Mansfield, OH Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mansfield, OH Housing Market Trends

With a population of 46,599, 18,065 total housing units (homes and apartments), and a median house value of $76,336, house prices in Mansfield are some of the most affordable in Ohio as well as the nation.

Single-family detached homes are the single most common housing type in Mansfield, accounting for 62.22% of the city's housing units. Other types of housing that are prevalent in Mansfield include large apartment complexes or high rise apartments ( 17.47%), duplexes, homes converted to apartments or other small apartment buildings ( 13.70%), and a few row houses and other attached homes ( 4.21%).

The most prevalent building size and type in Mansfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 43.19% owning and 56.81% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Mansfield's housing was primarily built during this period, from the '40s through the '60s. A full 43.38% of the city's housing hails from this era. Other housing ages represented in Mansfield include homes built between 1970-1999 ( 25.20%) and housing constructed before 1939 ( 24.54%). There's also some housing in Mansfield built between 2000 and later ( 6.88%).

Vacant housing appears to be an issue in Mansfield. Fully 16.44% of the housing stock is classified as vacant. Left unchecked, vacant Mansfield homes and apartments can be a drag on the real estate market, holding Mansfield real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Mansfield Home Appreciation Rates

Real estate appreciation rates in Mansfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.68% during the period.

Appreciation rates are so strong in Mansfield that despite a nationwide downturn in the housing market, Mansfield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mansfield appreciation rates continue to be some of the highest in America, at 9.17%, which is higher than appreciation rates in 85.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mansfield. Mansfield appreciation rates in the latest quarter were at 2.62%, which equates to an annual appreciation rate of 10.91%.

Importantly, this makes Mansfield one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Ohio, our data show that Mansfield's latest annual appreciation rate is higher than 80% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Mansfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mansfield - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Mansfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$76,336

Mansfield, OH HOME PRICES

> $1,261,000
0.3%
0.3%
$946,001 - $1,261,000
0.2%
0.2%
$630,001 - $946,000
0.3%
0.3%
$505,001 - $630,000
0.3%
0.3%
$378,001 - $505,000
0.7%
0.7%
$252,001 - $378,000
4.4%
4.4%
$126,001 - $252,000
26.6%
26.6%
$63,001 - $126,000
41.3%
41.3%
$0 - $63,000
25.9%
25.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for OH

Value Relative To Nation

Number Of Homes And Apartments:
18,065

Mansfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
21.13% 0.91%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$747 / per month

Homeownership Rate

Owners
43.2%
43.2%
Renters
56.8%
56.8%
Vacant
16.4%
16.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.9%
6.9%
1970 - 1999
25.2%
25.2%
1940 - 1969
43.4%
43.4%
1939 or Older
24.5%
24.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
62.2%
62.2%
Townhomes
4.2%
4.2%
Small Apt. Buildings
13.7%
13.7%
Apt. Complexes
17.5%
17.5%
Mobile Homes
2.4%
2.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.3%
3.3%
1 Bedroom
12.0%
12.0%
2 Bedrooms
33.2%
33.2%
3 Bedrooms
37.8%
37.8%
4 Bedrooms
11.2%
11.2%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES