The mechanical properties, damage, and fracture behaviors of Fe-Mn-(Al, Si) steels containing different Mn content and volume fraction of ferrite have been investigated through tensile testing. It is found that the volume fraction of ferrite has significant influences on the mechanical properties and damage accumulation. With increasing the Mn content, both the yield strength and ultimate tensile strength are decreased, while the uniform elongation is continuously increased, showing a typical trade-off relation between strength and elongation. The difference in the work-hardening behavior can be attributed to the increase in the stacking fault energy (SFE) caused by the addition of Mn. The failure mechanisms of the steels are found to be mainly influenced by deformation localization due to microstructural inhomogeneity. On the one hand, the Fe-Mn-(Al, Si) steel with a much more uniform distribution of austenite shows a slower rate of damage growth and a continuous void nucleation during the deformation process, resulting in a higher void density prior to the final fracture. On the other hand, the Fe-Mn-(Al, Si) steel with more ferrite exhibits accelerated void growth and catastrophic coalescence.