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$750
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available Feb 1, 2026Total Monthly Price
Base Rent
$750
Total Monthly Price
$750
505 S 4th St, Unit 3
505 S 4th StMankato, MN 56001
Cheap Apartments for Rent in the Downtown Mankato Neighborhood of Mankato, MN from $500 (10 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Mankato area of Mankato.
204 N 5th St
MankatoMN56001
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$915
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available Jan 1, 2026Total Monthly Price
Base Rent
$915
Total Monthly Price
$915
107 E Liberty St, Unit 1
107 E Liberty StMankato, MN 56001
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$975
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available Feb 1, 2026Total Monthly Price
Base Rent
$975
Total Monthly Price
$975
329 N Riverfront Dr, Unit 1
329 N Riverfront DrMankato, MN 56001
329 N Riverfront Dr
MankatoMN56001
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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$975
Total Monthly Price6 Month Lease Term
1 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$975
Total Monthly Price
$975
221 State St, Unit 1
221 State StMankato, 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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209 1/2 Cross Street
209 Cross St
North MankatoMN56003
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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Downtown Mankato, Mankato, MN Local Guide
Bison cooling off at Minneopa State Park by Lorie Shaull is licensed under CC BY 2.0
How much does it cost to rent an apartment in Downtown Mankato?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Mankato 1 Bedroom Apartments | $1,178 | $800 | $1,754 |
| Downtown Mankato 2 Bedroom Apartments | $1,278 | $1,120 | $1,400 |
| Downtown Mankato 3 Bedroom Apartments | $1,650 | $1,450 | $1,850 |
| Downtown Mankato 4 Bedroom Apartments | $1,800 | $1,800 | $1,800 |
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 10 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
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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 Cherry Square priced from $995. Riverfront Court has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,120. Here are the most affordable Downtown Mankato apartments for rent in Mankato, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Cherry Square | 1 Bedroom | 1BR,1BA | $995 |
| Riverfront Court | Two Bedroom/ One Bathroom w Balcony | 2BR,1BA | $1,120 |
| Silos Apartments | 1 Bed, 1 Bath (Type C) | 1BR,1BA | $1,454 |
Best Value Apartments for Rent in Downtown Mankato, MN
As of December 05, 2025 the best value apartment in the Downtown Mankato area is the $1.64 price per square foot 2BR/2.0BA Model at Bridge Plaza Apartments in the in the University neighborhood starting from $2,700. The second greatest value Downtown Mankato apartment is the Three Bedroom Two Bath Model at Riverfront Court starting at $1,450 with a $1.36 price per square foot in the University 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. |
|---|---|---|---|
| Bridge Plaza Apartments | 2BR/2.0BA | 2BR,2BA | $1.64 |
| Riverfront Court | Three Bedroom Two Bath | 3BR,2BA | $1.36 |
| 225 Belgrade Ave, Unit B | 225 Belgrade Ave | 2BR,1BA | $1.38 |
| 221 State St, Unit 1 | 221 State St | 1BR,1BA | $1.39 |
| Silos Apartments | 1 Bed, 1 Bath (Type C) | 1BR,1BA | $2.16 |
| Cherry Square | 1 Bedroom | 1BR,1BA | $1.89 |
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.
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The 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.
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Pet Friendly LifestyleDowntown Mankato, Mankato, MN
Ranked #10
Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.0Pet Friendly
Getting Around the Downtown Mankato Neighborhood in Mankato, MN
Walk Score®
87 / 100
Very Walkable
Most errands can be accomplished on foot
Bike Score®
82 / 100
Very Bikeable
Biking is convenient for most trips
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 Downtown Mankato Apartments
How much is rent for a Cheap One Bedroom Downtown Mankato Apartment?
The lowest price for a Cheap One Bedroom Downtown Mankato Apartment is $995 at Cherry Square.
What is the lowest price for a Cheap Two Bedroom Downtown Mankato Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Downtown Mankato is starting from $1,120 at Riverfront Court.
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.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.