Sell Your Commercial Property In Mansfield, OH

Who rents in Mansfield

Renters hold 9,667 of Mansfield’s 19,516 occupied homes, a 49.5% share, under the Census Bureau’s ACS 2020-2024 estimates. Homes in buildings of five or more units make up 16.3% of the city’s 21,807 housing units, and the median year built is 1959, among the oldest housing stock in Richland County. Owners who sell multifamily property in Mansfield are pricing into that older inventory, where 78.3% of units were built before 1980, per the same ACS estimates.

Rents and affordability in Mansfield

Mansfield’s median gross rent is $814 a month in ACS 2020-2024 estimates, 21.3% below Ohio’s $1,034 figure, while median household income of $44,540 trails Richland County’s $59,509. Nearly 43% of renter households pay 30% or more of income on housing, and 20.6% pay half or more, per the same Census table. Investors who sell commercial real estate in Mansfield, OH weigh that rent gap against acquisition price.

Source: HUD FY2027 Fair Market Rents, Mansfield, OH MSA, effective October 1, 2026.

Property taxes in Richland County

Ohio caps taxable value at 35% of true value under Ohio Revised Code 5715.01(B), so a $2,000,000 Mansfield apartment building is taxed on $700,000. At the Mans/Mans/Mans CSD full rate of 87.20 mills for tax year 2025, per the Richland County Auditor, that building’s full-rate bill runs about $61,040 a year. Richland County’s conveyance fee totals $4.00 per $1,000, the $1.00 mandatory fee under ORC 319.54(G)(3) plus the county’s $3.00 permissive fee under ORC 322.02, so a $2,000,000 sale owes $8,000 at transfer. Owners who sell commercial property in Mansfield, OH should net that fee against price.

Landlord rules in Mansfield

Ohio Revised Code 5321.19 bars Mansfield and Richland County from imposing rent control or rent stabilization on private rental housing. ORC 5321.16 requires an itemized deposit accounting within 30 days after lease termination and delivery of possession, and ORC 5321.17 sets 30 days’ notice to end a month-to-month tenancy. ORC 1923.04 requires three or more days’ notice before a landlord can file an eviction action for nonpayment. A landlord selling commercial property in Mansfield should clear these steps before closing.

What it means for an owner in Mansfield

Mansfield pairs a 49.5% renter share and 16.3% share of 5+ unit homes with a below-state rent level, giving owners who sell commercial property in Mansfield, OH a defensible basis for pricing. Gorman-Rupp Company, a pump manufacturer headquartered in Mansfield, employs about 1,415 people worldwide, and OhioHealth Mansfield Hospital operates 326 beds. The Historic Ohio State Reformatory, a stop on the Shawshank Trail, also draws visitors downtown, per the City of Mansfield. Skyline Capital Investments buys 5+ unit buildings, and an owner ready to sell your apartment building in Mansfield can model taxes with our cap rate calculator and review our seller page.