Owatonna, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Owatonna Neighborhoods Since 2000




Owatonna, MN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Owatonna Housing Market Information

With a population of 25,725, 10,194 total housing units (homes and apartments), and a median house value of $162,195, Owatonna real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Owatonna, accounting for 69.52% of the city's housing units. Other types of housing that are prevalent in Owatonna include large apartment complexes or high rise apartments ( 15.24%), row houses and other attached homes ( 7.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.41%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Owatonna. Owner-occupied housing accounts for 70.44% of Owatonna's homes, and 58.70% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Owatonna built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Owatonna built between 1940-1969 ( 27.74%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.95%). There's also some housing in Owatonna built before 1939 ( 13.45%).

Owatonna Home Appreciation Rates

Owatonna's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Owatonna during the period has been just -1.12%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Owatonna's appreciation rate, at 5.26%, has been at or slightly above the national average. In the latest quarter, Owatonna's appreciation rate has been -0.47%, which annualizes to a rate of -1.86%.

Relative to Minnesota, our data show that Owatonna's latest annual appreciation rate is higher than 60% of the other cities and towns in Minnesota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Owatonna differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Owatonna - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Owatonna real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$162,195

Owatonna, MN HOME PRICES

Value Range
> $1,099,000 0.1
$824,001 - $1,099,000 0.1
$549,001 - $824,000 0.5
$439,001 - $549,000 0.2
$330,001 - $439,000 4.3
$220,001 - $330,000 17.5
$110,001 - $220,000 57.8
$55,001 - $110,000 13.1
$0 - $55,000 6.4

Average for MN
Average for Nation

Value Relative to Nation Value Relative to State
44.7322161021915 59.3429158110883

Number Of Homes And Apartments:
10,194

Owatonna Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
16.64% 0.90% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$890 / per month

Homeownership Rate

Homeownership
Owners 70.44
Renters 29.56
Vacant 6.45

Housing Market Details

 

Age of Homes

AGE OF Owatonna HOMES
2000 or Newer 17.9
1970 - 1999 40.9
1940 - 1969 27.7
1939 or Older 13.5

Types of Homes

TYPE OF Owatonna HOMES
Single-Family 69.5
Townhomes 7.0
Small Apt. Buildings 5.4
Apt. Complexes 15.2
Mobile Homes 2.8
Other 0.0

Home Size

SIZE OF Owatonna HOMES
No Bedroom 1.81
1 Bedroom 9.73
2 Bedrooms 23.19
3 Bedrooms 38.66
4 Bedrooms 20.03
5 or more bedrooms 6.58