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These days, finding an affordable place to live in the Mankato area can be challenging. Home prices in Mankato are now at a median cost of $273,910, lower than the Minnesota average of $345,793.
The average cost of rent is $1,286/mo in Mankato, primarily driven by the current value of real estate in the Mankato area. In Mankato, 46.21% of households rent, and 41.90% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Mankato is $6,320 per month. Households that rent pay about 20.35% of their income on rent here. Mankato’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Skyline, MN: higher priced homes
- North Mankato, MN: equally priced homes
- Eagle Lake, MN: equally priced homes
- Rapidan, MN: higher priced homes
- Kasota, MN: higher priced homes
- St. Clair, MN: equally priced homes
- Madison Lake, MN: higher priced homes
- Good Thunder, MN: equally priced homes
- Marysburg, MN: higher priced homes
- Judson, MN: equally priced homes
Cities with Similar Populations
- Cypress, CA: higher priced homes
- St. Louis Park, MN: higher priced homes
- Snohomish, WA: higher priced homes
- Grapevine, TX: higher priced homes
- Urbana, IL: less expensive homes
- Granada Hills, CA: higher priced homes
- Parkway, CA: higher priced homes
- Florin, CA: higher priced homes
- Florence, KY: less expensive homes
- Euclid, OH: less expensive homes
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