Cost of Living in Mankato, MN
Population 45,473 · Census ACS 2020–2024 5-year estimates
The median rent in Mankato, MN is $1,132/month, 12% lower than the Minnesota median and 20% lower than the U.S. median. The median home value is $261,700, 21% lower than the national median. Households earn a median of $66,873 a year, 25% lower than the state median.
Affordability
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Mankato vs. Minnesota vs. U.S.
| Mankato | Minnesota | U.S. | |
|---|---|---|---|
| Median rent | $1,132 | $1,280 | $1,413 |
| Median home value | $261,700 | $329,300 | $332,700 |
| Median household income | $66,873 | $89,062 | $80,734 |
| Homeownership rate | 50.0% | 72.2% | 65.2% |
| Bachelor's degree or higher | 35.1% | 39.4% | 35.7% |
| Poverty rate | 20.6% | 9.3% | 12.5% |
| Unemployment rate | 6.0% | 4.1% | 5.2% |
| Work from home | 7.8% | 17.6% | 15.1% |
| Median age | 26.5 | 38.8 | 38.9 |
FAQ
What is the average rent in Mankato, MN?
The median gross rent in Mankato, MN is $1,132 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Mankato, MN?
Using the common 30% rule, renting a median-priced home takes about $45,280 a year in gross income.
Is Mankato, MN expensive to live in?
Rent there is 20% lower than the U.S. median, and the median home costs about 3.9 times the median household income.
Other cities in Minnesota
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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