325 E Washington St
MankatoMN56001
Cheap Homes for Rent in Downtown Mankato Neighborhood of Mankato, MN from $1,000 (3 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Mankato area of Mankato.
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.
622 S 4th St, Unit 2
622 S 4th St
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.
210 E Elm St, Unit 210
210 E Elm St
MankatoMN56001
Showing Results 1-3, Page 1 of 1
Downtown Mankato, Mankato, MN Local Guide
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 | $1,250 | $1,025 | $1,475 |
| Downtown Mankato 3 Bedroom Homes for Rent | $1,250 | $1,250 | $1,250 |
| Downtown Mankato 4 Bedroom Homes for Rent | $1,706 | $1,324 | $2,300 |
| Downtown Mankato 5 Bedroom Homes for Rent | $2,400 | $2,400 | $2,400 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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.
Explore Mankato
Downtown Mankato, Mankato, MN Local Guide
- Nearby Mankato neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Best Value Apartments for Rent in Downtown Mankato, MN
As of June 06, 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.
Read Article
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.
Read ArticleQuick Rent Budget Calculator
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.
Let everyone know!
Do you know the Downtown Mankato area?
If you’re an expert on all things Downtown Mankato, tell us what you love (and don't) by rating it and writing a review.
Write a Review
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 Downtown Mankato
What type of rentals are currently available in Downtown Mankato?
There are currently 35 Apartments for Rent in Downtown Mankato, MN with pricing that ranges from $800 to $2,600. There are also 10 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Mankato ranging from $1,025 to $2,400.
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 $1,025 to $2,400 with an average monthly rent of $1,600.
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 $1,080 to $1,800, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,250 to $1,250. Four Bedroom Single-Family rentals are also available starting from $1,324 and Four Bedroom Apartments start at $2,080.
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.