What HUD offices serve Owatonna, Minnesota?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Owatonna.
How many renters live in Owatonna, Minnesota?
The City of Owatonna has people living in households.
There are renters living in renter households in this City. Renters make up 20.72 percent of the population living in Owatonna.
What is the rental market like in Owatonna, Minnesota?
There are an estimated housing units in the Owatonna area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Owatonna, Minnesota, there are 1.04 rental units.
What is the vacancy rate for rentals in Owatonna?
The rental vacancy rate in Owatonna is 4 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Owatonna for each bedroom size?
Occupied Rental Units by Size in Owatonna
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 124 | 1,054 | 1,077 | 450 | 55 |
Occupied Rental Units by Size in Owatonna
A large number of apartments in Owatonna have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Owatonna
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $808 to $1,801. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $808 |
| One BR | $814 |
| Two BR | $1,061 |
| Three BR | $1,495 |
| Four BR | $1,801 |
2024 Fair Market Rents in Owatonna, Minnesota
How many units are rented at Fair Market Rent (FMR) in Owatonna?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 27 | 22 percent |
| One BR | 633 | 60 percent |
| Two BR | 613 | 57 percent |
Rental Units Below FMR in Owatonna, Minnesota
How many affordable rental units are in Owatonna?
There are a variety of federal affordable housing programs serving households in Owatonna, Minnesota including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| Section 202 Supportive Housing for the Elderly | |
| Section 811 Supportive Housing for Persons with Disabilities | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Owatonna, Minnesota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Owatonna, Minnesota
Owatonna features 517 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Owatonna, Minnesota
There are 188 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Owatonna.
Housing Choice Vouchers in Owatonna, Minnesota
On average, Section 8 Housing Choice vouchers pay Owatonna landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Owatonna.
The maximum amount a voucher would pay on behalf of a low-income tenant in Owatonna, Minnesota for a two-bedroom apartment is between $955 and $1,167.
Sourced from federal housing data and AffordableHousingOnline.com research.