Mankato, MN
Population 44,882 · Minnesota
About Mankato, MN
Mankato is a mid-sized city located in Minnesota with a population of 44,882 residents according to the latest US Census Bureau American Community Survey data. The median household income is $64,826 per year, which is 14% below the national median of $75,149. The median age of 26.8 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Mankato features a median home value of $250,600, which is 2% above the national median of $244,900. This positions Mankato in a moderately priced market relative to the rest of the country. Median monthly rent is $1,089, 6% below the national average of $1,163/month. Of the 19,186 total housing units, 50% are owner-occupied (8,880 units) and 50% are renter-occupied (8,775 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Mankato shows an unemployment rate of 4.8%, which is near the national rate of 3.7%. The poverty rate stands at 21.7%, above the national average of 12.4%. Workers in Mankato have an average one-way commute time of 14.5 minutes, one of the shorter commutes in the region.
Education & Demographics
36.2% of Mankato residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 3.9% White, 0.7% Hispanic or Latino, 0.1% Black or African American, and 1.3% Asian residents, with 8.3% of the population being foreign-born.
How Mankato Ranks in Minnesota
Cost of Living in Mankato, MN
Compared to national averages, Mankato has a median household income of $64,826 (14% below the national median of $75,149). Home values average $250,600, which is 2% above the national median. Monthly rent at $1,089 is 6% below the US average of $1,163. Within Minnesota, Mankato's income is 13% below the state average of $74,221, and home values are 23% above the state median of $204,472.
Why Live in Mankato, MN?
Mankato offers rent that’s lower than the national average at $1,089/month, and a well-educated community where 36.2% of residents hold a bachelor’s degree or higher, and short commute times averaging just 14.5 minutes.
Potential considerations include median household income ($64,826) that falls below the national average. However, Mankato’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Mankato has a population of 44,882 with a median age of 26.8 years. Compare Mankato with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Mankato
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Shakopee | 45,002 | $110,989 | $361,400 | Compare |
| Moorhead | 44,706 | $69,371 | $246,300 | Compare |
| Maplewood | 40,981 | $88,534 | $291,300 | Compare |
| St. Louis Park | 49,541 | $100,250 | $371,600 | Compare |
| Cottage Grove | 40,124 | $121,452 | $359,600 | Compare |
| Richfield | 36,725 | $84,055 | $320,400 | Compare |
| Edina | 53,125 | $129,225 | $624,000 | Compare |
| Minnetonka | 53,256 | $120,496 | $456,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Mankato With Other Cities
Frequently Asked Questions about Mankato
What is the population of Mankato, MN?
The population of Mankato, MN is 44,882 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Minnesota.
What is the median household income in Mankato?
The median household income in Mankato, MN is $64,826 per year, which is 14% below the national median of $75,149.
What is the median home value in Mankato?
The median home value in Mankato, MN is $250,600, which is 2% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Mankato?
The median monthly rent in Mankato, MN is $1,089, which is 6% below the national average of $1,163/month.
What is the unemployment rate in Mankato?
The unemployment rate in Mankato, MN is 4.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Mankato, MN a good place to live?
Mankato offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 44,882 and a median age of 26.8, the city appeals to young professionals and families.
How educated is Mankato, MN?
36.2% of residents in Mankato aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Mankato?
Key cost-of-living indicators for Mankato, MN: median home value is $250,600 (2% above national), median rent is $1,089/month, and median household income is $64,826. The home-value-to-income ratio is 3.9x, a moderate figure by national standards.
What is the poverty rate in Mankato?
The poverty rate in Mankato, MN is 21.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Mankato, MN?
Mankato's population is 3.9% White, 0.7% Hispanic or Latino, 0.1% Black or African American, 1.3% Asian, and 6.7% two or more races. 8.3% of residents are foreign-born.