Quick facts: Akron, OH

Quick Facts

96.4
Cost of Living
below US average
188,509
Population
42.5
Crime Rate per 1000
above US average
$46,596
Median Income
below US average
$264,900
Median House Price
above US average
$1936.11
Average Rent
above US average
11%
Poverty Rate
above US average
6.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $46,596.

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Income Needed to Buy

βœ— Stretch
$83k/year
Based on $264,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $83k vs median $46,596
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Income Needed to Rent

⚠ Stretch
$83k/year
Based on $1936.11/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $83k vs median $46,596
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Akron, OH

Akron, located in northeastern Ohio, is known as the "Rubber City" due to its historical significance in the tire and rubber manufacturing industries. Founded in 1825, it has evolved into a vibrant urban center with a rich cultural scene. Akron is home to several institutions, including the University of Akron, which offers a variety of programs and contributes significantly to the local economy. The city boasts a diverse array of parks and recreational opportunities, with the Cuyahoga Valley National Park nearby, perfect for hiking and outdoor activities. Akron’s downtown area features a growing arts community, with galleries, theaters, and the renowned Akron Art Museum showcasing contemporary art. Events like the Akron Arts Expo and Rubber City Festival highlight the city's commitment to arts and culture. Sports enthusiasts can enjoy the Akron RubberDucks, a minor league baseball team. With a mix of historic charm and modern amenities, Akron offers residents and visitors a unique blend of industrial heritage and contemporary living, making it an attractive place to explore.

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