1st Advantage MortgageMansfield, OH DSCR loans work like they do elsewhere: the lender divides the property's rent by its full monthly payment. The local inputs are a median gross rent of $814, median real estate taxes of $1,488 and a renter share of 50%.
Mansfield rental market at a glance
A DSCR lender in Mansfield is comparing a rent against a payment, and the citywide benchmarks are a median gross rent of $814 and a median home value of $119,600. The rent figure is about 21% below the Ohio median of $1,034. Annual median rent is about 8.2% of the median home value in Mansfield. That is a higher-yield profile than most markets in this region, but it blends every housing type, so a house on a specific street needs its own rent comparables.
| Indicator | Ohio | Mansfield | Difference |
|---|---|---|---|
| Tax as a share of home value | 1.31% | 1.24% | -5% |
| Annual property tax bill, median | $2,822 | $1,488 | -47% |
| Household income, median | $71,389 | $44,540 | -38% |
| Typical owner-occupied value | $214,800 | $119,600 | -44% |
| Persons per household | 2.37 | 2.13 | |
| Share in 2-4 unit buildings | 7.9% | 14.6% | +84% |
| Share of homes detached | 68.8% | 59.3% | -14% |
| Long commuters, 45 min plus | 10.8% | 9.2% | -15% |
| Degree holders, age 25+ | 31.5% | 16.8% | -47% |
| Workers on their own account | 8.1% | 5.0% | -38% |
| Renters paying 30%+ of income | 45.9% | 45.0% | -2% |
| Units sitting vacant | 8.1% | 10.5% | +30% |
| Typical construction year | 1970 | 1959 | |
| Annual rent divided by value | 5.8% | 8.2% | +41% |
| Residents (Census estimate) | 11,810,293 | 47,663 |
Roughly 49.5% of occupied housing in Mansfield is rented, well above the Ohio median of 33%. Against a median household income of $44,540 (well below the Ohio median of $71,389), 45% of renters report rent at or above 30 percent of income.
Housing stock and vacancy in Mansfield
Housing in Mansfield splits among detached homes (59%), townhomes and attached units, and small multifamily (15% in two to four unit buildings). Housing here skews old (median year built 1959), so condition and the age of major systems matter as much as the rent.
Use vacancy as a reality check: 11% of all units are vacant in Mansfield, and the rental vacancy rate is 5.5%.
Investor takeaways for Mansfield
Gross yield of 8.2% puts Mansfield in a comfortable range for DSCR math, so the questions shift from whether the rent covers the payment to how durable that rent is. Properties built around 1959 often need systems work, so price a capital reserve alongside the payment. With about 50% of households renting, Mansfield has enough tenants to support investors without being dominated by them.
What costs can do to a Mansfield ratio
In Mansfield the median tax bill for an owner-occupied home is $1,488, or about 1.24% of value (Ohio overall: 1.31%). That bill is well below the Ohio median of $2,822. In rent terms, the tax bill equals roughly 15% of twelve months of median rent.
For hazards, FEMA's National Risk Index puts Richland County at a relatively low overall rating, and its top-ranked hazards are ice storms (relatively high), winter weather (relatively high) and hail (relatively moderate).
| Hazard in Richland County, FEMA index | Level |
|---|---|
| Strong wind exposure | Relatively Moderate |
| Hail exposure | Relatively Moderate |
| Winter weather exposure | Relatively High |
| Ice storms exposure | Relatively High |
| Social vulnerability score | Relatively Low |
| Annualized loss estimate | Relatively Low |
| Composite risk | Relatively Low |
Insurance belongs in the ratio from day one, so get a landlord quote for the Mansfield address and ask about roof age, wind or hail deductibles and flood cover.
A worked DSCR test for Mansfield
For a rough fit test, treat $814 as the rent and $124 as the monthly tax. The payment cannot exceed $814 at a 1.00 ratio, so $690 is left after taxes for interest, principal, insurance and any association dues, shrinking to $527 if the lender wants 1.25.
Registration, deposits and nightly stays in Mansfield
We have not confirmed a city-specific rental registration or nightly-stay permit program for Mansfield, so check with the city and with Richland County before you buy, and look at any HOA or condominium rules that can be stricter than the city's. Nightly stays carry state tax in Ohio. Ohio's lodging tax covers transient guests who rent for fewer than 30 consecutive days, including Airbnb and VRBO style rentals, and counties may levy an additional lodging tax that operators register for and file under that county's rules.
