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Featured local agent — Owatonna, MN
Sarah Mitchell
Compass Real Estate · Owatonna, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Owatonna, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$281,000median sale price
How is the Owatonna, MN housing market right now?
The median home sale price in Owatonna, MN is $281,000, down 3.1% year-over-year. Homes sell in an average of 14 days with 62 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Owatonna a buyer's or seller's market?
Owatonna, MN is currently a strong seller's market, based on 1.6 months of supply and homes selling in about 14 days. How we determine this →
Homes sold
40
Last 12 weeks
Days on market
14
Fast-moving
Active listings
62
1.6 months supply
Sale-to-list
100.4%
Above asking
What does the Owatonna housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $281,000 |
| Median list price | $319,900 |
| Year-over-year price change | -3.1% |
| Average days on market | 14 days |
| Active inventory | 62 listings |
| Months of supply | 1.6 months |
| Sale-to-list price ratio | 100.4% |
| Median price per sq ft | $162/sq ft |
| Homes sold (latest month) | 40 |
| New listings (latest month) | 44 |
| Listings with a price cut | 21.0% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Owatonna by property type?
How the Owatonna, MN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $270,000 | $166/sq ft | 37 | 14 days |
| Townhouse | $375,000 | $140/sq ft | 3 | 89 days |
Source: Redfin · Updated monthly
The Owatonna housing market is currently classified as a strong seller's market with a median sale price of $281,000. Prices have fallen 3.1% compared to last year, with homes spending an average of 14 days on market, indicating 1.6 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.7x provides context for how home values compare to local earning capacity.
Homes for sale in Owatonna
There are currently 62 homes listed for sale in Owatonna, Minnesota. The median listing price is $320K.
Active listings
62
Homes on market
Median list price
$320K
Avg. days on market
14
Days until sale
New this week
44
Newly listed
Who lives in Owatonna?
Population
26,462
Median income
$81,276/yr
Median age
40 years
Owner-occupied
76.7%
College grads
32.3%
Avg commute
17.6 min
Source: U.S. Census Bureau ACS
What are homes worth in Owatonna?
Zillow home value
$302,292
Zillow rent index
$1,183/mo
Price-to-rent ratio
21.3x
Price-to-income
3.7x
Source: Zillow Research
What is it like to live in Owatonna?
Owatonna is a community of approximately 26K residents with a median age of 40 years.The median household income is $81,276, which reflects a relatively affluent area with strong earning potential. 32.3% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 76.7%, reflecting strong community stability and long-term resident commitment. The average commute time is 17.6 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Owatonna offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Owatonna?
15 schools tracked · 5,039 students
The largest public schools serving Owatonna, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
OWATONNA SENIOR HIGH
Grades 9-12 · 1,494 students
Owatonna Middle School
Grades 6-8 · 1,015 students
LINCOLN ELEMENTARY
Grades K-6 · 609 students
WILSON ELEMENTARY
Grades PK-5 · 560 students
WASHINGTON ELEMENTARY
Grades K-5 · 484 students
MCKINLEY ELEMENTARY
Grades K-5 · 483 students
OWATONNA ECSE
Grades PK · 107 students
OWATONNA ALC 9-12
Grades 9-12 · 90 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Owatonna, MN?
Want a head-to-head view? Compare Owatonna side-by-side with any other U.S. city using our market-comparison tool.
Is Owatonna a good real estate investment market?
For investors evaluating Owatonna, the price-to-rent ratio of 21.3x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 3.1% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Owatonna's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Owatonna's median home price.
Frequently asked questions
What is the average home price in Owatonna?
The median home sale price in Owatonna is $281,000, down 3.1% from last year.
How long do homes stay on market in Owatonna?
Homes typically spend 14 days on market before going under contract.
What is the median income in Owatonna?
The median household income is $81,276 per year.
Is Owatonna a buyer's or seller's market?
With 1.6 months of supply, Owatonna is currently a strong seller's market.
What is the Zillow home value estimate for Owatonna?
The Zillow Home Value Index (ZHVI) for Owatonna is $302,292, representing the typical home value in the area.
How much does a single-family home cost in Owatonna?
The median single-family home price in Owatonna, MN is $270,000 (about $166 per square foot).
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