326 E Washington St
MankatoMN56001
Cheap Homes for Rent in Mankato, MN from $800 (5 Rentals)
Search the lowest-cost Homes available for rent right now in Mankato.
325 E Washington 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.
418 Allan Ave
North MankatoMN56003
109 Florence 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.
101 Parkway Ave, Unit Apt B, Unit Apt B
101 Parkway Ave
Eagle LakeMN56024
Showing Results 1-5, Page 1 of 1
Mankato, MN Local Guide
How much does it cost to rent a home in Mankato?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Mankato 2 Bedroom Homes for Rent | $1,514 | $1,025 | $2,500 |
| Mankato 3 Bedroom Homes for Rent | $1,818 | $1,400 | $2,495 |
| Mankato 4 Bedroom Homes for Rent | $2,034 | $1,324 | $2,600 |
| Mankato 5 Bedroom Homes for Rent | $2,261 | $1,745 | $2,800 |
| Mankato 6 Bedroom Homes for Rent | $2,700 | $2,700 | $2,700 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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Mankato, MN Local Guide
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Cheapest Neighborhoods for Apartments in Mankato, MN
Pricing Updated: 05/20/2026Current apartment rentals in the Mankato, MN area range in price from $750 to $2,764 with an overall median price of $2,236. The three Mankato neighborhoods with the lowest median rent pricing are North Industrial Mankato at $800, The Prairie at $800, and City Center Mankato at $750. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Mankato Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| North Industrial Mankato | $1,600 | $800 | 55 |
| The Prairie | $2,135 | $800 | 85 |
| City Center Mankato | $2,267 | $750 | 90 |
| East Mankato | $2,267 | $750 | 110 |
| Erlandson Park | $2,267 | $750 | 111 |
| Five Corners | $2,267 | $750 | 95 |
| Lincoln Park | $2,267 | $750 | 90 |
| Riverfront Park | $2,267 | $750 | 94 |
| University | $2,267 | $750 | 56 |
| Washington Park | $2,267 | $750 | 94 |
Cheapest Available Mankato Apartments for Rent
The cheapest available apartment rental in Mankato, MN is a 1 Bed unit found at 442 Belgrade Ave in the City Center Mankato neighborhood priced from $835. Lewis Lofts in the University neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $855. Here is today’s list of the most affordable Mankato apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 442 Belgrade Ave | One Bedroom | 1BR,1BA | $835 |
| Lewis Lofts | 1a1t | 1BR,1BA | $855 |
| Glenwood Terrace | 1 BR/1 BA | 1BR,1BA | $880 |
Best Value Apartments for Rent in Mankato, MN
As of May 20, 2026 the best value apartment in the 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 Mankato apartment is the 220 State St Model at 220 State St starting at $1,400 with a $1.00 price per square foot in the University neighborhood. Here is today’s list of the best values for 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 |
| 220 State St | 220 State St | 3BR,1BA | $1.00 |
| Sibley Village Townhomes | Two Bedroom One Half Bathroom | 2BR,1.5BA | $1.16 |
| Dublin Road Townhomes | 3 Bedroom 1.5 Bath Market | 3BR,1.5BA | $1.20 |
| Fox Meadows Townhomes | Three Bed - Market | 3BR,1.5BA | $1.22 |
| 320 E Hickory St, Unit 1 | 320 E Hickory St | 3BR,1BA | $1.20 |
| 305 1/2 Elm St, Unit 305.5 | 305 1/2 Elm St | 1BR,1BA | $1.02 |
| 442 Belgrade Ave | Two Bedroom | 2BR,1BA | $1.12 |
| Cherry Ridge Apartments | Tax Credit | 2BR,1BA | $1.21 |
| Bunting Lane Apartments | Individual Roommates Included! | 2BR,2BA | $0.92 |
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.
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Best Local Schools in Mankato, MN
Prairie Winds Middle School
Mankato Public School District
Public School - Grades 6-8 (954)
5 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
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Frequently Asked Questions about Mankato
What type of rentals are currently available in Mankato?
There are currently 174 Apartments for Rent in Mankato, MN with pricing that ranges from $750 to $2,794. There are also 50 Single Family Homes for rent, Condos, and Townhome rentals currently available in Mankato ranging from $875 to $2,800.
What is the current price range for Rental Homes in Mankato?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Mankato ranges from $875 to $2,800 with an average monthly rent of $1,927.
How much are larger Three and Four Bedroom Rentals in Mankato?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Mankato range from $1,200 to $2,794, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,400 to $2,495. Four Bedroom Single-Family rentals are also available starting from $1,324 and Four Bedroom Apartments start at $1,600.
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
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.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
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.