Ohio limits what a Mansfield owner may hold as a deposit: No statutory cap. The statute is Ohio Rev. Code § 5321.16. Ohio rent regulation summary: No. After move-out, the Mansfield owner has 30 days to return the deposit or account for deductions.
Mansfield next to nearby cities
Among the nearby markets above, Akron has the lowest median home value at $122,000 and Dublin the highest at $563,500, against $119,600 in Mansfield.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Columbus | 56% | $3,341 | $252,900 | 914,802 | $1,295 |
| Akron | 49% | $1,950 | $122,000 | 189,247 | $955 |
| Dublin | 23% | $10,001 | $563,500 | 49,294 | $1,686 |
| Lorain | 43% | $1,708 | $139,200 | 65,395 | $887 |
| Mansfield | 50% | $1,488 | $119,600 | 47,663 | $814 |
Workforce and demand drivers in Mansfield
Self-employment accounts for 5.0% of Mansfield's workforce, so many local investors earn income that a standard payroll-based mortgage underwrites poorly. The same survey shows government workers are about 12% of employment, 17% of adults hold a bachelor's degree or higher and 9% of commuters travel 45 minutes or more.
Employers named in Wikipedia's Mansfield entry include Rank, OhioHealth (formerly MedCentral), Richland County, Newman Technology and Jay Industries, which is where many tenants earn the income that pays rent. The Mansfield area is home to Ohio State University, Mansfield Campus, North Central State College, Ashland University and Dwight Schar College of Nursing & Health Sciences. Students and employees at schools like these are a recurring source of rental demand. On the logistics side, interstate access via I-71 and air service through Mansfield Lahm Regional Airport and John Glenn Columbus International Airport are noted for Mansfield.
Putting a Mansfield file together
Before you offer on a Mansfield property, test the ratio in the calculator, then apply now or request a DSCR quote.
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Where these facts come from
- Mansfield overview (Wikipedia)
- Ohio landlord deposit rules, Ohio Rev. Code § 5321.16
- Lodging tax reference: Ohio Revised Code 5739.09
- Ohio tax source: Ohio Administrative Code 5703-9-64
- ACS 2020 to 2024 estimates for Mansfield
- FEMA National Risk Index
Mansfield's figures are ACS estimates covering 2020 to 2024 and are not exact counts. RedFlagLease (CC BY 4.0) supplies the Ohio landlord-tenant notes, and the statutes are linked. Verified October 2026. Ordinances and statutes change, so confirm before acting.
Quick file checklist
For a Mansfield rental, request the current lease, the last tax bill and the insurance declarations page early, and confirm which utilities the tenant pays, because each one changes the monthly figure a lender compares with the rent.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
Which rent counts when I finance a Mansfield property?
It comes from a lease or from the market rent in the appraisal, whichever the program uses. Against that, the Mansfield median is $814.
Do taxes and insurance count in the Mansfield DSCR ratio?
They do. Rent of $814 divided by 1.25 gives about $651 as the payment ceiling, and $124 of that is spoken for by the median Mansfield tax bill.
What do Mansfield owners pay in real estate taxes?
About $1,488 a year at the median, which is 1.24% of value and well below the Ohio median of $2,822. Reassessment after a purchase can move that number, so get an estimate for the actual price.
Will a lender count nightly rental income at a Mansfield property?
Depending on the lender, yes, if the property may legally be used that way and income is documented. Confirm the local permit, association rules and Ohio lodging taxes before you underwrite nightly income in Mansfield.
What are the security deposit rules for a Ohio landlord?
Limit: No statutory cap. Return: 30 days. Statute: Ohio Rev. Code § 5321.16. Confirm current text before you rely on it.
What hazard risk does Mansfield carry for investors?
FEMA's National Risk Index rates the county's overall natural hazard risk as relatively low. That is a county-level view, so check the FEMA flood map and an insurance quote for the exact Mansfield address.
Can I close a Mansfield DSCR loan in an LLC?
It is optional. Lenders will close in a properly formed LLC and generally want the members to guarantee. Ask your accountant how a OH entity would be taxed.