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$500
Total Monthly Price12 Month Lease Term
Studio Apartment Available Jun 1Total Monthly Price
Base Rent
$500
Total Monthly Price
$500
327 E Cherry St
327 E Cherry StMankato, MN 56001
Cheap Apartments for Rent in the Downtown Mankato Neighborhood of Mankato, MN from $500 (44 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Mankato area of Mankato.
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$750 - $1,980
Plus Fees12 Month Lease Term
Studio to 5 Bedroom Apartments Contact Us For AvailabilityHighland Hills Apartments
1340 Warren StMankato, MN 56001
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Rent Specials
$880 - $985
Plus Fees12 Month Lease Term
1 to 2 Bedroom Apartments Available NowGlenwood Terrace
107-115 Parkway AveMankato, MN 56001
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$900 - $1,000
Plus Fees12 Month Lease Term
1 to 2 Bedroom Apartments Available NowValley View Apartments
450-470 James AveMankato, MN 56001
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$900 - $925
Total Monthly Price12 Month Lease Term
1 to 2 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$900 - $925
Total Monthly Price
$900 - $925
612 N 4th St
612 N 4th StMankato, MN 56001
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$920
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$920
Total Monthly Price
$920
305 1/2 Elm St, Unit 305.5, Unit 305.5
305 1/2 Elm StMankato, MN 56001
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$950
Total Monthly Price12 Month Lease Term
2 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$950
Total Monthly Price
$950
717 N 2nd St, Unit 4, Unit 4
717 N 2nd StMankato, MN 56001
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$975
Total Monthly Price12 Month Lease Term
2 Bedroom Apartment Available Aug 1Total Monthly Price
Base Rent
$975
Total Monthly Price
$975
141 E Welcome Ave, Unit M Hanson Prop., Unit M Hanson Prop.
141 E Welcome AveMankato, MN 56001
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
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$975
Total Monthly Price12 Month Lease Term
2 Bedroom Apartment Available Aug 1Total Monthly Price
Base Rent
$975
Total Monthly Price
$975
108 Glenwood Ave, Unit Upper, Unit Upper
108 Glenwood AveMankato, MN 56001
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$995 - $1,295
Plus Fees
1 to 2 Bedroom Apartments Available NowCherry Square
500 S 2nd StMankato, MN 56001
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$1,000 - $1,050
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available Apr 30Village Place Apartments of Mankato
100-104 Thomas DrMankato, MN 56001
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$1,000 - $2,250
Plus Fees12 Month Lease Term
1 to 4 Bedroom Apartments Available NowHuntington Hills Apartments & Townhomes
744 James AveMankato, MN 56001
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$1,011 - $1,511
Total Monthly Price12 Month Lease Term
1 to 3 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$1,000 - $1,500
Required Monthly Fees
$11
Total Monthly Price
$1,011 - $1,511
River Bluff Apartments
405 N 5th StMankato, MN 56001
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$1,020 - $1,100
Plus Fees12 Month Lease Term
2 Bedroom Apartments Contact Us For AvailabilityGray Hawk Apartments
160-180 Homestead RdMankato, MN 56001
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$1,061 - $1,311
Total Monthly Price12 Month Lease Term
1 to 2 Bedroom Apartments Available May 8Total Monthly Price
Base Rent
$1,050 - $1,300
Required Monthly Fees
$11
Total Monthly Price
$1,061 - $1,311
The Edge Apartments
1902 Warren StMankato, MN 56001
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$1,095
Plus Fees12 Month Lease Term
2 Bedroom Apartments Available NowCherry Ridge Apartments
101 Glenwood AveMankato, MN 56001
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
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$1,095
Total Monthly Price12 Month Lease Term
2 Bedroom Apartment Available Jul 1Total Monthly Price
Base Rent
$1,095
Total Monthly Price
$1,095
407 Glenwood Ave, Unit 2, Unit 2
407 Glenwood AveMankato, MN 56001
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$1,100
Total Monthly Price12 Month Lease Term
2 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$1,100
Total Monthly Price
$1,100
429 State St, Unit 203, Unit 203
429 State StMankato, MN 56001
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$1,100
Plus Fees12 Month Lease Term
Studio Apartments Contact Us For AvailabilitySkyway Properties LLC
507 N Riverfront DrMankato, MN 56001
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$1,100
Plus Fees12 Month Lease Term
2 Bedroom Apartments Available NowRita Road
188-192 Rita RdMankato, MN 56001
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$1,114 - $1,364
Plus Fees12 Month Lease Term
1 to 2 Bedroom Apartments Available NowSouthwood Flats
520 James AveMankato, MN 56001
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$1,131
Total Monthly Price12 Month Lease Term
1 Bedroom Apartments Contact Us For AvailabilityTotal Monthly Price
Base Rent
$1,101
Required Monthly Fees
Varies
Total Monthly Price
Varies
The Alma
105 E Walnut StMankato, MN 56001
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$1,200 - $1,400
Total Monthly Price12 Month Lease Term
3 Bedroom Apartment Available May 1Total Monthly Price
Base Rent
$1,200 - $1,400
Total Monthly Price
$1,200 - $1,400
220 State St
220 State StMankato, MN 56001
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$1,200
Total Monthly Price12 Month Lease Term
3 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$1,200
Total Monthly Price
$1,200
320 E Hickory St, Unit 1, Unit 1
320 E Hickory StMankato, MN 56001
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.
