Market Overview
Home Prices in North Mankato, MN
The median home value in North Mankato, MN is $321,514 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.6% compared to a year ago and up 4.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in North Mankato are priced22% below average. North Mankato is part of the Mankato, MN metro area.
Over the past five years, North Mankato home values have risen by approximately29.5%, reflecting strong long-term appreciation in this market.
Price History
North Mankato Home Price Trend
City Comparison
North Mankato vs. National Median
At $321,514, homes in North Mankato cost 22% below the national median of $410,000. This makes North Mankato a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in North Mankato?
20% Down Payment
$64,303
on $321,514
Monthly P&I
$1,677/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,130/mo
incl. taxes & insurance
Income Needed
$85,200
gross annual (30% rule)
10% Down Option
$32,151
+ PMI applies
Loan Amount (20% dn)
$257,211
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in North Mankato, MN?
The median home value in North Mankato is $321,514 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.6% year-over-year.
How much have home prices changed in North Mankato?
Over the past year, home values in North Mankato have increased by 4.6%. Over five years, prices have risen approximately 29.5%.
How much do I need to earn to buy a home in North Mankato?
To comfortably afford the median home price of $321,514 with a 20% down payment ($64,303) at today's rates (6.8%), you'd need a gross annual income of approximately $85,200. This assumes keeping total housing costs at or below 30% of gross income.
How does North Mankato compare to the national average home price?
The national median home value is approximately $410,000. At $321,514, homes in North Mankato are 22% below the national average.
What metro area is North Mankato part of?
North Mankato is part of the Mankato, MN metropolitan area. Home prices and market conditions can vary across the broader metro region.