Mankato, MN home prices
Typical home $305,707 · +2.5% in a year · income needed $87,700
The Mankato, MN metro area ranks 309 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +2.5% in a year and +24.8% over five years. With 20% down at 7.11%, the typical home costs about $2,047 a month including 0.98% property tax (Blue Earth County rate).
Mortgage on the typical Mankato home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $61,141 | $244,566 | $1,645 | $0 | $401 | $2,047 | $87,700 |
| 10% down | $30,571 | $275,137 | $1,851 | $115 | $401 | $2,367 | $101,400 |
| 5% down | $15,285 | $290,422 | $1,954 | $121 | $401 | $2,476 | $106,100 |
| 3.5% down (FHA) | $10,700 | $300,170 | $2,019 | $135 | $401 | $2,556 | $109,500 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.98% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Mankato area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Blue Earth County, MN | $301,642 | +2.1% | 0.98% |
| Nicollet County, MN | $312,313 | +3.0% | 1.13% |
What can you afford in Minnesota on your salary? · Minnesota home prices · Salaries in Minnesota
Frequently asked questions
How much is a house in Mankato?
The typical home in the Mankato, MN metro area is worth $305,707 (Zillow, September 2026).
What salary do you need to buy a house in Mankato?
About $87,700 a year for the typical home with 20% down at 7.11%.