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North Mankato

Learn about the people, housing, costs and businesses in North Mankato, Minnesota

Median Home$266,655
Median Rent$1,001/month
Population14,058
Leading IndustriesRetail · Public Administration · Transportation20% retail
Home Value Growth+9.4% over 2 years
Young Adults29% of residentsslightly above average
Homeowners69% of occupied units
NotableHighly Educated30% hold a bachelor's degree · top 9% nationally
North Mankato
MN

Frequently Asked Questions

What are today's mortgage rates in North Mankato?

As of today, the 30-year fixed mortgage rate for North Mankato is approximately 6.975% (7.014% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in North Mankato?

The median home value in North Mankato is $267k. The median monthly rent is $1,001. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in North Mankato?

Home values in North Mankato have increased 9.4% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in North Mankato?

Based on a typical all-in ownership cost of $1,140/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $49k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in North Mankato is $79k/year.

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What industries drive the economy in North Mankato?

The largest employment sectors in North Mankato are public administration (27%) and retail (20%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.