Akron, OH
⚖️ Balanced Market📊 Fundamental Scores
🎯 The Bottom Line
The Akron housing market offers exceptional affordability with a 11.9x price-to-rent ratio, well below the national average. With a low risk grade and balanced supply, it's a prime BUY opportunity for cash-flow focused investors.
📈 Price History
📊 Market Activity
📈 Market Analysis
Market Cycle
The current Akron housing market is exhibiting signs of a balanced to slightly seller-favorable cycle. With an Ocity Market Temperature score of 67, activity is robust but not overheated. The YoY price change of 1.5% indicates stable, sustainable appreciation rather than a speculative bubble. This stability makes the Akron real estate landscape attractive for long-term holders seeking consistent value growth without extreme volatility.
Supply & Demand
Supply dynamics currently favor sellers, though not overwhelmingly. The Months of Supply stands at 2.7, placing the market firmly in seller territory (defined as under 3 months). However, the market is not frozen; 31.0% of homes sell within two weeks, signaling strong buyer engagement. The inventory flow is healthy, with 178 new listings monthly against 155 homes sold, creating a tight but navigable market for buyers.
Pricing Power
Sellers in Akron retain moderate pricing power, evidenced by a Sale-to-List Ratio of 96.2%. While this indicates some negotiation room for buyers, it shows sellers are largely achieving their asking prices. The median days on market is just 26, reinforcing the velocity of transactions. For investors analyzing Akron home prices, the current median of $131,831 represents a low barrier to entry with high potential for yield.
Akron, OH Housing Market Forecast 2026–2028
🔮 Akron Price Forecast 2026–2028
Akron, OH Housing Market Forecast 2026–2028
Looking at the Akron housing market forecast through 2026-2028, I see a stable, affordability-driven landscape that should continue to attract both first-time buyers and investors. The current median home price sits at $131,831, which is remarkably accessible compared to national averages. This affordability is a key anchor, supported by a price-to-rent ratio of just 11.9x, well below the 18x national average. This indicates that buying remains a financially sound decision versus renting, a trend likely to persist as the local economy stabilizes. The market’s temperature, rated at 67/100, suggests a balanced environment, not overheated but still competitive. With a 5-year price change of 40.6% and a CAGR of 6.9%, the market has shown consistent, healthy appreciation without the volatile spikes seen in other cities.
When asking will Akron home prices drop, the data suggests a low probability of a significant downturn. The risk grade of A and the brisk Days on Market of 26 point to sustained buyer demand. However, growth will likely moderate from the recent 5-year surge. The YoY price change of 1.5% signals a shift toward stabilization rather than rapid acceleration. Key local factors include Akron’s ongoing economic diversification beyond its manufacturing roots, with growth in healthcare and education sectors at institutions like the University of Akron and Cleveland Clinic Akron General. Affordability remains the city’s strongest selling point, drawing buyers priced out of larger metros. While the buy/rent verdict is a clear BUY, buyers should expect more measured appreciation through 2027.
For those evaluating Akron real estate Akron 2027, the outlook is cautiously optimistic. The market is unlikely to see the explosive growth of the past five years, but a correction appears improbable given the strong fundamentals. The low price range, from $93,783 to $131,832 over the last five years, highlights a market that remains accessible. The continued demand for affordable housing, coupled with a stable local economy, should support gradual price increases. While external factors like interest rates and broader economic conditions will play a role, Akron’s intrinsic affordability and low-risk profile provide a buffer. Ultimately, expect a steady, sustainable market where prices hold firm with modest gains, making it a sound long-term play rather than a short-term speculative bet.
Disclaimer: This forecast is a statistical projection based on historical price trends and should not be considered financial advice. Actual market outcomes may vary due to economic conditions, interest rates, local regulations, and other factors.
