Owatonna, MN (zip code 55060) is an attractive place to live due to its affordable 2 bedroom rent at $920 per month. Compared to the US average rent of $1,430, Owatonna provides a considerable cost savings on housing that can make life more affordable. In addition, grocery prices are below the national average with an index score of 97 compared to 100 for the US.
Owatonna is home to many successful companies including Federated Insurance Company, North American Logistics Group, and Piranha Hose Products. The city also boasts many attractions such as the Steele County History Center and the State School Museum which offer a variety of historical exhibits. Owatonna has many recreational activities available with several parks such as Central Park offering access to fishing and camping opportunities.
Living in Owatonna offers numerous advantages including lower costs of living thanks to its low rental rates and cheaper groceries. With local attractions such as parks and museums, residents can enjoy a variety of activities without having to travel far from home. Additionally, Owatonna is home to multiple local businesses which provide ample employment opportunities for those looking for work.
Owatonna (zip 55060) has an unemployment rate of 4.7%. The US average is 6.0%.
Owatonna (zip 55060) 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 (zip 55060)
- The Sales Tax Rate for Owatonna (zip 55060) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Owatonna (zip 55060) 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 (zip 55060)
- The average income of a Owatonna (zip 55060) resident is $27,956 a year. The US average is $28,555 a year.
- The Median household income of a Owatonna (zip 55060) resident is $74,049 a year. The US average is $69,021 a year.