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$1,200
Total Monthly Price12 Month Lease Term
2 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$1,200
Total Monthly Price
$1,200
313 E Rock St, Unit 2, Unit 2
313 E Rock StMankato, MN 56001
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$1,214 - $1,689
Total Monthly Price
1 to 3 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$1,175 - $1,650
Required Monthly Fees
$39
Total Monthly Price
$1,214 - $1,689
Legacy Park Estates
100 Dublin CtMankato, MN 56001
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$1,300 - $1,800
Plus Fees12 Month Lease Term
1 to 3 Bedroom Apartments Available NowRiverfront Court
115 S Riverfront DrMankato, MN 56001
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$1,300 - $1,500
Plus Fees12 Month Lease Term
1 to 2 Bedroom Apartments Available NowCardinal Creek Apartments
111 Redtail CtMankato, MN 56001
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$1,300
Total Monthly Price12 Month Lease Term
2 Bedroom Apartment Available Aug 1Total Monthly Price
Base Rent
$1,300
Total Monthly Price
$1,300
1428 N 4th St, Unit #1, Unit #1
1428 N 4th StMankato, MN 56001
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$1,349
Plus Fees
3 Bedroom Apartments Available NowCedar Meadow Apartments
701 S Victory DrMankato, MN 56001
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Rent Specials
$1,359 - $2,135
Plus Fees12 Month Lease Term
3 to 5 Bedroom Apartments Available Aug 1College Station
1341 Pohl RdMankato, MN 56001
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$1,395 - $1,650
Plus Fees12 Month Lease Term
1 to 2 Bedroom Apartments Available Jun 1Westview Heights
2085 Carlson DrMankato, MN 56003
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.
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Rent Specials
$1,400 - $2,125
Total Monthly Price12 Month Lease Term
1 to 3 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$1,400 - $2,125
Total Monthly Price
$1,400 - $2,125
Pond View Heights Apartments
1015 Hope StMankato, MN 56001
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Studio to 2 Bedroom Apartments
404 S 4th St
404 S 4th StMankato, MN 56001
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Studio to 2 Bedroom Apartments
River Bluff Suites
123 N 4th StMankato, MN 56001
325 E Washington St
MankatoMN56001
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Studio to 2 Bedroom Apartments
107 S 5th St
107 S 5th StMankato, MN 56001
319 E Main St
MankatoMN56001
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$850
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$850
Total Monthly Price
$850
329 Belgrade Ave, Unit 2, Unit 2
329 Belgrade AveNorth Mankato, MN 56003
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$875 - $1,000
Plus Fees
1 to 2 Bedroom Apartments Contact Us For AvailabilityCommerce Apartments
1621-1633 Commerce DrNorth Mankato, MN 56003
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.
