Cheap Apartments for Rent in Mankato, MN from $500 (46 Rentals)
Search the lowest-cost Apartments available for rent right now in Mankato.

Bunting Lane Apartments

Highland Hills Apartments

Glenwood Terrace

College Station

River Bluff Apartments

The Grove at Mankato
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

1325 Fair Street, Unit #3

141 E Welcome Ave, Unit M Hanson Prop.

Huntington Hills Apartments & Townhomes

120 S 4th St

224 Carroll St

118 Van Brunt St, Unit 2

Augusta Park Estates

Woodside Apartments
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

The Edge Apartments

Skyway Property Holdings, LLC - (Studio 5)

430 Willard St, Unit Apt 1
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

442 Belgrade Ave

Village Court Apartments

2461 Northridge Dr, Unit 2

1711 Northway Dr

Hoover Estates

1740 Lee Blvd, Unit 3
Mankato, MN Local Guide

How much does it cost to rent an apartment in Mankato?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Cheap Mankato Studio Apartments | $1,100 | $1,045 | $1,315 |
Cheap Mankato 1 Bedroom Apartments | $1,227 | $650 | $2,000 |
Cheap Mankato 2 Bedroom Apartments | $1,431 | $682 | $3,725 |
Cheap Mankato 3 Bedroom Apartments | $1,602 | $1,249 | $2,200 |
Cheap Mankato 4 Bedroom Apartments | $1,561 | $595 | $1,900 |
Browse Top Apartments in Mankato
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Mankato, MN Local Guide
- Mankato Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Mankato, MN
Pricing Updated: 06/11/2025Current apartment rentals in the Mankato, MN area range in price from $595 to $3,725 with an overall median price of $1,854. The three Mankato neighborhoods with the lowest median rent pricing are The Prairie at $875, City Center Mankato at $775, and Downtown Mankato at $682. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Mankato Apartments for rent:
Neighborhood | Median Price | Min Price | Available Units |
---|---|---|---|
The Prairie | $1,780 | $875 | 55 |
City Center Mankato | $1,812 | $775 | 76 |
Downtown Mankato | $1,812 | $682 | 63 |
Five Corners | $1,812 | $682 | 58 |
Sibley Park | $1,812 | $775 | 80 |
Erlandson Park | $1,850 | $775 | 51 |
Lincoln Park | $1,850 | $682 | 100 |
Riverfront Park | $1,850 | $775 | 49 |
Washington Park | $1,850 | $775 | 51 |
West Mankato | $1,850 | $775 | 84 |
Cheapest Available Mankato Apartments for Rent
 The cheapest available apartment rental in Mankato, MN is a 2 Beds unit found at Bunting Lane Apartments in the University neighborhood priced from $682. Highland Hills Apartments in the University neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $775. Here is today’s list of the most affordable Mankato apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Bunting Lane Apartments | Random Roommate Included! | 2BR,2BA | $682 |
Highland Hills Apartments | Elm Tree Court | 1BR,1BA | $775 |
442 Belgrade Ave | One Bedroom | 1BR,1BA | $875 |
Village Court Apartments | 2 Bed, 1 Bath (original) | 2BR,1BA | $949 |
Woodside Apartments | Studio | Studio,1BA | $1,045 |
River Bluff Apartments | Two Bedroom | 2BR,1BA | $1,070 |
Riverfront Court | Two Bedroom/ One Bathroom w Balcony | 2BR,1BA | $1,120 |
The Edge Apartments | Two Bedroom | 2BR,1BA | $1,200 |
Best Value Apartments for Rent in Mankato, MN
As of June 11, 2025 the best value apartment in the Mankato area is the $0.93 price per square foot 220 State St Model at 220 State St, Unit #2 2nd Floor in the in the University neighborhood starting from $1,400. The second greatest value Mankato apartment is the 2 Bedroom 1 Bath Model at Tartan Glen starting at $1,550 with a $1.22 price per square foot in the University neighborhood. Here is today’s list of the best values for Mankato apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
220 State St, Unit #2 2nd Floor | 220 State St | 3BR,1BA | $0.93 |
Tartan Glen | 2 Bedroom 1 Bath | 2BR,1BA | $1.22 |
Legacy Park Estates | Three Bedroom 1.75 Bathroom | 3BR,1.75BA | $1.25 |
Augusta Commons | 3 Bedroom 2 Bath | 3BR,2BA | $1.23 |
2108 Arlington Trl, Unit 4 | 2108 Arlington Trl | 2BR,1BA | $1.16 |
Cardinal Creek Apartments | Two Bedroom | 2BR,2BA | $1.29 |
Southwood Flats | 2 Bed, 1 Bath (remodeled) | 2BR,1BA | $1.31 |
The Edge Apartments | Two Bedroom | 2BR,1BA | $1.22 |
442 Belgrade Ave | Two Bedroom | 2BR,1BA | $1.13 |
612 N 4th St, Unit 1 | 612 N 4th St | 2BR,1BA | $1.22 |
Quick Rent Budget Calculator
How much rent can you afford?
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Best Local Schools in Mankato, MN
Prairie Winds Middle School
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Mankato, MN Rentals by Map
See the most popular apartments and homes in Mankato, MN
Getting Around Mankato, MN
Walk Score®
46 / 100
Car-Dependent
Most errands require a car
Bike Score®
57 / 100
Bikeable
Some bike infrastructure
Transit Score®
1 / 100
Minimal Transit
It may be possible to get on a bus
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Mankato Apartments
What is a cheap apartment in Mankato?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Mankato is under $1,200.
What is the price of a cheap apartment in Mankato?
The cheapest apartment in Mankato is Highland Hills Apartments which is listed at $775, while the average apartment in Mankato costs $1,854.
What types of apartments are the cheapest in Mankato?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 66 regular apartments in Mankato that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Mankato?
Cheap apartments in Mankato have an average cost of $961 which is $893 cheaper than the average rent for all rentals in Mankato.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.