Cost of Living in Mankato, MN
Population 44,882 · Minnesota · Data vintage 2023
(100 = US avg)
Mankato lands reasonably close to national benchmarks on most cost indicators, with a median home value of $251,000 — 18% below the US figure. That makes it a useful reference point for comparing with more extreme markets in Minnesota. A poverty rate near 22% adds context to the income figures — well above the US average, and worth factoring into any comparison with cities on the coasts or in the Rockies.
Mankato is about 65 miles southwest of Minneapolis, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 27% lower than Minneapolis' $346,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Mankato
The median home value in Mankato is $250,600 — 18% below the national median of $305,000. Median rent runs $1,089/month, 17% lower than the national median of $1,314/month. The median household income of $64,826/year is 13% lower than the US median of $74,580. The local unemployment rate is 4.8%, above the national average of 4.8%. Minnesota's top state income tax rate is 9.8% and the combined sales tax is 7.4%. Overall, Mankato has a cost of living index of 82 versus the US average of 100, meaning it is 18% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Mankato, MN?
Mankato has a cost index of 82 (100 = national average). It is 18% below the national average.
What is average rent in Mankato, MN?
The median gross rent in Mankato is $1,089 per month based on 2023 Census data.
What is the average home price in Mankato?
The median home value in Mankato is $250,600 according to Zillow and Census data.
What is the median income in Mankato?
The median household income in Mankato is $64,826 per year (2023 ACS 5-year estimates).
What is the sales tax in Mankato, MN?
The combined state and local sales tax rate in Mankato is 7.4%. The Minnesota state income tax top rate is 9.8%.
Is Mankato, MN affordable?
Yes, Mankato is generally considered affordable, with a cost of living index of 82 — about 18% below the US national average of 100.
Mankato at a Glance
- Population
- 44,882
- Median Income
- $64,826
- Home Value
- $250,600
- Median Rent
- $1,089/mo
- Unemployment
- 4.8%
- Sales Tax
- 7.4%
Nearby Cities
Explore county-level cost of living data
Minnesota Rankings
Similar Cost Cities
Cities in other states with comparable housing costs