Low Income Apartments and Affordable Housing For Rent in Owatonna, MN

Discover affordable housing in Owatonna where there are 18+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Willow Run I & II Townhomes

2785 3rd Ave NE, Owatonna, Minnesota 55060

Northgate Apartments

131 West Rose Street, Owatonna, Minnesota 55060

Lincoln Square

435 16th St NE, Owatonna, Minnesota 55060

Cedar Run Townhomes

2300 N Cedar Ave, Owatonna, Minnesota 55060

North Court

1512 Saint Paul Rd, Owatonna, Minnesota 55060

Ivanhoe Apartments

220 12th St NE, Owatonna, Minnesota 55060

Cedardale West Apartments

325 Cedardale Dr SE, Owatonna, Minnesota 55060

Cedardale South Apartments

345 Cedardale Dr SE, Owatonna, Minnesota 55060

Cedardale North Apartments

324 Cedardale Dr SE, Owatonna, Minnesota 55060

Kay Knutson Apartments Aka Asi - Owatonna, Inc

905 El Dorado St SE, Owatonna, Minnesota 55060

Owatonna Senior Housing, Inc Aka Maple Trail

165 24th Pl NW, Owatonna, Minnesota 55060

Parkview Heights Townhouses

402 Saint Paul Pl, Owatonna, Minnesota 55060

Cedardale South

2211 Hartle Ave, Owatonna, Minnesota 55060

Willow Run Townhomes

2630 3rd Ave NE, Owatonna, Minnesota 55060

Bridge Court Apartments

614 W Bridge St, Owatonna, Minnesota 55060

Eastgate Apartments

407 Cherry St, Owatonna, Minnesota 55060

Heather Court Apt

635 Hilltop Ave, Owatonna, Minnesota

Willow Run Townhomes Phase II

2760 3rd Ave NE, Owatonna, Minnesota 55060

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Owatonna, Minnesota
$20.09/hour
$11.24 (+127%) more than Minnesota minimum wage and $12.84 (+177%) more than the Federal minimum wage.
Learn More About Owatonna, Minnesota Affordable Housing ↓

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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Owatonna, Minnesota.

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 26,400 people living in 10,958 households.

There are 5,471 renters living in 2,877 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 11,297 housing units in the Owatonna area. Of these, 2,993 units are rental homes, making up 26 percent of the housing market. For every renter household in Owatonna, Minnesota, there are 1 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 many renter households in Owatonna are overburdened by housing costs?

Among renter households in this market, 60 percent have housing cost burden. Further, 23 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

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 267
Section 8 Project-Based Rental Assistance 225
Section 202 Supportive Housing for the Elderly 25
Section 811 Supportive Housing for Persons with Disabilities 14
USDA Section 515 Rural Rental Housing 95
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.