Mankato, MN Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is Mankato, MN a good place to live? ›

Mankato is in Blue Earth County and is one of the best places to live in Minnesota. Living in Mankato offers residents an urban suburban mix feel and most residents rent their homes. In Mankato there are a lot of coffee shops and parks. Many young professionals live in Mankato and residents tend to lean conservative.

Home values in Minnesota rose by 66.3% in the last 5 years. Home sales increased by 0.9% in January 2024 YoY despite the mortgage rate climbing to 7.28%! So, Minnesota's housing market is strong, if not bullish. Even if mortgage rates continue to increase alarmingly, home sales will not falter.

The cost of living in Mankato, MN is 3% lower than the state average and 8% lower than the national average. Mankato, MN housing is 22% cheaper than the U.S average, while utilities are about 8% less pricey.

In the summer months, the hottest month of the year in Mankato is July, with an average high of 82°F and average low of 62°F. In the winter months, the lowest temperatures are reached in the month of January with average high of 23°F and average low of 5°F.

The City of Mankato is renowned for great parks and trails. Rivers, lakes, ravines, bluffs, natural prairies and forested areas offer breathtaking landscapes and provide a scenic backdrop for an area steeped in historic significance.

Mankato Demographics

White: 84.37% Black or African American: 7% Asian: 3.67%

Poverty & Diversity

22.5% of the population for whom poverty status is determined in Mankato, MN (9.28k out of 41.3k people) live below the poverty line, a number that is higher than the national average of 12.5%.