Owatonna, MN is a small city located in southeastern Minnesota. It is home to several well-known companies including Federated Insurance, Viracon and Werner Electric Supply. It is also home to many amenities such as the Owatonna Public Library, the Owatonna Arts Center, and the Three Rivers Community Theater. The cost of living in Owatonna is relatively low compared to other cities in the US; 2 Bedroom Rent is moderately priced at $930 whereas it's over $1,400 nationally. Additionally, the Grocery Cost Index in Owatonna was 97 compared to the US average of 100. All these factors make it an attractive place for people looking for affordable living costs without giving up access to various amenities.
Owatonna has an unemployment rate of 4.7%. The US average is 6.0%.
Owatonna has seen the job market decrease by -2.3% over the last year. Future job growth over the next ten years is predicted to be 15.1%, which is lower than the US average of 33.5%.
Tax Rates for Owatonna
- The Sales Tax Rate for Owatonna is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Owatonna is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Owatonna
- The average income of a Owatonna resident is $27,467 a year. The US average is $28,555 a year.
- The Median household income of a Owatonna resident is $71,450 a year. The US average is $69,021 a year.