44902, Mansfield, OH

Mansfield, Ohio is located in the southwestern corner of the state and has a population of around 100,000. Home prices in Mansfield have increased significantly over the past several years, with median home prices reaching $130,000 as of September 2017. This has made Mansfield one of the most desirable places to live in Ohio and has contributed to a rise in home equity values.

The majority of homes in Mansfield are owner-occupied, which is likely due to its low cost of living and strong economy. The average commute time to work is only 22 minutes, which is among the shortest in Ohio. Additionally, Mansfield has a high percentage of families with children under 18 living within its boundaries, which may be another contributing factor to its high home values.

Despite these positive factors, there are some potential risks associated with buying or owning a home in Mansfield. One such risk is that interest rates could rise over time and make owning a home more expensive. Another potential risk is that the economy could decline suddenly and lead to a decrease in demand for homes, which would lead to lower home values. However, given Mansfield's strong economy and low unemployment rate (3%), these risks are relatively minor compared to other areas of the country.