Logo Mankato-North Mankato Fair Market Rent FY 2023 Mankato-North Mankato, MN MSA Rental Data

Fair Market Rent Prices in Mankato-North Mankato, MN :
$828 $845 $1,056 $1,478 $1,799
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Affordable 40th Percentile Metro Area

Fair Market Rent prices in Mankato-North Mankato are very low compared to the national average. This FMR area is less expensive than 100% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Mankato-North Mankato is $1,056 per month.

The previous year, rent for a two-bedroom home was $992 per month. This is a 6.45% increase year-over-year.

This FMR rate applies to Lewisville, MN, Pemberton, MN, Garden City, MN, Vernon Center, MN, Saint Clair, MN, Minnesota Lake, MN, Hanska, MN, Amboy, MN, Kasota, MN, Good Thunder, MN and other cities within the region. The Metro Code or CBSA code for this region is METRO31860M31860.

Additionally, This Fair Market Rent (FMR) area Mankato-North Mankato, MN MSA spans one county or city in Minnesota which is listed in the table below. Estimated population of Mankato-North Mankato, MN MSA FMR area is 67,368 people based on latest Census data.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Mankato-North Mankato. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Mankato-North Mankato

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 887
1-BR 1-Bedroom $ 905
2-BR 2-Bedroom $ 1131
3-BR 3-Bedroom $ 1583
4-BR 4-Bedroom $ 1926
Change Year:

There is just one county (listed below) within the Mankato-North Mankato, MN MSA FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers two metro areas: Mankato and Minneapolis - St. Paul.

County / Region Est. Population
, MN Metro 67,368
Zip Codes in Mankato-North Mankato, MN MSA

There are 20 unique zip codes in this Fair Market Rent (FMR) area:

56001, 56003, 56010, 56024, 56034, 56037, 56041, 56048, 56050, 56055, 56060, 56062, 56063, 56065, 56068, 56073, 56078, 56080, 56088 and 56090

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