The story of this market
The typical home in ZIP 55060 sells for about $327,000, or $167 per square foot.
Prices are down 2.87% from a year ago, which gives buyers more room to negotiate. Homes take about 48 days to sell. HUD's fair market rent for a two-bedroom is $1,400 a month.
ZIP 55060 — Owatonna
The 55060 housing market shows signs of stabilization with a median price of $327,000, reflecting a slight year-over-year decline in listing prices. While inventory remains tight, the market is supported by steady local employment and consistent demand from family buyers. Figures for months of supply and specific price-cut percentages are based on current market listings.
This ZIP is well-suited for families and commuters seeking a balance between small-town living and access to major regional employment centers in the Twin Cities and Rochester.
Median prices moved down 2.9% year over year.
Homes spend a median of 48 days on market with 3.2 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.2% · poverty 7.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 55060, Steele County MN
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in Owatonna are generally lower than the national average, with property crime being the most frequently reported incident type.
The Owatonna Public School District serves the area, generally maintaining stable performance ratings and offering a variety of extracurricular and vocational programs.
The area faces moderate risks related to severe winter weather and occasional heavy rainfall, with standard insurance coverage typically sufficient for most residential properties.
Owatonna serves as a regional economic hub with a diverse industrial base including manufacturing, food processing, and healthcare, supported by its location along the I-35 corridor.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Minnesota) — Condominium Unit Taxation: Each unit constitutes a separate parcel for tax purposes. If a declaration is recorded at least 30 days before a tax installment is due, the taxing authority must split the taxes among the units. State (Minnesota) — Minnesota General Property Tax Classification System: Property tax is calculated by applying a class rate to the parcel's estimated market value to determine tax capacity, then multiplying by the local tax rate. For residential homesteads (Class 1a), the rate is 1.00% for the first $500,000 of market value and 1.
Residents primarily commute via I-35, providing a direct link to the Twin Cities metro area to the north and Rochester to the east.
The area features numerous parks, the Owatonna Arts Center, and access to local trails and golf courses, providing a robust amenity base for residents.
The rental market is characterized by steady demand, particularly for one-bedroom units, with moderate vacancy pressure and limited short-term rental saturation.
The local economy is anchored by manufacturing, healthcare, and retail sectors, with major employers providing a stable job market for the region.
The area is served by I-35 and US Highway 14, facilitating regional transit and logistics.
Ongoing infrastructure improvements and commercial zoning updates are focused on supporting industrial growth along the I-35 corridor.
The Chisago County Assessor's office conducts annual property valuations based on market sales data to ensure equitable tax distribution.
Parcels are subject to Owatonna Public School District levies and Steele County administrative taxes.
Standard property insurance is readily available, with premiums reflecting regional weather-related risk profiles.
Minnesota continues to see modest net domestic migration, with suburban areas like Chisago County attracting families from the urban core.
Minnesota is a judicial foreclosure state, providing a statutory redemption period for homeowners following a foreclosure sale.
Sellers are required to provide a comprehensive disclosure statement regarding the physical condition of the property at the time of sale.
Data retrieved from US Census Bureau and IncomeByZipCode.com
- Kamp Dels4.619.2 mi
- River Springs Water Park4.41.9 mi
- Waseca Water Park4.514.3 mi
- Steele County Four Seasons Centre4.61.5 mi
- Steele County Free Fair4.71.5 mi
- Torey's Restaurant & Bar4.50.4 mi
- Steele County Fairgrounds Park4.61.5 mi
- Northwoods Cinema 104.61.4 mi
- Spare Time Entertainment4.21.6 mi
- Mineral Springs Park4.71.2 mi
- River Springs Water Park4.41.9 mi
- Morehouse Park4.50.8 mi
- Rice Lake State Park4.37.7 mi
- Mineral Springs Park4.71.2 mi
- Manthey Park4.61.2 mi
- Morehouse Park4.50.8 mi
- Dartts Park4.40.2 mi
- Brooktree Golf Course4.41 mi
- Straight River Golf Course4.311.1 mi
- Fleet Farm4.31.8 mi
- Hy-Vee Grocery Store4.41.6 mi
- Medford Outlet Center3.86 mi
- Kohl's4.21.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Features local art exhibits and community events.
Large community park with trails and picnic areas.
Public 18-hole course serving the local community.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.