By 1812Blockhouse
It’s a list where a high finish is not necessarily a totally good thing.
24/7 Wall St., which bills itself as a financial news and opinion company with content delivered over the Internet, has published another of its list that chronicle the economic and social conditions in American cities. This time, it has set its sights on “Cheapest Cities To Buy a Home.”
Mansfield was included.
Putting aside for a moment that that should read “Cheapest Cities in Which To Buy a Home,” what is evident is that this is a list where a given community might feel good about finishing in a high position — or not.
After noting that house prices are surging across the country, the site used this methodology to determine the most affordable cities with a population of at least 25,000, from the point of view of home ownership.
The top 50 cities were then featured in a recent article on 24/7 Wall St.. According to the site, “Many of the places on this list — including Detroit and East St. Louis — are known as some of the places hit hardest by the decline of manufacturing in America.”
Finishing in that set were both Marion and Mansfield, with Mansfield settling in at number 39. The following findings were used to establish Mansfield’s ranking:
- Median home value: $79,600 Median monthly housing costs with a mortgage: $909 — 24th lowest of 1,774 cities
- Share of housing units with a mortgage: 54.6% — 148th lowest of 1,774 cities (tied)
- Homeownership rate: 53.1% — 50.2% — 404th lowest of 1,774 cities (tied)
- Median household income: $37,683 — 87th lowest of 1,774 cities
Mansfield’s entry is here.
