Lakeville, MN vs Owatonna, MN

The cost of living difference between Lakeville, MN and Owatonna, MN is dramatic. Owatonna is 48.2% cheaper than Lakeville, a gap that translates to thousands of dollars per year in household expenses. Lakeville has a cost index of 124 while Owatonna sits at 83, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Lakeville is $1,727/month compared to $1,010/month in Owatonna — a 71% difference. Home values follow the same pattern: Owatonna is more affordable at $234,600 median vs $425,200.

Median household income in Lakeville is $138,119 compared to $81,276 in Owatonna (+69.9%). While Lakeville is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Lakeville spend roughly 15% of their income on rent, more than the 14.9% in Owatonna.

Climate-wise, both cities share similar average temperatures (46.9°F vs 44.8°F). Owatonna receives more rainfall at 34.7" per year compared to 31.6" in Lakeville.