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$735 - $1,175
Plus Fees12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowVillage Place Apartments
100-104 Thomas DrMankato, MN 56001
Cheap Apartments for Rent in the Downtown Mankato Neighborhood of Mankato, MN from $500 (31 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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$784 - $1,182
Plus Fees12 Month Lease Term
1 to 2 Bedroom Apartments Available NowLewis Lofts
209 Dewey StMankato, MN 56001
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$800
Total Monthly Price6 Month Lease Term
1 Bedroom Apartment Available Mar 8Total Monthly Price
Base Rent
$800
Total Monthly Price
$800
326 E Vine St
326 E Vine StMankato, MN 56001
318 E Walnut St
MankatoMN56001
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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
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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$961 - $1,511
Plus Fees12 Month Lease Term
1 to 3 Bedroom Apartments Available NowRiver Bluff Apartments
405 N 5th StMankato, MN 56001
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$975
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available Aug 1Total Monthly Price
Base Rent
$975
Total Monthly Price
$975
157 E Welcome Ave, Unit 1
157 E Welcome AveMankato, MN 56001
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$995
Total Monthly Price12 Month Lease Term
1 Bedroom Apartment Available Aug 1Total Monthly Price
Base Rent
$995
Total Monthly Price
$995
111 E Cherry St, Unit 121
111 E Cherry 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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$1,000 - $1,100
Plus Fees12 Month Lease Term
2 Bedroom Apartments Available NowRita Road
188-192 Rita RdMankato, 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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$1,100
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
429 State 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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2 Bedroom Apartments
Pfau Reed Apartments
610-620 Reed StMankato, MN 56001
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$1,100
Plus Fees12 Month Lease Term
Studio Apartments Contact Us For AvailabilitySkyway Property Holdings, LLC - (Studio 5)
507 N Riverfront DrMankato, MN 56001
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$1,104 - $1,354
Plus Fees12 Month Lease Term
1 to 2 Bedroom Apartments Available NowSouthwood Flats
520 James AveMankato, MN 56001
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$1,120 - $1,850
Plus Fees12 Month Lease Term
1 to 3 Bedroom Apartments Available NowRiverfront Court
115 S Riverfront DrMankato, 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
$30
Total Monthly Price
$1,131
The Alma
105 E Walnut StMankato, MN 56001
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$1,190 - $1,525
Plus Fees
2 to 3 Bedroom Apartments Available NowDublin Road Townhomes
304-306 Dublin CtMankato, MN 56001
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$1,200 - $2,950
Plus Fees12 Month Lease Term
2 to 5 Bedroom Apartments Available NowHuntington Hills Apartments & Townhomes
744 James AveMankato, MN 56001
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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$1,200
Total Monthly Price6 Month Lease Term
2 Bedroom Apartment Available NowTotal Monthly Price
Base Rent
$1,200
Total Monthly Price
$1,200
119 S 6th St, Unit 1
119 S 6th StMankato, MN 56001
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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
1325 Fair Street, Unit Unit #4
1325 Fair StreetMankato, 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
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1 to 3 Bedroom Apartments
Cherry Ridge Apartments
101 Glenwood AveMankato, MN 56001
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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$875 - $1,000
Plus Fees
1 to 2 Bedroom Apartments Contact Us For AvailabilityCommerce Apartments
1621-1633 Commerce DrNorth Mankato, MN 56003
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$1,028 - $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
Plus Fees
2 Bedroom Apartments Contact Us For AvailabilityHoover Estates
1866 Lee BlvdNorth Mankato, MN 56003
Showing Results 1-31, Page 1 of 1
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 Studio Apartments | $861 | $735 | $1,100 |
| Downtown Mankato 1 Bedroom Apartments | $1,334 | $784 | $2,150 |
| Downtown Mankato 2 Bedroom Apartments | $1,541 | $985 | $2,396 |
| Downtown Mankato 3 Bedroom Apartments | $1,895 | $1,349 | $2,830 |
| Downtown Mankato 4 Bedroom Apartments | $2,036 | $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 31 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 Studio unit found at Village Place Apartments priced from $735. Lewis Lofts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $784. Here are the most affordable Downtown Mankato apartments for rent in Mankato, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Village Place Apartments | Studio | Studio,1BA | $735 |
| Lewis Lofts | 1a1t | 1BR,1BA | $784 |
| Glenwood Terrace | 1 BR/1 BA | 1BR,1BA | $880 |
| River Bluff Apartments | One Bedroom | 1BR,1BA | $961 |
| Cherry Square | 1 Bedroom | 1BR,1BA | $995 |
| Valley View Apartments | Two Bedroom | 2BR,1BA | $1,000 |
| Village Court Apartments | 2 Bed, 1 Bath (original) | 2BR,1BA | $1,028 |
| Rita Road | 2 Bed 1 Bath | 2BR,1BA | $1,100 |
| Pfau Reed Apartments | 2 Beds, 1 bath | 2BR,1BA | $1,100 |
Best Value Apartments for Rent in Downtown Mankato, MN
As of March 07, 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 Three Bedroom One Half Bathroom Model at Sibley Village Townhomes starting at $1,795 with a $1.16 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. |
|---|---|---|---|
| Fox Run Townhomes | 3 bed 2.5 bath (Exterior) | 3BR,2.5BA | $1.19 |
| Sibley Village Townhomes | Three Bedroom One Half Bathroom | 3BR,1.5BA | $1.16 |
| Dublin Road Townhomes | 3 Bedroom 1.5 Bath Affordable | 3BR,1.5BA | $1.17 |
| 225 Belgrade Ave, Unit B | 225 Belgrade Ave | 2BR,1BA | $1.09 |
| Pfau Reed Apartments | 2 Beds, 1 bath | 2BR,1BA | $1.00 |
| Riverfront Court | Three Bedroom Two Bath | 3BR,2BA | $1.36 |
| 119 S 6th St, Unit 1 | 119 S 6th St | 2BR,1BA | $1.20 |
| Rita Road | 2 Bed 1 Bath | 2BR,1BA | $1.29 |
| Bunting Lane Apartments | Individual Roommates Included! | 2BR,2BA | $0.92 |
| Lewis Lofts | 1a1t | 1BR,1BA | $1.27 |
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.
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.
Read ArticleQuick Rent Budget Calculator
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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 #6
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 Lewis Lofts which is listed at $784, while the average apartment in Downtown Mankato costs $2,135.
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 18 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 $675 which is $1,460 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
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.
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.