1st Advantage MortgageInvestors buying in Akron, OH are measured on the rent the property earns. Locally, median gross rent is $955 and median real estate taxes are $1,950 a year, which together set how much loan a rent can carry.
Market snapshot for Akron
Citywide, Akron renters pay a median $955 in gross rent (rent plus utilities), close to the Ohio median of $1,034, and owner-occupied homes have a median value of $122,000, well below the Ohio median of $214,800. The gross rent-to-value ratio for Akron works out to 9.4% (twelve months of median rent divided by median value), on the high side, which usually points to lower purchase prices relative to rent. The figure combines all rental types with all owner-occupied homes, so it is a screening number and not an appraisal.
| Indicator | Ohio | Akron | Difference |
|---|---|---|---|
| Persons per household | 2.37 | 2.18 | |
| Share in 2-4 unit buildings | 7.9% | 10.4% | +32% |
| Share of homes detached | 68.8% | 67.5% | -2% |
| Long commuters, 45 min plus | 10.8% | 10.5% | -3% |
| Degree holders, age 25+ | 31.5% | 23.6% | -25% |
| Workers on their own account | 8.1% | 8.1% | +0% |
| Renters paying 30%+ of income | 45.9% | 53.8% | +17% |
| Units sitting vacant | 8.1% | 9.6% | +18% |
| Typical construction year | 1970 | 1954 | |
| Households that rent | 32.8% | 49.3% | +50% |
| Tax as a share of home value | 1.31% | 1.60% | +22% |
| Annual property tax bill, median | $2,822 | $1,950 | -31% |
| Household income, median | $71,389 | $48,076 | -33% |
| Typical owner-occupied value | $214,800 | $122,000 | -43% |
| Residents (Census estimate) | 11,810,293 | 189,247 |
The renter share is 49.3% in Akron, well above the Ohio median of 33%, a sizable rental market. Against a median household income of $48,076 (well below the Ohio median of $71,389), 54% of renters report rent at or above 30 percent of income.
The kind of housing in Akron
Single-family detached housing accounts for 67% of the units counted in Akron, so expect house-style comparables in most appraisals. Housing here skews old (median year built 1954), so condition and the age of major systems matter as much as the rent.
Vacancy is a quiet driver of rent. 10% of homes are vacant citywide and 2.3% of the rental inventory was listed for rent when the Census surveyed.
What the data means for Akron buyers
With a gross rent-to-value ratio of 9.4%, Akron is the kind of market where a modest purchase price can still clear a 1.0 ratio, so the work is mostly in confirming the rent and the insurance. An older stock (built 1954 at the median) means the inspection report can change your numbers more than the rent does. A 49% renter share is large enough to keep units leased, so location relative to jobs and schools drives rent more than the market as a whole.
Taxes and risk in Akron
Real estate taxes are a line the rent has to cover. The median owner in Akron pays $1,950 a year (well below the Ohio median of $2,822), which is about 1.60% of the median home value. In rent terms, the tax bill equals roughly 17% of twelve months of median rent.
FEMA's National Risk Index (version 1.20, December 2025) rates Summit County as relatively moderate overall for natural hazard risk, with hail (relatively high), strong wind (relatively high) and winter weather (relatively high) among its leading hazards.
| Hazard in Summit County, FEMA index | Level |
|---|---|
| Lightning exposure | Relatively High |
| Winter weather exposure | Relatively High |
| Strong wind exposure | Relatively High |
| Hail exposure | Relatively High |
| Social vulnerability score | Relatively Low |
| Annualized loss estimate | Relatively Moderate |
| Composite risk | Relatively Moderate |
Many investors meet insurance too late, so get a quote tied to the Akron property's roof age and flood zone before you waive your inspection period.
A worked DSCR test for Akron
Take the median rent ($955), subtract median taxes spread over twelve months ($162), and you have $792 of room at a 1.00 ratio. A lender asking for 1.25 cuts that to $602. Real quotes for the address decide the rest.
Registration, deposits and nightly stays in Akron
Local rental rules in Akron are not summarized here because we could not verify them from a city source. Ask the city and Summit County about registration, inspection and short-term rental requirements, and confirm what an HOA allows. On lodging taxes, a Akron host should read this first. Ohio's lodging tax covers transient guests who rent for fewer than 30 consecutive days, including Airbnb and VRBO style rentals, and counties may levy an additional lodging tax that operators register for and file under that county's rules.