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$928 - $1,199
Plus Fees12 Month Lease Term
1 to 2 Bedroom Apartments Available NowVillage Court Apartments
1620 Village CtNorth Mankato, MN 56003
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$1,065
Total Monthly Price
2 Bedroom Apartments Contact Us For AvailabilityTotal Monthly Price
Base Rent
$1,050
Required Monthly Fees
$15
Total Monthly Price
$1,065
Hoover Estates
1866 Lee BlvdNorth Mankato, MN 56003
312 Belgrade Ave
North MankatoMN56003
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Rent Specials
$1,250 - $1,545
Plus Fees
1 to 2 Bedroom Apartments Available NowThe Forde
1111 Range StNorth Mankato, MN 56003
Showing Results 1-44, Page 1 of 1
Downtown Mankato, Mankato, MN Local Guide
How much does it cost to rent an apartment in Downtown Mankato?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Mankato Studio Apartments | $783 | $500 | $1,100 |
| Downtown Mankato 1 Bedroom Apartments | $1,328 | $850 | $2,120 |
| Downtown Mankato 2 Bedroom Apartments | $1,543 | $900 | $2,370 |
| Downtown Mankato 3 Bedroom Apartments | $1,830 | $1,200 | $2,794 |
| Downtown Mankato 4 Bedroom Apartments | $2,176 | $1,780 | $2,400 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 44 rentals with your search options within a 2 mile radius of the Downtown Mankato Neighborhood of Mankato, MN.
See all Apartments in MankatoExplore Mankato
Downtown Mankato, Mankato, MN Local Guide
- Nearby Mankato neighborhoods
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Cheapest Available Downtown Mankato Apartments for Rent
The cheapest available apartment rental in the Downtown Mankato area of Mankato, MN is a 1 Bed unit found at Glenwood Terrace priced from $880. Cherry Square has the second lowest priced unit, which is a 1 Bed apartment currently listed from $995. Here are the most affordable Downtown Mankato apartments for rent in Mankato, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Glenwood Terrace | 1 BR/1 BA | 1BR,1BA | $880 |
| Cherry Square | 1 Bedroom | 1BR,1BA | $995 |
| Valley View Apartments | Two Bedroom | 2BR,1BA | $1,000 |
| River Bluff Apartments | One Bedroom | 1BR,1BA | $1,011 |
| Village Court Apartments | 2 Bed, 1 Bath (original) | 2BR,1BA | $1,028 |
| Cherry Ridge Apartments | Tax Credit | 2BR,1BA | $1,095 |
Best Value Apartments for Rent in Downtown Mankato, MN
As of April 21, 2026 the best value apartment in the Downtown Mankato area is the $1.19 price per square foot 3 bed 2.5 bath (Exterior) Model at Fox Run Townhomes in the in the City Center Mankato neighborhood starting from $2,095. The second greatest value Downtown Mankato apartment is the 3 Bedroom 1.5 Bath Affordable Model at Dublin Road Townhomes starting at $1,633 with a $1.28 price per square foot in the City Center Mankato neighborhood. Here is today’s list of the best values for Downtown Mankato apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Fox Run Townhomes | 3 bed 2.5 bath (Exterior) | 3BR,2.5BA | $1.19 |
| Dublin Road Townhomes | 3 Bedroom 1.5 Bath Affordable | 3BR,1.5BA | $1.28 |
| Legacy Park Estates | Three Bedroom 1.75 Bathroom | 3BR,1.75BA | $1.22 |
| 313 E Rock St, Unit 2 | 313 E Rock St | 2BR,1BA | $1.09 |
| 320 E Hickory St, Unit 1 | 320 E Hickory St | 3BR,1BA | $1.20 |
| 305 1/2 Elm St, Unit 305.5 | 305 1/2 Elm St | 1BR,1BA | $1.02 |
| Rita Road | 2 Bed 1 Bath | 2BR,1BA | $1.29 |
| Cherry Ridge Apartments | Tax Credit | 2BR,1BA | $1.33 |
| 329 Belgrade Ave, Unit 2 | 329 Belgrade Ave | 1BR,1BA | $1.06 |
| Bunting Lane Apartments | Individual Roommates Included! | 2BR,2BA | $0.92 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
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Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
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How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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Pet Friendly LifestyleDowntown Mankato, Mankato, MN
Ranked #4
Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Cheap Downtown Mankato Apartments
What is the price of a cheap apartment in Downtown Mankato?
The cheapest apartment in Downtown Mankato is Glenwood Terrace which is listed at $880, while the average apartment in Downtown Mankato costs $2,250.
What types of apartments are the cheapest in Downtown 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 21 regular apartments in Downtown 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 Downtown Mankato?
Cheap apartments in Downtown Mankato have an average cost of $726 which is $1,524 cheaper than the average rent for all rentals in Downtown Mankato.
Expert Rental Resources
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.
Articles, How-To's, and Tips
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.