Lima was once a rail transportation hub and a center for steam locomotive manufacturing. That heavy industry tradition continues with the Lima Army Tank Plant. That product is being phased out, however, as the army doesn't need any new tanks, but amphibious fighting vehicles will still be made on the site.

Mayor David Berger said the area economy is both stable and growing. "Most of our industries are doing quite well," he said.

Home prices, however, have never moved much, neither during the boom or the bust.

"Ohio has been a slow growth state and that affects the demand for housing," said Berger.

Nicely kept, three-bedroom homes in good neighborhoods can be had for about $80,000.