Mankato, MN (56001) is a great place to live for those looking for an affordable yet active lifestyle. The average 2 bedroom rent in Mankato is $1,110 per month, which is much lower than the US average of $1,430. Additionally, groceries cost less here too with an index of 99 versus 100 nationally. This makes it a great economical option for those on a budget.
Mankato also has a vibrant social scene with lots of local businesses and amenities to explore. Popular stores like Walmart, Target, and Home Depot can be found in the area as well as popular restaurants like Manny’s Steakhouse and Green Mill Restaurant & Bar. The town also boasts numerous parks such as Minneopa State Park and Sibley Park where visitors can go for outdoor activities such as hiking and camping or enjoy art installations such as the James Thurber Mural at Civic Center Plaza.
Mankato (zip 56001) has an unemployment rate of 3.7%. The US average is 6.0%.
Mankato (zip 56001) has seen the job market decrease by -3.4% over the last year. Future job growth over the next ten years is predicted to be 38.7%, which is higher than the US average of 33.5%.
Tax Rates for Mankato (zip 56001)
- The Sales Tax Rate for Mankato (zip 56001) is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Mankato (zip 56001) is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Mankato (zip 56001)
- The average income of a Mankato (zip 56001) resident is $30,690 a year. The US average is $37,638 a year.
- The Median household income of a Mankato (zip 56001) resident is $59,759 a year. The US average is $69,021 a year.