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Cheap Homes in Mankato, MN 56003

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Mankato, MN Foreclosures

How much do homes sell for in Mankato, MN?
The average home price is currently $336,428.
What’s the average rental cost in Mankato, MN?
The average rental price in Mankato is $1,551.
What is the most expensive home in Mankato?
The most expensive home sold in Mankato had a price of $3,296,804.
What is currently the cheapest priced home in Mankato, MN?
The cheapest home for sale in Mankato is priced at $18,740.

Living in Mankato, MN

Mankato, MN is a lively city with a balance of educational opportunities, outdoor activities, and community events. Its historic downtown and proximity to the Minnesota River make it a picturesque choice for families and individuals looking for a welcoming atmosphere. The city combines urban conveniences with tranquil settings, providing an excellent quality of life.

Current Market Conditions in Mankato, MN

Mankato's real estate market has shown stability over the past few years, with steady demand for both residential and rental properties. Houses in the area are sought after for their affordability compared to larger urban centers in Minnesota, making it an attractive locale for first-time home buyers and investors alike.

The rental market has also seen growth, especially among university students and young professionals, driving increased demand for multi-family units and apartments in the region.

Home Value Estimator For Mankato, MN

There are currently 13,991 real estate properties in Mankato, MN, with a median automated valuation model (AVM) price of $291,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Mankato, MN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Mankato, MN, is $336,428.00, with the most expensive house in Mankato, MN, topping out at $3,296,804.00 and the cheapest home in Mankato, MN, clocking in at $18,740.00. In other words, there’s something for every potential homebuyer or savvy investor in Mankato, MN!

Rent Prices In Mankato, MN

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Mankato, MN, is on a rollercoaster ride. The average rent price in Mankato, MN, is $1,551.00. Indeed, when looking to rent in Mankato, MN, you can expect to pay as little as $570.00 or as much as $3,840.00, with the average rent median estimated to be $1,510.00. The good news is that finding an affordable and desirable property to rent in Mankato, MN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Cheap Homes in Mankato, MN 56003

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