ZIP Code Market Report
55060 — Owatonna, MN
Data through February 2026 · Updated monthly
Avg Home Value
$290,523
▲ 2.5% year-over-year
Month-over-Month
-0.8%
▼ 0.8%
Single Family
$289,392
Condo / Co-op
--
The average home value in the 55060 ZIP code (Owatonna, Minnesota) is $290,523 as of February 2026. Home prices are rising, up 2.5% compared to last year.
A 3-bedroom home in 55060 is valued at $265,284.
The market in 55060 has a $200,131 spread between bottom-tier homes at $208,026 and top-tier homes at $408,158. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 55060 ZIP code will increase 0.5% over the next 12 months, bringing the projected average to approximately $291,975. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Steele County market area in Minnesota. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Steele County report.
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Market Snapshot
55060 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $294,306 | $292,789 | $290,523 | ▼ 1.3% |
| Single Family Value | $287,115 | $288,502 | $289,392 | ▲ 0.8% |
Home Values
55060 Home Value Trend
Historical home values for ZIP code 55060. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 55060
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 2 Bedrooms | $219,989 |
| 3 Bedrooms | $265,284 |
| 4 Bedrooms | $330,116 |
Property Types
Home Values by Property Type in 55060
How different property types compare in this ZIP code.
All Homes
$290,523
Single Family
$289,392
Bottom Tier
$208,026
Top Tier
$408,158
Forecast
12-Month Home Value Forecast for 55060
Zillow projects home values in 55060 will increase 0.5% over the next year, reaching approximately $291,975.
Current Value
$290,523
Projected Change
+0.5%
▲ 0.5%
Projected Value
$291,975
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 55060 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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