327 E Walnut St
MankatoMN56001
Cheap Homes for Rent in Downtown Mankato Neighborhood of Mankato, MN from $1,200 (3 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Mankato area of Mankato.
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.
112 S 5th St
MankatoMN56001
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.
210 S 4th St
MankatoMN56001
Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.
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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 a home in Downtown Mankato?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Mankato 2 Bedroom Homes for Rent | $1,200 | $1,200 | $1,200 |
| Downtown Mankato 3 Bedroom Homes for Rent | $1,300 | $1,300 | $1,300 |
| Downtown Mankato 4 Bedroom Homes for Rent | $1,500 | $1,500 | $1,500 |
Browse Homes for Rent in this Neighborhood
There are currently 3 rentals with your search options within a 2 mile radius of the Downtown Mankato Neighborhood of Mankato, MN.
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Downtown Mankato, Mankato, MN Local Guide
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Best Value Apartments for Rent in Downtown Mankato, MN
As of May 17, 2025 the best value apartment in the Downtown Mankato area is the $1.12 price per square foot Three Bedroom One Half Bathroom Model at Sibley Village Townhomes in the in the University neighborhood starting from $1,730. The second greatest value Downtown Mankato apartment is the 220 State St Model at 220 State St, Unit #2 2nd Floor starting at $1,400 with a $0.93 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. |
|---|---|---|---|
| Sibley Village Townhomes | Three Bedroom One Half Bathroom | 3BR,1.5BA | $1.12 |
| 220 State St, Unit #2 2nd Floor | 220 State St | 3BR,1BA | $0.93 |
| 241 Belgrade Ave, Unit 241.5 | 241 Belgrade Ave | 3BR,1BA | $1.47 |
| 210 Cross St, Unit Upper | 210 Cross St | 3BR,1BA | $1.19 |
| M² Lofts | 2BR/2.0BA | 2BR,2BA | $1.57 |
| Silos Apartments | 2 Bed, 2 Bath (Type A) | 2BR,2BA | $1.75 |
| Riverfront Court | Three Bedroom Two Bath | 3BR,2BA | $1.36 |
| Huntington Hills Apartments & Townhomes | 2 Bedroom Apartment | 2BR,1BA | $1.37 |
| River Bluff Apartments | Two Bedroom | 2BR,1BA | $1.55 |
| Axis Lofts | 1 Bedroom | 1BR,1BA | $1.64 |
Quick 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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Frequently Asked Questions about Downtown Mankato
What type of rentals are currently available in Downtown Mankato?
There are currently 46 Apartments for Rent in Downtown Mankato, MN with pricing that ranges from $600 to $3,725. There are also 3 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Mankato ranging from $1,200 to $1,500.
What is the current price range for Rental Homes in Downtown Mankato?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Mankato ranges from $1,200 to $1,500 with an average monthly rent of $1,333.
How much are larger Three and Four Bedroom Rentals in Downtown Mankato?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Mankato range from $1,300 to $1,730, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,300 to $1,300. Four Bedroom Single-Family rentals are also available starting from $1,500 and Four Bedroom Apartments start at $1,500.
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.
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.
Rise of Digital Nomads: Remote Work Tips for Apartment Renters
Written by: Brandie Parton
As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.