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Mansfield

Learn about the people, housing, costs and businesses in Mansfield, Illinois

Median Home$220,300
Median Rent$854/month
Population847
Leading IndustriesEducation · Public Administration · Construction4% education
Home Value Growth⬆⬆⬆+35.8% over 2 years
Retirees23% of residentsslightly above average
Homeowners89% of occupied units
NotableTransit84/100 · excellent transit access
NotableHigh Incomes$100k/year · top 17% nationally
Mansfield
IL

Frequently Asked Questions

What are today's mortgage rates in Mansfield?

As of today, the 30-year fixed mortgage rate for Mansfield is approximately 7.013% (7.022% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Mansfield?

The median home value in Mansfield is $220k. The median monthly rent is $854. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Mansfield?

Home values in Mansfield have increased 35.8% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Mansfield?

Based on a typical all-in ownership cost of $1,200/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $51k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Mansfield is $100k/year.

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What industries drive the economy in Mansfield?

The largest employment sectors in Mansfield are public administration (28%) and healthcare (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.