 attendees with live music, carnival rides, and food vendors. Owatonna Public Schools, including the highly rated Owatonna Senior High School, serve around 5,000 students and are recognized for their strong athletic programs. The local economy is bolstered by major employers like Viracon and Federated Insurance, contributing to the city's focus on manufacturing and insurance. Housing options range from entry-level homes to expansive estates, with new subdivisions developing on the outskirts. Residents enjoy shopping at name-brand grocers and local boutiques, and dining at family-owned eateries in Downtown Owatonna. The city is well-connected by U.S. Interstate 35 and the Southern Minnesota Area Rural Transit (SMART) bus system, with healthcare services provided by Owatonna Hospital. Crime rates in Owatonna are lower than the national average, making it a safer place to live.

Learn more about living in Owatonna

Frequently Asked Questions

How much does it cost to rent a home in Owatonna, MN?

The median rent for a home in Owatonna, MN is $1,850 per month, though prices vary by neighborhood, size, and property type. As of September 2026, townhouses tend to be the most affordable option while single-family homes are currently more expensive.

How much do you need to make to afford rent in Owatonna, MN?

To comfortably afford the median rent in Owatonna, MN, a household needs to earn roughly $74,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,850 per month in Owatonna, MN, renters typically need to show $5,550 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.

Is it more affordable to rent or buy in Owatonna, MN?

In Owatonna, MN, the price-to-rent ratio is 12.6, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Trends in Owatonna, MN

There are currently 4 homes available for rent in Owatonna, MN. The median rent is $1,850 per month, with single-family homes renting at $1,925 and townhouses at $1,350.

Rental Home Trends

Number of Homes for Rent 4	Median Rent $1,850
Median Single Family Home Rent $1,925	Median Townhouse Rent $1,350

How to Rent a Home

Rentals in Owatonna

Homes for Rent by Bedrooms in Owatonna

Rentals by Price in Owatonna

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