Akron real estate market overview
- Average Monthly Rent: $835
- Home Price/Value Percentage Change: 6.70%
- Median Home Value: $73,012
- Best Time To Sell a Home: June
- Affordability Index: High
- Days To Sell a House: 79
- Job Market: Weak
- Public School Ranking: 28
Location and weather
Akron is in the Summit county of northeastern Ohio. It lies along the Cuyahoga River, just 40 miles southeast of Cleveland. Akron is home to many parks, gardens and zoos, as well as the Portage Lakes State Park and the Akron Art Museum. Its long history of rubber and tire manufacturing, which is still carried on by Goodyear Tire today, gave Akron the nickname "Rubber Capital of the World".
Akron summers are warm, humid, and partly cloudy, while the winters are freezing and cloudy. The summer high temperatures are in the 80's, with lows in the high 60's. The winter high temperatures are in the 40's, with lows in the 20's.
Population, job market and cost of living
Akron's population in 2019 was 198,252, with a growth rate of -2.3%.
The job growth has increased by .83% over the last year and in ten years, is predicted to have increased by 26.18%. The major industries are in manufacturing, health care, social assistance and retail trade. The largest companies to work for are Goodyear Tire and Rubber Company, FirstEnergy, Summa Health, Akron Children's Hospital and the University of Akron. The cost of living is low, due to the Akron real estate market and cost and availability of housing.
With a diversity of jobs in manufacturing, steady job growth, many outdoor recreational venues, mild summers and the benefits of having a university nearby, Akron will continue to attract people to live and work in this northern river city.
Akron real estate market details
- Goodyear Heights
- Highland Square
- West Akron