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Affordable Housing In Mankato
Blue Earth County, Minnesota

13 Low Income Apartment Communities In Mankato

Sibley Park Apartments

410 Sibley Pkwy
Mankato, Minnesota
$660-1,005
1-3 BR

Cherry Ridge Apartments

101 Glenwood Ave
Mankato, Minnesota
$540-900
Studio-3 BR

Rosa Place Apartments

510 Timberwolf Drive
Mankato, Minnesota
$668-1,111
1-3 BR

Walnut Towers

105 E Walnut St
Mankato, Minnesota
Income Based
1 BR
Subsidized

Riverfront Courts

115 S Riverfront Dr
Mankato, Minnesota
Call For Rent
1-3 BR

Dublin Road Townhomes

306 Dublin Ct
Mankato, Minnesota
$795-1,015
2-3 BR

Mankato Townhomes

348 Bunting Ln
Mankato, Minnesota
Call For Rent
2-3 BR

Gus Johnson Plaza

413 N 4th St
Mankato, Minnesota
Call For Rent
1-2 BR
Subsidized

Eastport

101 Eastport Dr
Mankato, Minnesota
Subsidized

Colonial Square

300 Ramsey St
Mankato, Minnesota
Subsidized

Housing Authorities that serve Mankato

Housing Authority Programs
City of Mankato Economic Development Authority Section 8 Housing Choice Voucher (HCV); Public Housing; Homeownership Voucher; Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH); Mainstream Voucher
Blue Earth County Economic Development Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Mankato, Minnesota

There are 13 low income housing apartment communities offering 989 affordable apartments for rent in Mankato, Minnesota.

Income Based Apartments in Mankato, Minnesota

Mankato features 569 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Mankato, Minnesota

There are 420 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mankato.

Housing Choice Vouchers in Mankato, Minnesota

On average, Section 8 Housing Choice vouchers pay Mankato landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Mankato.

The maximum amount a voucher would pay on behalf of a low-income tenant in Mankato, Minnesota for a two-bedroom apartment is between $865 and $1,057.

2021 Mankato, Minnesota Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $646 $732 $961 $1,345 $1,664
Payment Standard Range $581 to $711 $659 to $805 $865 to $1,057 $1,211 to $1,480 $1,498 to $1,830

Sourced from federal housing data and AffordableHousingOnline.com research.

Mankato, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 13
Total Low Income Apartments 989
Total Housing Units with Rental Assistance 569
Percentage of Housing Units Occupied By Renters 46.8%
Average Renter Household Size 2.25
Average Household Size 2.36
Median Household Income $41,425 ±$1,990
Median Rent $726 ±$22
Percentage Of Renters Overburdened 54.25% ± 4.65pp
Total Population 40,557

Population and Household Demographics

Mankato is a city in Blue Earth County, Minnesota with a population of 40,557. There are 15,527 households in the city with an average household size of 2.36 persons. 46.8% of households in Mankato are renters.

Income and Rent Overburden in Mankato

The median gross income for households in Mankato is $41,425 a year, or $3,452 a month. The median rent for the city is $726 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Mankato, a household making less than $2,420 a month would be considered overburdened when renting an apartment at or above the median rent. 54.25% of households who rent are overburdened in Mankato.

Area Median Income In Mankato

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Mankato, the AMI is calculated from all households within Blue Earth County.

In Mankato, HUD calculates the Area Median Income for a family of four as $86,200

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Mankato

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Mankato

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,800 $20,350 $22,900 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $29,650 $33,900 $38,150 $42,350 $45,750 $49,150 $52,550 $55,950
80% of Median $47,450 $54,200 $61,000 $67,750 $73,200 $78,600 $84,050 $89,450