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 July 2025, Mankato's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Mankato's average rent is 6.2% ($91) lower than the Minnesota average of $1,479 and 21.8% ($387) lower than the U.S. average of $1,775.

Average Rent

$1,388

Monthly ChangeMonth Over Month Change

1.3% ($18)

Yearly ChangeYear Over Year Change

0.2% ($3)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$1,208	0.1% ($1)	0.7% ($8)
2 Beds	$1,445	2.3% ($34)	3.3% ($50)
3 Beds	$1,876	1% ($19)	8.1% ($141)

Nearby Cities	Average Rent	Avg. Rent vs. MankatoAverage Rent vs. Mankato	Avg. Days on MarketAverage Days on Market
Saint Peter	$1,250	9.9% ($138)	47 days
Janesville	$785	43.4% ($603)	41 days
Le Sueur	$1,440	3.7% ($52)	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.

What is the average rent in Mankato, MN?

The average rent in Mankato, MN is $1,388 per month.

What is the rental price range for apartments in Mankato, MN?

Apartments in Mankato typically rent for between $846 and $2,439 per month, with an average of $1,388 per month.

What is the average rent for different bedroom sizes in Mankato, MN?

In Mankato, the average rent for a 1-bedroom apartment is $1,208 per month, for a 2-bedroom apartment, $1,445 per month, and a 3-bedroom apartment is $1,876 per month.

How do rent prices in Mankato, MN compare with the national average?

The average rent in Mankato is 21.8% ($387) lower than the national average of $1,775 per month.

How have rent prices in Mankato, MN changed recently?

The average rent in Mankato has decreased by 1.3% ($18) in the last month and decreased by 0.2% ($3) over the past year.

How competitive is the rental market in Mankato, MN?

The rental market in Mankato, MN, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Mankato, MN?

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.

How many rental properties are available in Mankato, MN?

There are currently 51 rental properties available in Mankato, MN.

Can I afford to rent an apartment in Mankato, MN?

Based on the current averages, a household would need an annual income of $57,800 to comfortably afford a 2-bedroom apartment in Mankato.