3

Studio Apartments for Rent in Mankato, MN

Section Image
  • /29

    Starting at $1,315

    Total Monthly Price

    • Studio - 2 Beds

    1690 Premier Dr, Mankato, MN 56001

    Now Accepting Applications – Apply Today!Don’t miss your opportunity to call Augusta Park Estates home. We are currently accepting applications, and availability is limited—apply today to secure your new apartment.Augusta Park Estates offers studio, one-, and two-bedroom apartment homes with open-concept floor plans designed for modern, comfortable living. Apartment features include

    Augusta Park Estates

    (507) 204-9158

    1690 Premier Dr, Mankato, MN 56001
  • /40

    Starting at $1,070

    Total Monthly Price

    • Studio - 3 Beds

    161-351 E Roosevelt Cir, Mankato, MN 56001

    Woodside Apartments offers Studios, One, Two and Three Bedroom apartments.  Located across the street from the WOW! Zone: Family Entertainment Center, Hilltop Hy-Vee, and the River Hills Mall.  Both Highway 14 and 22 are within a one-minute drive. Clubhouse building features luxury One & Two Bedroom Apartments. Units have 9 ft. ceilings, granite countertops, stainless steel appliances,

    Woodside Apartments

    (507) 257-0362

    161-351 E Roosevelt Cir, Mankato, MN 56001
  • /35

    Starting at $750 Plus Fees

    • Studio - 5 Beds

    1340 Warren St, Mankato, MN 56001

    We offer tours Monday through Friday from 9:30am to 4:00pm. Stop by our office located at 1340 Warren Street to talk about housing options that will work for you!

    Highland Hills Apartments

    (507) 522-5747

    1340 Warren St, Mankato, MN 56001

Why Live in Mankato

Outdoor recreation defines daily life in Mankato, with Minneopa State Park's majestic waterfalls and roaming bison herd drawing nature lovers year-round. Mount Kato provides skiing and snowboarding in winter, while transforming into mountain biking trails during summer months. The Minnesota and Blue Earth Rivers create endless possibilities for kayaking, canoeing, and fishing, complemented by the paved Red Jacket Trail system. Cultural attractions include live performances at Minnesota State University's Performing Arts Center and summer concerts at Vetter Stone Amphitheater. The dining scene features local favorites like El Mazatlan Mexican Restaurant, known for their Mazatan Cheese Steak, and Pagliai's Pizza's renowned pies and craft beer selection.

The median sale price for homes in Mankato is $310,000, with single-family homes ranging from $167,000 in Five Corners to $375,000 in Country Club Estates. Highland Park's median single-family home price sits at $264,000, while Sibley Park homes typically sell for $209,500. Townhomes have a median price of $299,900, and two-bedroom condos average $200,400.

Living costs run 5.2% below the national average. A family with school-age children needs approximately $100,000 annually to live comfortably, while renters should aim for $53,000. Property taxes in Blue Earth County stand at 0.98%, lower than neighboring Waseca at 1.19%. The public school system includes highly rated Franklin and Jefferson Elementary Schools. Minnesota State University Mankato serves as a major employer alongside Mayo Clinic Health System and Taylor Corporation. The Mankato Transit System connects residents throughout the city, while Minneapolis-St. Paul International Airport lies 75 miles away, typically a 1.5-hour drive.

Frequently Asked Questions

How much does it cost to rent a home in Mankato, MN?
The median rent for a home in Mankato, MN is $1,500 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Mankato, MN?
To comfortably afford the median rent in Mankato, MN, a household needs to earn roughly $60,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,500 per month in Mankato, MN, renters typically need to show $4,500 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Mankato, MN?
In Mankato, MN, the price-to-rent ratio is 16.4, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends in Mankato, MN

Rental Home Trends

Number of Homes for Rent
3
Median Rent
$1,500
Median Single Family Home Rent
$1,695
Median Townhouse Rent
$1,850
Median Condo Rent
$1,275
How to Rent a Home