Detroit Lakes, MN vs Owatonna, MN

Detroit Lakes, MN and Owatonna, MN have a very similar cost of living, with only a 1.9% difference in their overall index. Detroit Lakes scores 82 while Owatonna scores 83 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Detroit Lakes is $925/month compared to $1,010/month in Owatonna — a 8% difference. Interestingly, home values tell a different story: while Detroit Lakes has cheaper rent, Owatonna actually has lower median home values ($234,600 vs $246,200).

Median household income in Detroit Lakes is $62,123 compared to $81,276 in Owatonna (-23.6%). While Owatonna is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Detroit Lakes spend roughly 17.9% of their income on rent, more than the 14.9% in Owatonna.