Akron’s housing market has experienced notable changes, reflecting broader economic trends and local developments. Understanding these shifts is essential for prospective buyers, renters, and investors.
Current Market Trends
As of April 2026, the average home value in Akron stands at $140,512, marking a 2.5% increase over the past year. Homes typically go pending in about 10 days, indicating a competitive market. The median sale price is $125,667, with a median list price of $141,600. Notably, 31.1% of sales have been above the list price, underscoring strong demand.
Rental Market Insights
The rental sector has also seen growth. The average rent in Akron is $1,135, reflecting a 4.3% year-over-year increase. This remains below the national average rent of $1,930, making Akron an attractive option for renters seeking affordability.
Local Development Projects
Several development initiatives are contributing to Akron’s housing 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 key area in downtown Akron, blending modern amenities with historical charm.
Arlington Ridge Townhomes
Located in the suburb of Green, the Arlington Ridge Townhomes community offers 46 units across six buildings. Completed in December 2019, these townhomes provide affordable housing options with amenities such as energy-efficient appliances and community spaces.
Edgewood Village Family Housing
Edgewood Village, built between 2008 and 2012, comprises 178 units, including townhouses and single-family homes. Situated in West/Central Akron, this development offers a range of housing options with rents varying from income-based to non-subsidized.
Conclusion
Akron’s housing market is characterized by rising home values, a competitive rental landscape, and ongoing development projects that enhance the community’s appeal. Staying informed about these trends is crucial for making well-informed housing decisions in the area.