Akron’s real estate market has been experiencing notable shifts, reflecting broader economic trends and local developments. Understanding these changes is crucial for prospective homebuyers, renters, and investors.
Current Market Trends
As of March 2026, the median sale price of homes in Akron reached $152,000, marking a 21.4% increase from the previous year. Homes are selling in approximately 42 days, with an average of three offers per property, indicating a competitive market. Source
In the rental sector, the average rent stands at $1,123 per month, reflecting a 4.1% year-over-year increase. This positions Akron as an affordable option compared to the national average rent of $1,910. Source
Notable Development Projects
Several development projects are contributing to Akron’s evolving real estate landscape:
The Bowery
Completed in 2020, The Bowery transformed six historic buildings into a mixed-use development featuring 92 apartments and retail spaces. This project has revitalized a significant portion of downtown Akron, blending modern amenities with historical architecture. Source
Arlington Ridge Townhomes
Located in the suburb of Green, the Arlington Ridge Townhomes community offers 46 affordable housing units across six buildings. Completed in December 2019, the development includes amenities such as a fitness center, business center, and community garden, catering to a diverse range of residents. Source
Investment Opportunities
For investors, Akron presents a compelling case. The market is currently undervalued by approximately 9.7%, with a PropertyIQ Score of 88 out of 100. This combination of high demand and undervaluation suggests potential for appreciation and favorable returns on investment. Source
In summary, Akron’s real estate market is characterized by rising home prices, competitive rental rates, and significant development projects that enhance the city’s appeal. Whether you’re considering purchasing a home, renting, or investing, staying informed about these trends is essential for making well-informed decisions.