🏠 Rent vs Buy Analysis
Monthly Cost Breakdown
The financial divergence between renting and buying in Akron is stark. The median rent sits at $816/month, while the implied mortgage payment on a median-priced home (assuming 20% down and current rates) is significantly higher. However, the buy vs rent Akron debate hinges on the Price-to-Rent ratio of 11.9x. This metric is well below the national average of 18x, mathematically favoring purchasing over leasing. For investors, this ratio signals that rental demand will remain high as buying becomes comparatively expensive.
5-Year Comparison
Over a 5-year horizon, buying becomes increasingly advantageous due to equity accumulation and appreciation. While renting costs $48,960 over five years (paid with zero return), purchasing locks in housing costs. Even with a conservative appreciation rate of 1.5% annually, the homeowner builds net worth while the renter builds none. The low 26 median days on market ensures that liquidation is relatively quick if life circumstances change.
When Renting Wins
- Short-term stays: If you plan to relocate within 1-2 years, closing costs and fees negate buying benefits.
- Flexibility: Renters avoid property taxes and maintenance costs, which can fluctuate annually.
- Capital preservation: Keeping capital liquid rather than tied up in a down payment is preferable for some.
When Buying Wins
- Long-term wealth: The 11.9x ratio makes buying a financially superior long-term decision.
- Rate lock-in: Purchasing now secures housing costs against future inflation and rent hikes.
- Investment potential: Akron real estate offers entry at a price point that maximizes leverage.
🧮 Can You Afford Akron? Interactive Calculator
Income Reality Check
Can you actually afford Akron?
Great! At 13.6%, this mortgage falls within healthy financial limits. You have strong purchasing power in Akron.
💰 Investment Thesis
Cash Flow Analysis
The numbers for invest in Akron are compelling for cash-flow investors. With a median home price of $131,831 and median rent of $816/month, the gross rental yield is approximately 7.4%. After accounting for taxes, insurance, and maintenance (roughly 35% of gross rent), the net operating income supports a healthy capitalization rate. The Akron housing market allows investors to acquire assets that cash flow immediately, a rarity in many major metropolitan areas.
House Hacking
House hacking is a viable strategy here due to the low entry price. An investor can purchase a multi-family property or a single-family home with an accessory dwelling unit (ADU). The median price of $131,831 makes financing accessible, potentially allowing a buyer to live for free or at a reduced cost by renting out spare rooms or units. This strategy leverages the low 11.9x price-to-rent ratio to minimize living expenses while building equity.
Target Investor
The ideal investor for Akron real estate is the cash-flow seeker or the entry-level buyer. With an Ocity Investor Yield score of 50 and a Risk Grade of A, this market suits those prioritizing stability and monthly income over rapid appreciation. The 96.2% sale-to-list ratio suggests a liquid market, allowing investors to exit efficiently when needed. It is less suited for speculative flippers given the modest 1.5% YoY appreciation, but perfect for buy-and-hold portfolios.
🏘️ House Hacking Calculator Interactive Calculator
House Hacking CalculatorOwner-Occupied Multi-Fam
🗺️ Neighborhood Breakdown
Entry-Level
For investors looking to invest in Akron on a budget, neighborhoods like North Hill and Firestone Park offer significant value. These areas feature older housing stock with median prices often dipping below the citywide average of $131,831. They are ideal for value-add investors willing to renovate. Rental demand is steady here due to affordability, ensuring low vacancy rates for Akron real estate portfolios.
Mid-Range
The West Hill and Goodyear Heights neighborhoods represent the mid-range segment. These areas offer a balance of affordability and quality of life, attracting families and professionals. Prices here align closely with the city median but often feature larger lot sizes and more updated structures. The 26 median days on market is consistent in these neighborhoods, indicating strong buyer interest and stable appreciation trajectories.
Premium
Highland Square and the West Akron corridor constitute the premium tier of the Akron housing market. While prices exceed the city median, they remain accessible compared to national standards. These neighborhoods command higher rents and attract long-term tenants seeking amenities and walkability. For those analyzing Akron home prices for luxury investment, these areas offer prestige and lower volatility, supported by a Risk Grade of A.