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Akron, OH Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$1,155
Monthly Cash Flow
$158
Principal + Equity
$1,017
Annual Total Gain
$14,100
Cash on Cash
5.54%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$147
Occupancy Rate
58.33%
Monthly Revenue
$1,843
Monthly Cash Flow
$569
Principal + Equity
$1,017
Annual Total Gain
$19,034
Cash on Cash %
20%
Net ROI %
Market Health & Growth
Median Income
$48,544
Population
189,526
LTR Renter %
49.24%
Forecast (1 yr)
2.22%
Appreciation (1 yr)
0.68%
Appreciation (5 yr)
51.11%
Appreciation (10 yr)
116.31%
Job Growth
-0.54%
LTR Rentability
Low
STR Demand
62
STR Rentals
385
Top Public Schools
A-Herberich Primary Elementary School
A-Revere Middle School
A-
A-
A-
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B-
Overall
Top-level market grade
Most Diverse Cities in America
#110out of 229 markets
Best Cities for Outdoor Activities in America
#107out of 229 markets
Cities with the Lowest Cost of Living in America
#13out of 229 markets
C-
Public School
D
Crime And Safety
C
Housing
B
Nightlife
C
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Akron, OH.
As of September 2021, Akron, OH does not have specific regulations in place for short term rentals (STRs). However, it is important for investors to be aware of potential regulations that may be implemented in the future.
Investors should consider the following factors before purchasing a property for short term rental in Akron:
1. Zoning regulations: Investors should check the zoning regulations in the specific area where they are considering purchasing a property for short term rental. Some areas may have restrictions on short term rentals or require a special permit.
2. Licensing and permits: While Akron does not currently require a specific license or permit for short term rentals, this may change in the future. Investors should stay informed about any updates to licensing requirements.
3. Taxes: Investors should be aware of any local taxes that may apply to short term rentals, such as occupancy taxes or sales taxes. It is important to comply with all tax regulations to avoid penalties.
4. Homeowner's association rules: If the property is located in a community with a homeowner's association (HOA), investors should review the HOA rules and regulations regarding short term rentals. Some HOAs may have restrictions on renting out properties for short periods of time.
5. Insurance: Investors should ensure that they have the appropriate insurance coverage for a short term rental property. This may include liability insurance and coverage for damage caused by guests.
Overall, while Akron does not currently have specific regulations for short term rentals, investors should be proactive in researching and understanding any potential regulations that may impact their investment in the future. It is important to stay informed and compliant with all local laws and regulations to ensure a successful short term rental investment in Akron.
Market Trends Over Time
Explore 25 years of market data for Akron, OH, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Akron, OH.
The LTR Genie Score of Akron, OH is 70 and STR Genie Score is 74, indicating a moderate to high level of attractiveness for both long-term and short-term rental investments. The LTR Rentability is low, which may be attributed to the low LTR Rent Growth Rate of 0.0602%. However, the LTR Net ROI of 41.31% and STR Net ROI of 55.76% suggest favorable returns for investors. The 1-Year Price Appreciation Forecast of 2.22% indicates potential for property value growth. The STR Occupancy rate of 58.33% and STR Revenue of 1843 also point towards a strong short-term rental market in Akron.
Akron, OH is a city known for its diverse economy, with industries ranging from healthcare and education to manufacturing and technology. The city offers a mix of urban amenities and outdoor recreational opportunities, making it an attractive location for both residents and visitors.
Based on the metrics provided, Akron, OH appears to be a promising market for both long-term and short-term rental investments. Investors may consider diversifying their portfolio by exploring opportunities in both rental strategies to maximize returns in this growing market.