On deposits, Ohio law (Ohio Rev. Code § 5321.16) says: No statutory cap. That figure belongs in your Akron pro forma as cash you hold, never as rent. On entering a unit, Ohio says: 24 hours' notice and reasonable times, except emergencies. Ohio gives a landlord 30 days after the tenancy ends to return a deposit, an easy deadline to miss without a checklist.
Where Akron sits among nearby places
Among the nearby markets above, Canton has the lowest median home value at $97,800 and Kent the highest at $219,900, against $122,000 in Akron.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Cleveland | 58% | $1,759 | $102,000 | 366,097 | $945 |
| Parma | 28% | $3,341 | $170,100 | 79,870 | $1,087 |
| Canton | 51% | $1,227 | $97,800 | 69,755 | $850 |
| Kent | 59% | $3,463 | $219,900 | 27,116 | $991 |
| Akron | 49% | $1,950 | $122,000 | 189,247 | $955 |
The renter base in Akron
Self-employed workers, incorporated or not, make up 8.1% of employed residents, a group that often has irregular tax-return income and a natural fit with rent-based qualification. On the workforce side, government workers are about 11% of employment, 24% of adults hold a bachelor's degree or higher and 11% of commuters travel 45 minutes or more.
For a sense of who employs Akron renters, the published employer list for 2020 shows Summa Health System, University of Akron, Akron Children's Hospital, FirstEnergy and Cleveland Clinic- Akron General. Check the current year before you lean on it, since payrolls move. Education is part of the Akron rental picture, with University of Akron and University System of Ohio among the institutions listed. Wikipedia's entry for Akron notes interstate access via I-76, I-77 and I-277 and air service through Akron-Canton Airport and Akron Fulton International Airport, a practical point for tenants and owners alike.
From a Akron listing to a loan
Before you offer on a Akron property, test the ratio in the calculator, then apply now or request a DSCR quote.
More Ohio markets
- All Ohio DSCR loans
- DSCR loans in Kent, OH
- DSCR loans in Canton, OH
- DSCR loans in Parma, OH
- DSCR loans in Cleveland, OH
- Every market we cover
Where these facts come from
- For nightly stays in Akron: Ohio Administrative Code 5703-9-64
- Census Bureau ACS 5-year 2020 to 2024 tables
- National Risk Index entry, Summit County
- Background reading: Akron, Ohio
- Akron landlords: see Ohio Rev. Code § 5321.16
- Ohio Revised Code 5739.09 (Ohio)
Numbers for Akron come from the Census Bureau's 2020 to 2024 ACS and are survey estimates. Deposit and notice summaries come from RedFlagLease (CC BY 4.0) and the linked Ohio sections. Checked October 2026; confirm with Akron or the county before you rely on any rule.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
How is Akron rent documented for a DSCR loan?
Expect to supply a lease, or let the appraiser's rent schedule stand in for one; the Akron median rent of $955 is context and not a substitute.
How is the DSCR figure built for a Akron property?
Every piece of PITIA is in the denominator. With $955 in rent, a 1.25 lender allows about $764, leaving $602 after median taxes of $162 a month.
How high are property taxes in Akron?
Median taxes paid are $1,950 a year, or 1.60% of median value, compared with 1.31% statewide. Ask Summit County's tax office what the bill becomes after your sale.
Can nightly stays at a Akron property support a DSCR file?
It depends on the program and on local law. A Akron owner needs the right permit or registration, an association that allows nightly stays, and documented bookings.
What does Ohio law say about deposits at a Akron rental?
Start with Ohio Rev. Code § 5321.16. The limit: No statutory cap. Return window: 30 days. Talk to a Ohio attorney for a lease form that matches.
Should I worry about hazards at a Akron property?
FEMA's National Risk Index rates the county's overall natural hazard risk as relatively moderate. That is a county-level view, so check the FEMA flood map and an insurance quote for the exact Akron address.
Do I need an LLC to buy a rental in Akron?
It is optional. Lenders will close in a properly formed LLC and generally want the members to guarantee. Ask your accountant how a OH entity would be taxed.