Living in Mankato, Minnesota
Cost of living, income, home prices, rent and demographics of Mankato · Census data 2020–2024
Mankato has 45,473 residents with a median age of 26.5. The median household income is $66,873 (25% lower than the Minnesota median), the median home value is $261,700, the median rent is $1,132/month.
Mankato at a glance
- Population
- 45,473
- Median age
- 26.5State: 38.8
- Median household income
- $66,873State: $89,062
- Median home value
- $261,700State: $329,300
- Median rent
- $1,132/moState: $1,280
- Homeowners
- 50%
- Bachelor's degree or higher
- 35.1%
- Average commute
- 14 min
Is Mankato a good place to live?
Pros: Home values 21% lower than the state median; an average commute of 14 minutes.
Cons: Median household income 25% lower than the Minnesota median; unemployment of 6%; a poverty rate of 20.6%.
The weather is best in June to September.
Cost of living in Mankato
Housing is the biggest part of the cost of living. In Mankato the median home value is $261,700, 21% lower than the U.S. median. Renters pay a median of $1,132 per month, which is 29.9% of household income. Homeowners with a mortgage pay $1,624 a month in housing costs.
Mankato median household income
The median household income in Mankato is $66,873 and the income per person is $33,811. 20.6% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Mankato: homes for sale and rent
- Housing units
- 19,529
- Owner-occupied
- 50%
- Renter-occupied
- 50%
- Vacant
- 7.4%Includes seasonal homes
- Median year built
- 1982
- Average household size
- 2.29
Mankato demographics
- Population
- 45,473
- Median age
- 26.5
- Under 18
- 17%
- 65 and older
- 12.7%
- Households
- 18,075
- Foreign-born
- 7.4%
- Veterans
- 3.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Mankato ›
Education in Mankato
35.1% of adults 25 and older in Mankato have a bachelor's degree or higher (Minnesota: 39.4%), and 11.9% have a graduate or professional degree.
Jobs and commute in Mankato
- Unemployment rate
- 6%State: 4.1%
- Average commute
- 14 minState: 23 min
- Work from home
- 7.8%
- Drive alone
- 73.3%
- Public transit
- 1.9%
- Walk to work
- 3.3%
- Homes with broadband
- 87.6%
Mankato vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Mankato | 45,473 | $66,873 | $261,700 | $1,132 |
| North Mankato | 14,211 | $80,791 | $262,100 | $973 |
| Skyline | 307 | $71,875 | $291,500 | — |
| Eagle Lake | 3,281 | $96,964 | $276,500 | $1,403 |
| St. Clair | 710 | $106,136 | $218,000 | $750 |
| Kasota | 554 | $66,625 | $190,800 | $692 |
| Madison Lake | 1,322 | $87,727 | $303,100 | $596 |
| St. Peter | 12,185 | $65,122 | $250,700 | $961 |
| Good Thunder | 456 | $81,667 | $178,700 | — |
More for people moving to Mankato
Mankato ZIP code ›Weather and climate ›Living in Mankato: FAQ
What is the median household income in Mankato, MN?
The median household income in Mankato is $66,873, 25% lower than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Mankato?
The median home value in Mankato is $261,700, compared with $329,300 in Minnesota.
How much is rent in Mankato?
The median gross rent in Mankato is $1,132 per month, about 29.9% of household income.
Is Mankato, MN a good place to live?
Pluses: home values 21% lower than the state median; an average commute of 14 minutes. Minuses: median household income 25% lower than the Minnesota median; unemployment of 6%; a poverty rate of 20.6%.
What is the median age in Mankato?
The median age in Mankato is 26.5 years (Minnesota: 38.8).
How long is the commute in Mankato?
The average commute to work in Mankato is 14 minutes; 7.8% of workers work from home.
What is the unemployment rate in Mankato?
The unemployment rate in Mankato is 6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Mankato?
35.1% of adults in Mankato have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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