Mankato, MN Rental Market Trends
Last updated: February 20, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Mankato is $1,404, a 3.25% increase compared to the previous year, when the average rent was $1,359.
Studio Apartments at $860 offer the most budget-friendly option with 383 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 672 square feet for $1,167, balancing privacy and affordability.
Two-beedroom units at $1,308 offer 940 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,225 sq ft) for $1,642, suitable for larger households.
Average rent in Mankato, MN
Last updated: February 20, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,404 | 940 sq. ft. |
| Studio | $860 | 383 sq. ft. |
| 1 Bed | $1,167 | 672 sq. ft. |
| 2 Beds | $1,308 | 940 sq. ft. |
| 3 Beds | $1,642 | 1,225 sq. ft. |
Mankato, MN rent trends
Rental prices in Mankato, MN have increased by 3.25% over the past year. The average rent moved from $1,359 to $1,404.
What's the typical rent budget in Mankato, MN?
The largest share of rentals in Mankato, MN (47%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Mankato, MN?
8,775 or 50% of the households in Mankato, MN are renter-occupied while 8,880 or 50% are owner-occupied.
How Mankato Compares to Other Cities
| City | Average Rent |
|---|---|
| Mankato | $1,404 |
| Minneapolis | $1,687 |
| St. Paul | $1,515 |
| Moorhead | $1,081 |
| Rochester | $1,642 |
| St. Louis Park | $1,776 |
| Bloomington | $1,676 |
| Edina | $1,849 |
| St. Cloud | $1,163 |
| Minnetonka | $1,953 |
| Burnsville | $1,576 |
| Jordan, MN | $1,495 |
| Eagle Lake, MN | $1,575 |
| New Ulm, MN | $960 |
| Saint Peter, MN | $1,325 |
| North Mankato, MN | $1,146 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Mankato apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.