Affordable Housing In Mankato
Blue Earth County Minnesota


Waiting List Openings In Mankato

Waiting ListStatus
City of Mankato Economic Development Authority Housing Choice Voucher Open Now

13 Low Income Apartment Communities In Mankato

Sibley Park Apartments

410 Sibley Pkwy
Mankato, MN
$660-1,005
1-3 BR
HCV Welcome

Cherry Ridge Apartments

101 Glenwood Ave
Mankato, MN
$540-900
Studio-3 BR
HCV Welcome

Walnut Towers

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

Riverfront Courts

115 S Riverfront Dr
Mankato, MN
Call For Rent
1-3 BR
HCV Welcome

Dublin Road Townhomes

306 Dublin Ct
Mankato, MN
$795-1,015
2-3 BR
HCV Welcome

Mankato Townhomes

348 Bunting Ln
Mankato, MN
Call For Rent
2-3 BR
HCV Welcome

Rosa Place Apartments

510 Timerwolf Dr
Mankato, MN
Call For Rent
1-3 BR
HCV Welcome

Gus Johnson Plaza

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

Eastport

101 Eastport Dr
Mankato, MN
Subsidized

Colonial Square

300 Ramsey St
Mankato, MN
Subsidized

There are 13 low income housing apartment complexes which contain 989 affordable apartments for rent in Mankato. Many of these rental apartments are income based housing with 569 apartments that set rent based on your income. In Mankato, HUD housing programs support 349 rental assistance apartments through programs like Project-based Section 8. There are 420 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

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
Minnesota Valley Action Council Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Mankato, Minnesota

Mankato, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 13
Total Low Income Apartments 989
Total Rent Assisted Apartments 569
Percentage of Housing Units Occupied By Renters 46.8%
Average Renter Household Size 2.25
Total Population 40,557
Housing Units 15,527
Average Household Size 2.36
Median Household Income $41,425 ±$1,990
Median Rent $726 ±$22
Percentage Of Renters Overburdened 54.25% ± 4.65pp

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.1

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 $78,500

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 Mankato 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 $16,500 $18,850 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $27,500 $31,400 $35,350 $39,250 $42,400 $45,550 $48,700 $51,850
80% of Median $44,000 $50,250 $56,550 $62,800 $67,850 $72,850 $77,900 $82,900
Low Income Housing Tax Credits in Mankato

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1992 to 2007, 5 low income apartment communities containing 247 rental apartments have been constructed and made affordable to low income persons in Mankato by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Mankato

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $33,000 $37,680 $42,420 $47,100 $50,880 $54,660 $58,440 $62,220

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Mankato is $42,420 a year, or $3,535 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,535 by 30% to get a maximum rent of $1,061 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $688 $736 $884 $1,021 $1,139 $1,257
60% $825 $884 $1,061 $1,225 $1,367 $1,508
Fair Market Rents in Mankato

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$634 $715 $924 $1,302 $1,623