Cost of Living in Mankato, KS

With a cost of living index of 52, Mankato, KS is one of the most affordable cities in the country. Living here is 48% cheaper than the national average and 20% below the Kansas state average of 72. Mankato is a small community of 801 residents.

Housing costs are the biggest factor in Mankato's cost of living. The median monthly rent is $533 (60% below the US median of $1,319), and the median home value sits at $53,900 (82% below the national median of $304,900). At current prices, the median home costs roughly 1.1x the median household income — well within traditional affordability guidelines.

The median household income in Mankato is $51,250, which is 32% lower than the national median of $75,149. Residents spend roughly 12% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Mankato. The area sees an average annual temperature of 54.1°F, with summers averaging 77°F and winters around 31°F. Annual rainfall totals 28.4 inches spread over roughly 90 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.