| Index | Owatonna | Minnesota | National |
| Cost of living | 98 | 100 | 100 |
| Groceries | 100 | 100 | 100 |
| Health care | 101 | 100 | 100 |
| Housing | 91 | 100 | 100 |
| Transportation | 97 | 100 | 100 |
| Utilities | 106 | 104 | 100 |
| Lifestyle & Entertainment | 99 | 100 | 100 |
| Household Items | 97 | 100 | 100 |
| Education & Childcare | 104 | 99 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Owatonna? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Owatonna stands at 98, making it 2% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Everyday expenditures like food, housing, lifestyle expenses, transportation and health care in Owatonna are priced in a manner consistent with other areas. This means that residents of Owatonna can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
Is Owatonna affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Owatonna, for instance, where the median home price falls 6.2% lower than the national average, and monthly rent rates are 16.3% lower than usual. Additionally, median income levels contribute to the equation, with Owatonna flaunting a median household income of $97,617, 20% higher than the national norm.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Owatonna, the groceries index is 0.4% higher than the national average.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Owatonna, the transportation index is 2.9% lower than the national average.
The Owatonna cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $126,103 | $10,509 | $2,942 | $3,783 |
| Renters | $52,728 | $4,394 | $1,230 | $1,582 |
| State | General Sales Tax | With Max Surtax |
| Minnesota | 6.875% | 7.875% |
| State | Income Tax (Low) | Income Tax (High) |
| Minnesota | 5.35% | 9.85% |
| City | Population | Cost of Living Index | National Avg. |
| Claremont, MN | 791 | 87 | 12.9% |
| New Richland, MN | 1,060 | 87 | 13.1% |
| Waseca, MN | 9,195 | 93 | 7.0% |
| Morristown, MN | 980 | 93 | 6.7% |
| Kenyon, MN | 1,935 | 93 | 7.0% |
| Owatonna, MN | 26,702 | 98 | 2.5% |
| City | Population | Cost of Living Index | National Avg. |
| West Whittier-Los Nietos, CA | 26,704 | 149 | 48.5% |
| Mauldin, SC | 26,699 | 100 | 0.4% |
| Brawley, CA | 26,691 | 112 | 12.0% |
| Milford, MA | 26,685 | 128 | 28.5% |
| Madison, MS | 26,675 | 111 | 11.4% |
| Owatonna, MN | 26,702 | 98 | 2.5% |
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