Land and home values in Steele County, Minnesota
Steele County (small town, Owatonna, MN) covers 430 square miles and 8 census tracts. Residential land is about $4.85 per sq ft at the county median, from $3.43 in its most rural tracts to $5.48 in its most valuable. The typical home is worth about $277,000 and a 2-bedroom rents for about $1,140 a month, as of October 12, 2026.
Open on the satellite mapAll of MinnesotaCounty values
| Land: residential | $4.85 | per sq ft |
| Land: residential | $211,440 | per acre |
| Land: quarter-acre lot | $52,860 | 10,890 sq ft |
| Land: farmland | $11,000 | per acre |
| Home: typical (median) | $277,000 | value |
| Home: entry-level | $204,000 | lower quartile |
| Home: upper-end | $375,000 | upper quartile |
| Build new | $194 | per sq ft, no land |
| Rent: 1-bedroom | $945 | per month |
| Rent: 2-bedroom | $1,140 | per month |
| Rent: 3-bedroom | $1,600 | per month |
| Rent: 4-bedroom | $1,920 | per month |
| Gross yield, 2-bed | 4.9% | a year |
Price tiers
| Tier | Tracts | Land $/sq ft | Typical home | Rent 2-bed |
|---|---|---|---|---|
| Small town | 5 | $4.85 | $277,000 | $1,100 |
| Rural | 2 | $4.92 | $340,000 | $1,390 |
| Farmland | 1 | $5.48 | $307,000 | $1,300 |
Tiers rank neighborhoods by home value within each metro area; outside metro areas they follow how built-up the land is. They describe prices only.
Cities and towns
Highest-value places
| Place | Type | Land $/sq ft | Typical home |
|---|---|---|---|
| Moland | Subdivision | $5.27 | $339,000 |
| Medford | Town | $4.78 | $278,000 |
| Owatonna | Town | $4.76 | $274,000 |
| Litomysl | Subdivision | $4.73 | $269,000 |
| Colonial Manor Mobile Home Park | Subdivision | $4.65 | $221,000 |
| Blooming Prairie | Town | $4.25 | $180,000 |
| Ellendale | Town | $3.92 | $173,000 |
Questions people ask
How much is land worth in Steele County, MN?
Residential land in Steele County, MN is about $4.85 per square foot, or $211,440 an acre, as of October 2026. A quarter-acre lot (10,890 sq ft) is about $52,860. Smaller lots sell for more per square foot and large tracts for less.
What is the typical home value in Steele County, MN?
The typical (median) home in Steele County, MN is worth about $277,000, with entry-level homes around $204,000 and upper-end homes around $375,000, as of October 2026.
How much is rent in Steele County, MN?
A 2-bedroom rents for about $1,140 a month in Steele County, MN, a 1-bedroom about $945 and a 3-bedroom about $1,600 (gross rent including utilities, HUD Fair Market Rent basis).
How much is farmland per acre in Steele County, MN?
Farmland averages about $11,000 an acre in Steele County, MN (USDA, including buildings), well below residential land.
Is this an appraisal?
No. Indicative values for screening, budgeting and negotiation, not an appraisal. For lending, a tax appeal or legal use, hire a state-licensed or certified appraiser.