Cheap Apartments for Rent in North Mankato, MN from $500 (16 Rentals)

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Search the lowest-cost Apartments available for rent right now in North Mankato.

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.

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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404 S 4th St
Studio to 2 Bedroom Apartments

404 S 4th St

404 S 4th StMankato, MN 56001
  • Utilities Included
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Parkway
1 to 2 Bedroom Apartments

Parkway

101-103 Parkway AveMankato, MN 56001
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Sinclair Flats
2 to 3 Bedroom Apartments

Sinclair Flats

210 Dewey LnMankato, 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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The Preserve Apartments
1 to 3 Bedroom Apartments

The Preserve Apartments

240 Jaycee CtMankato, MN 56001
Student Housing
  • Utilities Included
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River Bluff Suites
1 Bedroom Apartments

River Bluff Suites

123 N 4th StMankato, MN 56001
  • Utilities Included

North Mankato, MN Local Guide

Cheapest Available North Mankato Apartments for Rent

 

The cheapest available apartment rental in North Mankato, MN is a Studio unit found at Highland Hills Apartments in the University neighborhood priced from $720. Commerce Apartments in the City Center Mankato neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $875. Here is today’s list of the most affordable North Mankato apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Highland Hills ApartmentsStudioStudio,1BA$720
Commerce ApartmentsOne Bedroom1BR,1BA$875
Valley View ApartmentsOne Bedroom1BR,1BA$900
Glenwood Terrace2 BR/ 1 BA2BR,1BA$950
442 Belgrade AveTwo Bedroom2BR,1BA$995

Best Value Apartments for Rent in North Mankato, MN

As of July 30, 2025 the best value apartment in the North Mankato area is the $1.36 price per square foot Three Bedroom Two Bath Model at Riverfront Court in the in the University neighborhood starting from $1,450. The second greatest value North Mankato apartment is the 2 Bed, 1 Bath (remodeled) Model at Southwood Flats starting at $1,274 with a $1.26 price per square foot in the University neighborhood. Here is today’s list of the best values for North Mankato apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Riverfront CourtThree Bedroom Two Bath3BR,2BA$1.36
Southwood Flats2 Bed, 1 Bath (remodeled)2BR,1BA$1.26
The Edge ApartmentsTwo Bedroom2BR,1BA$1.27
442 Belgrade AveTwo Bedroom2BR,1BA$1.13
Gray Hawk ApartmentsLarge Two Bedroom2BR,1BA$1.21
Glenwood Terrace2 BR/ 1 BA2BR,1BA$1.14
Cherry Ridge ApartmentsTax Credit2BR,1BA$1.27
1325 Fair Street, Unit #11325 Fair Street2BR,1BA$1.50
Huntington Hills Apartments & Townhomes1BR Apartment1BR,1BA$1.61
Commerce ApartmentsOne Bedroom1BR,1BA$1.46

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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Getting Around North Mankato, MN

Walk Score®

37 / 100

Car-Dependent

Most errands require a car

Bike Score®

45 / 100

Somewhat Bikeable

Minimal bike infrastructure

Frequently Asked Questions about Cheap North Mankato Apartments

How much is rent for a Cheap One Bedroom North Mankato Apartment?

The lowest price for a Cheap One Bedroom North Mankato Apartment is $875 at Commerce Apartments.

What is the lowest price for a Cheap Two Bedroom North Mankato Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in North Mankato is starting from $950 at Glenwood Terrace.

What is the most affordable North Mankato Three Bedroom Apartment?

The best deal on a cheap North Mankato Three Bedroom Apartment rental is at Gray Hawk Apartments and starts from $1,250.

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.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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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.