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?
$1,093/month
Average Rent
681 Sq Ft
Average Apartment Size
+3.1%
Increase in the Last Year
As of July 2025, the average rent in Mankato, MN is $1,093 per month. This is 33% lower than the national average rent of $1,636/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 $969 per month for a studio, $1,093 for a one-bedroom apartment, and around $1,245 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,566 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 3.1%, which averages out to $35 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 July 2025
Legend
2024
2025
Rent Ranges in Mankato, MN
Last Updated July 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
24%
$700 - $1,000/month
44%
$1,001 - $1,500/month
18%
$1,501 - $2,000/month
11%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Mankato?
Based on current rent prices, Southeast Village, Erlandson Park and Washington Park 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, Washington Park and Erlandson Park 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, Erlandson Park and Southeast Village .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Mankato, MN?
Because the average rent in Mankato is $1,093, you’ll want to make about $3,643 per month or $43,716 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.
Cost of Living
The cost of living in Mankato, MN is 5.2% lower than the national average. Generally, housing in Mankato is 21.4% less expensive than the national average, with rent falling between $969 - $1,566. You can expect to pay 3.3% more for groceries, 1.7% more for utilities, and 3.1% less for transportation.
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
-
$977/month
One Bedroom
-
$1,179/month
Two Bedroom
-
$1,315/month
Three Bedroom
-
$1,590/month
Nearby City Rent Trends
Apartment communities in Mankato we think you'll love
Property Management Companies in Mankato, MN
INH Property Management
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92
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6,557
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52
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4 Communities in Mankato
Michael Development
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16
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1,344
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13
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2 Communities in Mankato
MBG
-
18
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1,397
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10
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2 Communities in Mankato
Campus Advantage
-
37
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8,372
Units
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29
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1 Community in Mankato
Prairie Lakes Management
-
22
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-
2,301
Units
-
22
Cities
1 Community in Mankato
Cohen-Esrey Property Management
-
22
Communities
-
5,452
Units
-
18
Cities
1 Community in Mankato
Anywhere
-
13
Communities
-
1,001
Units
-
10
Cities
1 Community in Mankato
TE Miller Development LLC
-
11
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-
1,309
Units
-
8
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1 Community in Mankato
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
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.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.