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ZIP Code · MN

ZIP 55060

Part of Owatonna, MN
Pop. 29,599·Steele County·117th most expensive ZIP in Minnesota
Median rent (all units)
$1,183/mo
Year-over-Year
Stable
Month-over-Month
-0.9%
vs US Median
-$782
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 55060 · $1,183
More affordable than 93% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$790
1 BR
$880
2 BR
$1,150
3 BR
$1,560
4 BR+
$1,830
Research median
$1,150/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$14,196/yr
At $1,183/mo median
Location
StateMN
CountySteele County
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+0.0% YoY, -0.9% MoM), not inventory.
Demographics

Who lives here

ZIP 55060 (Owatonna, MN) is majority owner-occupied, 28.7% of residents hold a bachelor's degree or higher.

Population
29,599
Median income
$84,906
Median age
40.6
Renters
22.8%
Age distribution
23.9%
18.9%
24.9%
12.7%
19.6%
Under 1823.9%
18–3418.9%
35–5424.9%
55–6412.7%
65+19.6%
Gender
50%
50%
Male50%
Female50%
Race & ethnicity
85.3%
White85.3%
Black4.2%
Hispanic8.1%
Asian0.8%
Other1.7%
Education (25+)
30.2%
35.4%
28.7%
No HS diploma5.6%
HS diploma30.2%
Some college35.4%
Bachelor's+28.7%
Housing tenure
77.2%
22.8%
Owner77.2%
Renter22.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 55060 in Owatonna, MN has changed in 5 years

Income
$74,049 → $84,906
up 14.7%
Population
29,651 → 29,599
down 0.2%
Renter share
25.2% → 22.8%
-2.4 pts
Bachelor's+
29.5% → 28.7%
-0.8 pts
Median age
40.1 → 40.6
+0.5 yrs

Census figures show median household income at $84,906 today, compared with $74,049 five years earlier. Renters now make up 22.8% of households, compared with 25.2% five years ago.

Community

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Local insights

Tips for renters in ZIP 55060

About renting in ZIP 55060

Last updated: July 20, 2026

ZIP code 55060 covers Owatonna, MN. The median rent here is $1,183/mo as of July 2026. A 1-bedroom rents for a median of $880/mo. A 2-bedroom rents for a median of $1,150/mo.

At 17% of local median household income ($84,906/yr), ZIP 55060 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 55060?

As of July 20, 2026, the median monthly rent in ZIP 55060 (Owatonna, MN) is $1,183. This is based on aggregated data from public sources and community submissions.

How does ZIP 55060 rent compare to the US average?

ZIP 55060's median rent of $1,183/mo is $782 (40%) below the US national median of $1,965/mo.

How does ZIP 55060 compare to other ZIPs in Minnesota?

ZIP 55060 is among the more affordable ZIP codes in Minnesota, ranking #117 out of 123 ZIPs at $1,183/mo.

How much income do you need to rent in ZIP 55060?

To keep rent at or below 30% of gross income, you would need to earn at least $47,000/year (~$23/hour full-time) to afford the median rent of $1,183/mo in ZIP 55060. The local median household income is $84,906/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 55060?

Rent in ZIP 55060 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 55060 an affordable place to rent?

ZIP 55060 is considered very affordable for renters. At $1,183/mo, rent takes approximately 17% of the local median household income ($84,906/yr). The standard benchmark is 30%. ZIP 55060 falls comfortably within that range.

What percentage of ZIP 55060 residents rent vs. own?

According to Census data, approximately 22.8% of ZIP 55060 households are renters, while 77.2% are owner-occupied. ZIP 55060 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 55060 compare to the rest of Owatonna?

ZIP 55060 sits right at the Owatonna citywide median of $1,183/mo.

When was rent data for ZIP 55060 last updated?

Rent data for ZIP 55060 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
17%
VERY AFFORDABLE

At $1,183/mo, rent takes ~17% of ZIP 55060's median household income ($84,906/yr). The standard benchmark is 30%.

ZIP 55060 17%Benchmark 30%
State income tax5.35–9.85%
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Schools nearby

Public schools near ZIP 55060 (Owatonna, MN)

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