Rent to own Homes in Akron, OH
Anyone who wants to buy or rent to own a home will love Akron. It is a very affordable city with a median list price of about $59,900 and median sale price of $55,000, for the last 12 months citywide. These numbers vary widely from ZIP code to ZIP code. The number of home listings is trending up and stands at 17.3 percent as of August 2013. New real estate closings for the 12 months ending January 2013 declined by 5 percent year over year. Of the total home closings, 4.1 percent were new homes. Approximately 54 percent of properties are owned, while 33 percent are rented. Of all properties available for sale or rent, 13.5 percent are vacant. There is a large number of distressed properties (foreclosures and short sales), and that is keeping sale prices low.
Akron, OH is a great place for affordable rent-to-own homes! With a median household income of over $40,281 and a median rent of $795, the Akron, OH rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Akron, OH. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Akron, OH Property Resources
Rent to own Homes in Cities Near Akron, OH
- Akron
- Atwater
- Aurora
- Bedford Heights
- Bentleyville
- Boston Heights
- Broadview Heights
- Canton
- Clinton
- Cuyahoga Falls
- Cuyahoga Heights
- Doylestown
- East Canton
- Fairlawn
- Glenwillow
- Green
- Greentown
- Hudson
- Independence
- Lakemore
- Limaville
- Louisville
- Mantua
- Maple Heights
- Marlboro
- Marshallville
- Massillon
- Medina
- Middlebranch
- Mogadore
- Munroe Falls
- Navarre
- New Franklin
- North Industry
- Norton
- Orrville
- Portage Lakes
- Reedurban
- Reminderville
- Richville
- Sawyerwood
- Sharon Center
- Solon
- Stow
- Streetsboro
- Suffield
- Sugar Bush Knolls
- Twinsburg Heights
- Uniontown
- Woodmere
Neighborhoods in Akron, OH
Chapel Hill rent to own homes Fairlawn Heights rent to own homes Downtown Akron rent to own homes East Akron rent to own homes Rolling Acres rent to own homes Wallhaven rent to own homes Elizabeth Park Valley rent to own homes Ellet rent to own homes South Akron rent to own homes Firestone Park rent to own homesBuying a Home in Akron, OH
Akron, OH is seeing rapid growth and Akron, OH's' housing market remains optimal with an average home price that is -62% below the 2024 national average. Akron, OH is part of Summit county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Summit is 1.53% which is above the national average, which is 0.99%.
Median Home Price in Akron, OH
Median Rent in Akron, OH
Arts and Culture Akron may struggle with its housing market, but this has not had a detrimental effect on its arts and culture offerings and tourist attractions. The Akron Art Museum has world-class artistic treasures like the works of Warhol and Bourke-White. The Akron Symphony Orchestra performs classical concerts and special music events for families. Theater lovers can enjoy plays and musicals at the E.J. Thomas Performing Arts Hall, the Weathervane Playhouse, and the Carousel Dinner Theater. There is even the Ohio Ballet located at the University of Akron. Akron also hosts the All-American Soap Box Derby World Championships, which has been held annually since 1934.
Tourist Attractions Akron has plenty of tourist attractions, and the best are centered around historical themes. The Stan Hywet Hall & Gardens, which was built for F.A. Seiberling, the founder of Goodyear Tire and Rubber Company, in 1915, features 65 rooms and gorgeous gardens. Visitors to Akron often visit the Cascade Locks Park along the Ohio and Erie Canal. The park is on the National Register of Historic Places and gives visitors a glimpse into the past when the canal and the rubber industry reigned supreme in the area. The Akron Zoo, heavily involved in green technology for operations and natural sustainability, is a place the whole family will enjoy.
Neighborhood Profiles The City of Akron's Department of Planning profiles 21 neighborhoods. Like most cities, some areas are better than others. The following is just a brief review of the various areas.