Rentometer, Inc. | Data as of 10/22/2025
Mankato, a vibrant river‑front city in south‑central Minnesota, blends historic charm with a lively college atmosphere. Anchored by the University of Minnesota State Mankato, the downtown district offers boutique shops, farm‑to‑table restaurants, and cultural venues like the Mankato Civic Center. Outdoor enthusiasts enjoy the Minnesota River Trail, scenic parks, and nearby lakes, while neighborhoods such as East Hills, River Hill, and Westside provide a mix of tree‑lined streets and easy access to the city’s amenities.
The rental market in Mankato caters to a broad spectrum of renters, from students and young professionals to growing families. Apartment options range from efficient studios to spacious four‑plus‑bedroom units, while single‑family homes are available with two to four or more bedrooms. Rental rates generally span the low $1,000s for compact studios up to the high $1,800s for larger homes, offering flexibility for a variety of budgets. Popular apartment communities near the campus and newer developments in the Riverfront district attract those seeking modern amenities, whereas historic homes in the Oak Hill and Woodside areas appeal to renters looking for classic character.
Convenient public transit, well‑rated schools, and a strong sense of community make Mankato an attractive place to call home. Proximity to major employers in healthcare, education, and manufacturing ensures a stable rental demand, while the city’s dedication to outdoor recreation and cultural events provides a balanced lifestyle. Whether you’re looking for a cozy studio steps from campus or a spacious house in a family‑friendly neighborhood, Mankato’s rental market offers diverse choices that complement its welcoming Midwestern spirit.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $1,095 | $1,087 | $750 - $1,299 | $1,050 - $1,245 |
| Apartment | 1 Bedroom | $1,194 | $1,200 | $600 - $1,775 | $900 - $1,395 |
| Apartment | 2 Bedroom | $1,389 | $1,325 | $590 - $3,725 | $1,120 - $1,650 |
| Apartment | 3 Bedroom | $1,583 | $1,525 | $1,200 - $2,260 | $1,331 - $1,795 |
| Apartment | 4+ Bedroom | $1,805 | $1,789 | $1,640 - $1,990 | $1,775 - $1,850 |
| House | 2 Bedroom | $1,352 | $1,375 | $1,195 - $1,700 | $1,250 - $1,445 |
| House | 3 Bedroom | $1,537 | $1,385 | $1,200 - $2,700 | $1,295 - $1,695 |
| House | 4+ Bedroom | $1,818 | $1,695 | $1,140 - $2,910 | $1,500 - $1,950 |
In the current period, the average rent in Mankato was $1,096 for Studio, $1,194 for 1 Bedroom, $1,380 for 2 Bedroom, $1,561 for 3 Bedroom, and $1,642 for 4+ Bedroom.
Data provided by Rentometer, Inc.