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$800
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$800
Total Monthly Price
$800
522 S 4th St, Unit 522 South 4th St
522 S 4th StMankato, MN 56001
Cheap Apartments for Rent in the Downtown Mankato Neighborhood of Mankato, MN from $500 (21 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Mankato area of Mankato.
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$800
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available Jul 8Total Monthly Price
Base Rent
$800
Total Monthly Price
$800
609 S Broad St, Unit 1
609 S Broad StMankato, MN 56001
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$895
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available Jul 1Total Monthly Price
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$895
Total Monthly Price
$895
107 E Liberty St, Unit 2
107 E Liberty StMankato, MN 56001
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$925
Total Monthly Price12 Month Lease Term
2 Bedroom Apartment Available Jul 1Total Monthly Price
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$925
Total Monthly Price
$925
505 S 4th St, Unit 2
505 S 4th StMankato, MN 56001
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$995 - $1,195
Plus Fees
1 to 2 Bedroom Apartments Available Jun 11Cherry Square
500 S 2nd StMankato, MN 56001
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$995
Plus Fees12 Month Lease Term
2 Bedroom Apartments Available NowCherry Ridge Apartments
101 Glenwood AveMankato, MN 56001
120 S 4th St
MankatoMN56001
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.
325 E Plum St
MankatoMN56001
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$1,100
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available Jul 1Total Monthly Price
Base Rent
$1,100
Total Monthly Price
$1,100
118 Van Brunt St, Unit 2
118 Van Brunt 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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$1,131 - $1,167
Total Monthly Price12 Month Lease Term
1 Bedroom Apartments Contact Us For AvailabilityTotal Monthly Price
Base Rent
$1,101 - $1,137
Required Monthly Fees
Varies
Total Monthly Price
Varies
The Alma
105 E Walnut StMankato, MN 56001
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$1,200
Total Monthly Price12 Month Lease Term
3 Bedroom Apartment Available Jul 1Total Monthly Price
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$1,200
Total Monthly Price
$1,200
120 Locust St, Unit 5 Upper
120 Locust StMankato, MN 56001
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$1,200
Total Monthly Price12 Month Lease Term
3 Bedroom Apartment Available NowTotal Monthly Price
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$1,200
Total Monthly Price
$1,200
320 E Hickory St, Unit 1
320 E Hickory StMankato, MN 56001
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$1,250
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available Aug 1Total Monthly Price
Base Rent
$1,250
Total Monthly Price
$1,250
516 N Broad St, Unit 2
516 N Broad StMankato, 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.
622 S 4th St, Unit 2
622 S 4th St
MankatoMN56001
210 E Elm St, Unit 210
210 E Elm St
MankatoMN56001
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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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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
Cash 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.
Showing Results 1-21, 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 | $1,100 | $1,100 | $1,100 |
| Downtown Mankato 1 Bedroom Apartments | $1,148 | $800 | $1,654 |
| Downtown Mankato 2 Bedroom Apartments | $1,039 | $925 | $1,450 |
| Downtown Mankato 3 Bedroom Apartments | $1,363 | $1,080 | $1,800 |
| Downtown Mankato 4 Bedroom Apartments | $2,080 | $2,080 | $2,080 |
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 21 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
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Cherry Ridge Apartments | Tax Credit | 2BR,1BA | $995 |
| Riverfront Court | New One Bedroom/ One Bathroom | 1BR,1BA | $1,300 |
Best Value Apartments for Rent in Downtown Mankato, MN
As of June 05, 2026 the best value apartment in the Downtown Mankato area is the $1.04 price per square foot 508 S 4th St Model at 508 S 4th St, Unit Unit #1 in the in the University neighborhood starting from $2,600. The second greatest value Downtown Mankato apartment is the 320 E Hickory St Model at 320 E Hickory St, Unit 1 starting at $1,200 with a $1.20 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. |
|---|---|---|---|
| 508 S 4th St, Unit Unit #1 | 508 S 4th St | 5BR,2BA | $1.04 |
| 320 E Hickory St, Unit 1 | 320 E Hickory St | 3BR,1BA | $1.20 |
| Riverfront Court | New One Bedroom/ One Bathroom | 1BR,1BA | $1.45 |
| Cherry Ridge Apartments | Tax Credit | 2BR,1BA | $1.21 |
| 522 S 4th St, Unit 522 South 4th St | 522 S 4th St | 1BR,1BA | $1.14 |
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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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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 #13
Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.0Pet Friendly
Frequently Asked Questions about Cheap Downtown Mankato Apartments
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 8 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 $663 which is $1,937 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
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.