Average Rent in Akron, OH↓ Rents falling 2.9% YoY🔺 5th priciest in OH

Akron, OH has rental prices ranging from $886/month to $1,618/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $952/month — 32% below the national average of $1,400/month. With a median household income of $71,312/year, spending $952/month on a 1-bedroom represents 16% of gross income — within the recommended 30% threshold.

How Akron Compares

With an average 2-bedroom rent of $1,231/month, Akron ranks #5 most expensive of the 72 cities tracked in Ohio — pricier than 77% of all US cities in our data.

The Akron Rental Market

The Akron, OH area has a population of about 699,508 and 32% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Akron, OH have fallen by $37/month (2.9%) over the past year, from $1,268 to $1,231. This slight decline is consistent with broader market corrections seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Akron, OH without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $38,080. The local median household income of $71,312 exceeds that threshold by $33,232, making Akron relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Akron, OH is $138,865, giving a price-to-rent ratio of 9.4. The break-even point between renting and buying is roughly 9 years — renting offers more flexibility for shorter stays, while buying makes more sense for long-term residents.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Akron's neighborhoods. Among the highest-value areas are Summit Lake ($66,851 median home value), Middlebury ($67,301 median home value), East Akron ($72,254 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Akron, OH Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Akron?

Break-even analysis and mortgage estimates based on local market data.

Living in Akron

Cost of living, job market, crime rates, and moving cost estimates.