Lewis Lofts
209 Dewey St,
Mankato, MN 56001
1-2 Beds | Call for Rent
Rental Market Trends in Mankato, MN
What is the average rent in Mankato, MN?
$1,061/month
Average Rent
677 Sq Ft
Average Apartment Size
+1.3%
Increase in the Last Year
As of January 2025, the average rent in Mankato, MN is $1,061 per month. This is 32% lower than the national average rent of $1,553/month, making renting in Mankato more affordable than most cities in the US. When you rent an apartment in Mankato, you can expect to pay about $954 per month for a studio, $1,061 for a one-bedroom apartment, and around $1,206 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,515 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Mankato, MN?
In the past year, rent has increased by 1.3%, which averages out to $14 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated January 2025
Legend
2024
2025
Rent Ranges in Mankato, MN
Last Updated January 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
28%
$700 - $1,000/month
45%
$1,001 - $1,500/month
16%
$1,501 - $2,000/month
9%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Mankato?
Based on current rent prices, Sibley Park, West Mankato and Five Corners are the most affordable neighborhoods in Mankato.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Mankato?
Based on current rent prices, East Mankato, Riverfront Park and Downtown Mankato are the most expensive neighborhoods in Mankato.
Neighborhood
Average Rent
Average Sq Ft
Which Mankato neighborhoods have the most rentals available?
The neighborhoods in Mankato with the most apartments available are East Mankato, Downtown Mankato and Washington Park .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Mankato, MN?
Because the average rent in Mankato is $1,061, you’ll want to make about $3,536 per month or $42,432 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Mankato, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Mankato, MN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
$968/month
One Bedroom
$850/month
$1,148/month
Two Bedroom
$1,392/month
$1,275/month
Three Bedroom
$1,567/month
$1,523/month
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.