Richland County Foreclosures

Foreclosure Real Estate Market in Richland County, Ohio

Richland County, Ohio, offers valuable opportunities for those interested in foreclosure properties. As of mid-2024, the median home price in Richland County is approximately $224,900, reflecting a slight year-over-year increase. Foreclosure properties often provide chances to purchase homes below market value. Homes typically spend around 32 days on the market, indicating a highly active market. Recent sales, including foreclosures, range from $90,000 to $390,000, showcasing diverse investment opportunities.

Economic Overview

The economy of Richland County is driven by sectors such as manufacturing, healthcare, and education. The unemployment rate in Richland County is about 4.4%, which is close to the national average. The median household income in Richland County is approximately $52,000, reflecting the region's mixed urban and rural character.

Demographic Profile

Richland County has a population of around 121,000 people. The demographic composition is predominantly White (about 87%), with African Americans and other ethnic groups making up the rest. The median age is approximately 42 years, indicating a mature population. This demographic structure influences the demand for various types of housing and services, including family-oriented facilities and healthcare.

Educational Standing

Education in Richland County is served by several public school districts, including Mansfield City Schools and Ontario Local Schools. The county's educational attainment is comparable to the state average, with about 87% of residents having a high school diploma and around 20% holding a bachelor’s degree or higher. Schools in the area, such as Madison Comprehensive High School and Lexington High School, generally receive good ratings, reflecting efforts to maintain strong educational standards.