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Real Estate Prices & Overview

Downtown Owatonna median real estate price is $177,341, which is less expensive than 89.4% of Minnesota neighborhoods and 81.2% of all U.S. neighborhoods.

The average rental price in Downtown Owatonna is currently $1,474, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 63.2% of Minnesota neighborhoods.

Downtown Owatonna is a rural neighborhood (based on population density) located in Owatonna, Minnesota.

Downtown Owatonna real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Downtown Owatonna neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Downtown Owatonna, the current vacancy rate is 2.1%, which is a lower rate of vacancies than 85.7% of all neighborhoods in the U.S. This means that the housing supply in Downtown Owatonna is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Owatonna, the Downtown Owatonna neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Downtown Owatonna neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 70.9% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 98.6% of U.S. neighborhoods. Less time commuting means more time for other things in life.

People

There is an especially high percentage of incarcerated people (1.2%) living in the Downtown Owatonna neighborhood.

In addition, with a nice mix of college students, safety from crime, and decent walkability, the Downtown Owatonna neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 86.8% of the neighborhoods in MN. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.

Diversity

Did you know that the Downtown Owatonna neighborhood has more Czechoslovakian and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.2% of this neighborhood's residents have Czechoslovakian ancestry and 8.7% have Norwegian ancestry.

Downtown Owatonna is also pretty special linguistically. Significantly, 4.5% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 98.4% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Downtown Owatonna neighborhood in Owatonna are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 89.7% of U.S. neighborhoods. In addition, 1.2% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 78.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Downtown Owatonna neighborhood, 40.2% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 25.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (22.8%), and 10.9% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Downtown Owatonna neighborhood is English, spoken by 79.1% of households. Other important languages spoken here include Spanish and African languages.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Downtown Owatonna neighborhood in Owatonna, MN, residents most commonly identify their ethnicity or ancestry as German (23.7%). There are also a number of people of Mexican ancestry (15.7%), and residents who report Norwegian roots (8.7%), and some of the residents are also of English ancestry (6.7%), along with some Sub-Saharan African ancestry residents (5.3%), among others. In addition, 13.5% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Downtown Owatonna neighborhood spend under 15 minutes commuting one-way to work (70.9% of working residents), one of the shortest commutes across America.

Here most residents (72.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (18.7%) and 5.6% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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