Mankato, MN Cost Of Living
Cost Of Living In Mankato, MN Summary
Cost of living in Mankato research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Mankato is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Minnesota, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Mankato is 95, with 100 being the average.
The cost of living index in Mankato is 0.9x lower than the national average.
Mankato ranks as the #25 cheapest in Minnesota out of 147.
Mankato ranks as the #2,449 cheapest out of 6,412 in the US.
The median home value in Mankato is $196,300.
The median income in Mankato is $56,274.
Table Of Contents
Mankato's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Mankato, MN?
According to the most recent data on the cost of living, Mankato has an overall cost of living index of 95, which is 0.9x lower than the national index of 100.
Compared to Minnesota, Mankato has a cost of living index that's 1.0x lower than Minnesota's index of 95.
The standard of living in Mankato ranks as #25 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Mankato ranks as the #122 most expensive place in the North Star State.
For more reading on life in Mankato, check out:
- Living In Mankato
- Mankato Crime Report
- Search Homes For Sale In Mankato, MN
In Minnesota
In America
Mankato Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Mankato. Here is how it fairs on each of the criteria:
The Services index in Mankato is 93.
The Groceries index in Mankato is 101.
The Health index in Mankato is 121.
The Housing index in Mankato is 87.
The Transportation index in Mankato is 98.
The Utilities index in Mankato is 95.
| Living Expense | Mankato | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 95 | 95 | 100 | |
| Services | 93 | 101 | 100 | |
| Groceries | 101 | 98 | 100 | |
| Health | 121 | 111 | 100 | |
| Housing | 87 | 83 | 100 | |
| Transportation | 98 | 98 | 100 | |
| Utilities | 95 | 95 | 100 | |
Mankato, MN Housing Cost Breakdown
Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Mankato is $196,300.
The Median Rent in Mankato is $968.
The Median Income in Mankato is $56,274.
The Home Value To Income in Mankato is 3.5x.
The Rent To Monthly Income in Mankato is 0.21x.
| Statistic | Mankato | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $196,300 | $250,200 | $244,900 |
| Median Rent | $968 | $1,081 | $1,163 |
| Median Income | $56,274 | $77,706 | $69,021 |
| Home Value To Income | 3.5x | 3.2x | 3.5x |
| Rent To Monthly Income | 0.21x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Mankato, MN Costs By Category
Detailed Mankato Services Costs Vs. Minnesota
Detailed Mankato Groceries Costs Vs. Minnesota
Detailed Mankato Health Costs Vs. Minnesota
Detailed Mankato Transportation Costs Vs. Minnesota
Detailed Mankato Utilities Costs Vs. Minnesota
Mankato SnackAbility
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Cost Of Living In Cities Around Mankato
The cost of living varies in the cities and towns around Mankato. Here's a quick look at the cost of living in the most populous nearby places:
Shakopee, MN has a cost of living index of 108, 1.1x Mankato.
Chaska, MN has a cost of living index of 110, 1.2x Mankato.
Prior Lake, MN has a cost of living index of 115, 1.2x Mankato.
| City | Population | Cost Of Living | Vs. Mankato |
|---|---|---|---|
| Shakopee, MN | 43,396 | 108 | 1.1x |
| Chaska, MN | 27,461 | 110 | 1.2x |
| Prior Lake, MN | 27,242 | 115 | 1.2x |
| Owatonna, MN | 26,366 | 92 | 1.0x |
| Northfield, MN | 20,374 | 105 | 1.1x |
| North Mankato, MN | 14,356 | 96 | 1.0x |
| Waconia, MN | 12,773 | 111 | 1.2x |
| St. Peter, MN | 11,699 | 97 | 1.0x |
| New Prague, MN | 8,060 | 106 | 1.1x |
| Jordan, MN | 6,560 | 108 | 1.1x |
