Rent in Mankato, MN at a glance
2-bedroom rent (HUD)
$1,171$14,052 a year · HUD fiscal year 2026From October 1, 2026: $1,230 (+5%)How much rent can you afford in Mankato, MN?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
Rent in Mankato, MN by bedroom, and the pay it takes
Income needed keeps rent at 30% of gross pay; the hourly figure assumes one full-time job, 2,080 hours a year.
| Size | A month | A year | Income needed | Hourly wage needed |
|---|---|---|---|---|
| Studio | $971 | $11,652 | $38,840 | $18.67/hr |
| 1 bedroom | $977 | $11,724 | $39,080 | $18.79/hr |
| 2 bedroomsMost searched | $1,171 | $14,052 | $46,840 | $22.52/hr |
| 3 bedrooms | $1,629 | $19,548 | $65,160 | $31.33/hr |
| 4 bedrooms | $1,916 | $22,992 | $76,640 | $36.85/hr |
Cost of living in Mankato, MN: income, prices and a budget →
Living and working in Mankato, MN
Rent in Mankato, MN: common questions
How much is rent going up in Mankato, MN in 2027?
HUD's Fair Market Rent for fiscal 2027, which takes effect October 1, 2026, is $1,230 for a two-bedroom, up 5% from $1,171. A one-bedroom goes from $977 to $1,023, a studio from $971 to $1,016.
These are HUD's estimates of what a typical recently rented unit costs, used for housing vouchers. A landlord's increase on your lease follows your lease and your state's rules, not this figure.
What is the average rent in Mankato, MN?
HUD's Fair Market Rent for 2026 is $977 for a one-bedroom and $1,171 for a two-bedroom, utilities included. That is $14,052 a year for the two-bedroom.
It is not an average of current listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so asking rents on newer places usually run higher.
How much do you need to make to afford rent in Mankato, MN?
To keep a $1,171 two-bedroom at 30% of gross pay, one full-time worker needs $22.52 an hour, or $46,840 a year. A one-bedroom at $977 takes $18.79 an hour.
How much is a 1, 2 or 3-bedroom apartment in Mankato, MN?
At HUD's 2026 Fair Market Rent: studio $971, one bedroom $977, two $1,171, three $1,629 and four $1,916 a month.
Is rent affordable in Mankato, MN?
For the typical household, earning $66,873 a year ($5,573 a month, Census ACS), a two-bedroom at $1,171 takes 21% of income. Under 30% is the usual line for affordable; this is under it.
How is the income needed for rent worked out?
Rent for a year divided by 0.30, the share of gross income HUD treats as affordable: ($1,171 × 12) ÷ 0.30 = $46,840. Divided by 2,080 working hours, that is $22.52 an hour.