Mansfield, Ohio Housing Market

What stands out in Mansfield?

• Asking price per square foot is down 12.6% on the year: among the fastest-falling asking prices per square foot of 765 tracked cities. Falling asking prices give you room to offer below list.
• Asking prices swing about 22.6% between the cheapest and priciest months: among the biggest seasonal price swings of 765 tracked cities. Timing your purchase within the year matters here.
• The median household earns $56,782 a year: among the lowest incomes of 765 tracked cities. Rents are capped by what local households earn.

How far have Mansfield prices fallen?

Asking price per square foot in Mansfield is 13.5% below its Jul 2026 high and down 12.6% over the last year. Prices were above the year before in 85% of months since the data starts, so this market has climbed back from drops before. 19% of sellers have cut their price. Underwrite with no price growth for now and let the seller carry the next cut.

Is now a good time to buy in Mansfield?

The median asking price is 4.3% below its Jul 2025 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower. Mansfield prices have risen in 94 of the last 111 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

What is the fair market rent in Mansfield?

HUD sets one fair market rent for Richland County. For fiscal year 2026:

• 1 bedroom: $773 a month. Up 5% on last year, up 57% since FY2016.
• 2 bedrooms: $973 a month. Up 5% on last year, up 48% since FY2016.
• 3 bedrooms: $1,315 a month. Up 4% on last year, up 45% since FY2016.
• 4 bedrooms: $1,530 a month. Up 5% on last year, up 61% since FY2016.

The figures include tenant-paid utilities and apply to all of Richland County, so one home's rent can sit well above or below them. See fair market rent by city.

When do Mansfield prices dip?

Across 9 full years, Mansfield asking prices ran lowest in January, about 11.3% below the year's average. They peaked in July. The most homes for sale show up in November, about 24% above the yearly average. Shop in November for choice, and expect the softest asking prices in January.

How much can you negotiate in Mansfield?

Pending-sale counts for Mansfield were thinly reported until recently, so this page reads demand from how long listings sit, how many sellers cut, and how much is for sale. About 1 in 5 sellers has already dropped their price. Each one has learned their first price was too high. Start your offer below their new price.

The typical Mansfield listing has been on the market 44 days. There are 191 homes for sale in Mansfield. That is 4.0 times the tightest month on record, but below the peak of 360. Supply is growing against last year.

What to do about it

• Judge each listing on its own.
• Homes listed 60+ days ago with a price cut are where your discount is.
• Fresh, well-priced homes will not move on price. Do not waste offers on them.

What numbers should you underwrite a Mansfield deal with?

• Price growth to assume — +7.0%/yr. Mansfield has grown about 7.0% a year for five years and for ten. That pace held before and after the 2020–2021 boom, so it is a fair long-run input. Prices fell 12.6% over the last year. Use it for timing. The five-year rate is the better guide.
• Competition when you exit — +15%. Homes for sale in Mansfield are up 15% on last year, so your resale faces more competition than today's comps did.

Read how price cuts signal a market turning and how we read these numbers, then run the numbers on a deal.

What is the median home price in Mansfield?

The median asking price in Mansfield is about $247,000 as of Sep 2026, up 7.8% from a year ago. The typical listing is 9% larger than a year ago, and asking price per square foot is down 12.6%. So the size of homes on the market explains much of the rise. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Mansfield figures cover the 7 ZIP codes with a Mansfield mailing address, which can reach past city limits.

Is Mansfield a buyer's or seller's market in 2026?

Neither side has the upper hand in Mansfield right now. We compare Mansfield with 2017–2019 at this time of year: there are 16% fewer homes for sale; 19% of sellers have cut their price, against 20% then; the typical listing has been up 1% fewer days.

Are Mansfield home prices going up or down?

The median asking price is 4.3% below its Jul 2025 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower.

What rent can Mansfield tenants afford?

At 30% of income, a tenant on the median income can pay about $1,420 a month. The median Mansfield household earns $56,782 a year.

What price growth should I assume for Mansfield?

Assume +7.0% a year. Mansfield has grown about 7.0% a year for five years and for ten. That pace held before and after the 2020–2021 boom, so it is a fair long-run input. Prices fell 12.6% over the last year. Use it for timing. The five-year rate is the better guide.

What is the fair market rent in Mansfield?

HUD's fiscal year 2026 fair market rent for Richland County is $973 a month for 2 bedrooms and $1,315 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.