ZIP Code · MN

ZIP 56001

Part of Mankato, MN

Pop. 51,585·Blue Earth County·111th most expensive ZIP in Minnesota

Median rent (all units)

$1,259/mo

Year-over-Year

+8.3%

Month-over-Month

+1.4%

vs US Median

-$673

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 56001 · $1,259

More affordable than 88% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,070

1 BR

$1,080

2 BR

$1,290

3 BR

$1,790

4 BR+

$2,110

Research median

$1,290/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 56001 is at its highest level since Zillow's records here began in February 2023.

Past year vs. the rest of Minnesota

Rent in ZIP 56001 changed +8.3% over the year to September 2026. Across the 102 Minnesota ZIP codes Zillow tracks, the typical change was +3.4%.

Recent direction

Rent has risen 2 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($69,531) is $1,738 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,290); a 3-bedroom is $1,790.

From Zillow's monthly rent index (ZORI) for ZIP 56001. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$15,108/yr

At $1,259/mo median

Location

CityMankato

StateMN

CountyBlue Earth County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 8.3% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+8.3% YoY, +1.4% MoM), not inventory.

Demographics

Who lives here

ZIP 56001 (Mankato, MN) is roughly split between renters and owners, skews toward younger working-age adults, 35.5% of residents hold a bachelor's degree or higher.

Population

51,585

Median income

$69,531

Median age

28.5

Renters

45.9%

Age distribution

17.7%

39.7%

20.2%

13.9%

Under 1817.7%

18–3439.7%

35–5420.2%

55–648.5%

65+13.9%

Gender

50.8%

49.2%

Male50.8%

Female49.2%

Race & ethnicity

83.3%

White83.3%

Black6.2%

Hispanic5%

Asian3%

Other2.4%

Education (25+)

23%

35.3%

35.5%

No HS diploma6.2%

HS diploma23%

Some college35.3%

Bachelor's+35.5%

Housing tenure

54.1%

45.9%

Owner54.1%

Renter45.9%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 56001 in Mankato, MN has changed in 5 years

Rent

$989 → $1,259

up 27.3%

Income

$59,759 → $69,531

up 16.4%

Population

50,206 → 51,585

up 2.7%

Renter share

43.5% → 45.9%

+2.4 pts

Bachelor's+

38.8% → 35.5%

-3.3 pts

Five years ago, renters in ZIP 56001 in Mankato, MN paid around $989 a month. That figure now sits near $1,259, up 27.3% from the 2023 baseline. On the earnings side, the typical household in ZIP 56001 in Mankato, MN now reports about $69,531, up from $59,759 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 56001 in Mankato, MN adding about 1,379 residents over the five-year window, up 2.7% on net. The renter share has risen from 43.5% to 45.9%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 38.8% to 35.5% across the same window. For context, the 2023 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 56001 in Mankato, MN reflects that arc in its own way.

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About renting in ZIP 56001

Last updated: October 17, 2026

ZIP code 56001 covers Mankato, MN. The median rent here is $1,259/mo as of October 2026. A 1-bedroom rents for a median of $1,080/mo. A 2-bedroom rents for a median of $1,290/mo.

At 22% of local median household income ($69,531/yr), ZIP 56001 ranks as affordable compared to the national benchmark of 30%. Rents have increased 8.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 56001?

To keep rent at or below 30% of gross income, you would need to earn at least $50,000/year (about $24/hour full-time) to afford the median rent of $1,259/mo in ZIP 56001. The local median household income is $69,531/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 56001?

Rent in ZIP 56001 has risen 8.3% over the past year as of September 2026. That is the highest level since Zillow's records here began in February 2023.

How does ZIP 56001 compare to other ZIPs in Minnesota?

ZIP 56001 is one of the more affordable among Minnesota ZIP codes for rent, ranking #111 of 123 at $1,259/mo. Over the year to September 2026, rent in ZIP 56001 changed +8.3%, against a typical +3.4% across the 102 Minnesota ZIP codes Zillow tracks.