Apartments & Homes for Rent in Mankato, MN

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What to Know About

Life in Mankato & Beyond

Mankato shares many of the great qualities that make Minnesota a desirable place to live.

Minnesota, known as the "Land of 10,000 Lakes", boasts breathtaking landscapes and a thriving arts and cultural community that enchants you. Immerse yourself in Minnesota's roots and history through the City Museum and the Science Museum of Minnesota, or invest in your education through the University of Minnesota, St. Cloud State University, and Minnesota State University, Mankato. In addition, residents can enjoy a vibrant arts and cultural scene in the Twin Cities of Minneapolis and St. Paul, including the famous Walker Art Center and the Minnesota Orchestra, providing a wealth of entertainment options.

Sports enthusiasts can enjoy cheering on professional teams such as the Minnesota Vikings (NFL), Minnesota Twins (MLB), and Minnesota Timberwolves (NBA), providing ample opportunities for excitement. Explore famous attractions like the Mall of America, the James J. Hill House, and the historic town of Duluth, each providing a unique glimpse into Minnesota's history and culture. In addition, the state offers many outdoor recreation opportunities, from boating and fishing in its 10,000 lakes to skiing in the Minnesota River Valley.

Minnesota offers a unique blend of natural beauty, quality of life, and affordability, making it a great place to call home.

Rental Market Trends

Mankato, MN

As of April 2025, Mankato's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Mankato's average rent is 1.4% ($20) lower than the Minnesota average of $1,425 and 21.9% ($394) lower than the U.S. average of $1,799.

Average Rent
$1,405
Monthly ChangeMonth Over Month Change
Decreased1.1% ($16)
Yearly ChangeYear Over Year Change
Increased12% ($151)
Avg. Days on MarketAverage Days on Market
39
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,136 Decreased5.9% ($71) Increased9.3% ($97)
2 Beds $1,413 Decreased5.1% ($76) Increased19.1% ($227)
3 Beds $1,814 Increased6.3% ($107) Increased20.3% ($306)
Nearby Cities Average Rent Avg. Rent vs. MankatoAverage Rent vs. Mankato Avg. Days on MarketAverage Days on Market
Saint Peter $1,260 Decreased10.3% ($145) 47 days
Janesville $785 Decreased44.1% ($620) 41 days
Le Sueur $1,440 Increased2.5% ($35) 44 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Mankato Rental Market FAQs

Explore rental prices, market trends, and availability in Mankato, MN.

The average rent in Mankato, MN is $1,405 per month.
Homes in Mankato typically rent for between $795 and $2,358 per month, with an average of $1,405 per month.
In Mankato, the average rent for a 1-bedroom home is $1,136 per month, for a 2-bedroom home, $1,413 per month, and a 3-bedroom home is $1,814 per month.
The average rent in Mankato is 21.9% ($394) lower than the national average of $1,799 per month.
The average rent in Mankato has decreased by 1.1% ($16) in the last month and increased by 12.0% ($151) over the past year.
The rental market in Mankato, MN, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Mankato, MN, the average rental stays on the market for approximately 39 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 63 rental properties available in Mankato, MN.
Based on the current averages, a household would need an annual income of $56,520 to comfortably afford a 2-bedroom home in Mankato.
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