Rentometer, Inc. | Data as of 10/22/2025
Mankato’s vibrant metro area offers a diverse rental landscape that appeals to students, professionals, and families alike. Downtown Mankato blends historic charm with modern amenities, while nearby neighborhoods such as Highland, Westside, and Riverstone provide quiet streets and easy access to parks, shopping, and the scenic Mississippi River. The proximity to Minnesota State University and major employers creates steady demand for both apartments and single‑family homes, making the city a dynamic hub for renters seeking convenience and community.
Rental options span from efficient studio apartments in the $1,000 range to spacious four‑plus‑bedroom units averaging in the $1,800 range. One‑bedroom apartments typically sit in the low $1,100 bracket, while two‑bedroom apartments often reach the $2,200 range, reflecting the broader space and amenities they provide. For those preferring a house, two‑bedroom homes commonly rent around $1,400, three‑bedroom homes near $1,500, and larger family homes trend toward $1,800. This variety ensures that renters can find a residence that matches their lifestyle and budget, whether they’re looking for modern apartment complexes near campus or a quiet suburban home close to schools and parks.
Beyond the walls, Mankato boasts an active cultural scene, extensive bike trails, and a growing dining scene that caters to eclectic tastes. Reliable public transit and well‑maintained roadways make commuting straightforward, while local events—such as the Riverfest and downtown summer concerts—enhance the community feel. As the metro continues to grow, the rental market remains resilient, offering promising opportunities for both new arrivals and longtime residents seeking a comfortable, affordable place to call home.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $1,073 | $1,052 | $750 - $1,299 | $1,025 - $1,195 |
| Apartment | 1 Bedroom | $1,184 | $1,109 | $600 - $1,895 | $950 - $1,374 |
| Apartment | 2 Bedroom | $2,275 | $1,294 | $590 - $90,000 | $1,100 - $1,570 |
| Apartment | 3 Bedroom | $1,588 | $1,525 | $1,025 - $2,260 | $1,331 - $1,800 |
| Apartment | 4+ Bedroom | $1,854 | $1,800 | $1,640 - $2,150 | $1,775 - $1,990 |
| House | 2 Bedroom | $1,474 | $1,375 | $1,195 - $2,700 | $1,250 - $1,445 |
| House | 3 Bedroom | $1,540 | $1,395 | $895 - $2,700 | $1,290 - $1,800 |
| House | 4+ Bedroom | $1,856 | $1,722 | $1,140 - $2,910 | $1,545 - $2,140 |
In the current period, the average rent in Mankato, MN was $1,074 for Studio, $1,184 for 1 Bedroom, $2,093 for 2 Bedroom, $1,566 for 3 Bedroom, and $1,741 for 4+ Bedroom.
Data provided by Rentometer, Inc.