Why Live in University Park
University Park in Mankato is a diverse neighborhood with various housing options, including rental cottages in College Town for undergraduates, apartments in Rosa Place, and mobile homes in the University Park Mobile Home Community. Single-family homes, built mainly in the early to mid-2000s, feature ranch-style and Craftsman architecture. The neighborhood is home to several parks, such as the Community Athletic Fields, which offer baseball diamonds, softball fields, and a paved trail, and Lion’s Park, ideal for playground visits and fishing. Minneopa State Park, less than 10 miles away, provides hiking trails and opportunities to observe bison in their natural habitat. University Park is conveniently located half a mile from the MSU campus, where residents can enjoy dining options like Shawarmania Mediterranean Grill and Weggy’s on Campus. For grocery shopping, Aldi and Walmart are about 3 miles away. The area is primarily car-dependent, with major employers like Mayo Clinic Health Systems and Old Town Mankato less than 3 miles away. Traffic can increase during the fall and spring semesters due to the influx of students. The neighborhood is served by Mankato Area Public Schools, with highly rated institutions such as Prairie Winds Middle and Mankato East High, which boasts a 93% graduation rate and various after-school activities. MSU, located nearby, enrolls around 14,000 students annually and offers the state's only four-year aviation program.
Frequently Asked Questions
Is University Park a good place to live?
University Park is a good place to live. University Park is considered very car-dependent and somewhat bikeable. University Park has 3 parks for recreational activities. It is somewhat dense in population with 10.7 people per acre and a median age of 26. The average household income is $74,549 which is below the national average. College graduates make up 39.1% of residents. A majority of residents in University Park are home owners, with 49.2% of residents renting and 50.8% of residents owning their home. A
local real estate agent serving University Park can help you decide if this neighborhood is the right one for you. Learn more on our
University Park neighborhood guide.
How much do you need to make to afford a house in University Park?
The median home price in University Park is $244,950. If you put a 20% down payment of $49,000 and had a 30-year fixed mortgage with an interest rate of 6.35%, your estimated principal and interest payment would be $1,220 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $52K a year to afford the median home price in University Park. The average household income in University Park is $75K.
What are the best public schools in University Park?
The best public schools that serve University Park are:
What are the most popular zip codes in University Park, Mankato, MN?
What are the most popular neighborhoods near University Park, Mankato, MN?
Are home prices dropping in University Park?
Yes, home prices in University Park are down 22% in the last 12 months.
Home Trends in University Park, MN
On average, homes in University Park, Mankato sell after 61 days on the market compared to the national average of 52 days. The median sale price for homes in University Park, Mankato over the last 12 months is $240,000, down 27% from the median home sale price over the previous 12 months.
Median Sale Price
$240,000
Median Single Family Sale Price
$240,000
Average Price Per Sq Ft
$133
Number of Homes for Sale
1
Last 12 months Home Sales
13
Median List Price
$244,950
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-27%