Akron, OH Community Information

Akron, OH Homes for Sale

Akron Metro and Neighborhood Information

Once renowned as the "Rubber Capital of the World," Akron is wedged between Cleveland and Canton in northeastern Ohio. It is bounded by the Cuyahoga River, tied to a legacy with the surrounding waters. The city was established as an industrialized center in 1825, and for a period of time, its first history would be linked to its location at the mouth of the Ohio and Erie Canal. The village of Akron began as a small-scale settlement of 43 blocks. As development intensified, the village split into two sides of North and South Akron. By 1836 the villages had joined and the city of Akron was reborn. It would remain a starter canal city until the early 20th century when it would be revolutionized by the rubber industry. The advent of the rubber industry predated the country's infatuation with the automobile. But by 1869, B.F. Goodrich had opened his rubber business in downtown Akron. As the industry expanded, General Tire and Rubber Company also made Akron its home, prompting its "Rubber Capital" moniker. As overseas technology gradually surpassed domestic methods, the rubber industry fell into a regression, mimicking the Rust Belt decline throughout neighboring states. Modern Akron has since rebounded, branching out into other economical fields. Although the city's economy has stabilized, its population has steadily decreased, estimated at 210,795 in 2005.

Despite a waning population, Akron still draws a strong number of visitors every year. One of the main magnets is the Cuyahoga Valley National Park. It houses 33,000 acres of flora and fauna along the Cuyahoga River reservoir. The park offers hiking paths up picturesque valley hills and biking trails through the dense forest preserves. Although this gem is just a minutes from the city, its rustic simplicity seems worlds away. But it doesn't get much older than Quaker Square, a downtown revitalization project of a hotel and entertainment complex converted from mills and silos of the Quaker Oats factory from the late 1800s. This unique structure has become a nationally registered historic site boasting a one-of-a-kind experience in round hotel rooms inside a renovated silo. Eateries are also available within the complex, housed in a refurbished train car. While visitors have discovered Akron's old town charm, residents and Akron home buyers are still finding the city's real estate market comfortably affordable.

According to homeinsight.com, the Akron median home price is just below the $100,000 mark, reflecting a two percent appreciation in the last 2-5 years. Statewide, Akron real estate is also one of the most competitively priced, with homes for sale selling for an average home price of $121,000. Buying a home in Akron is also made easier by the variety of housing stock and diversified neighborhoods. Whether prospective Akron home buyers are searching for single family homes, single-unit apartments or high-rise condominiums, this city delivers. In downtown Akron, residential and commercial properties intermingle, in a city known for reinvention. During the city's residential development boost, the historic YMCA was converted into a contemporary apartment complex and modern condominiums were also erected at Canal Park. Renovation and city beautification efforts have revitalized the downtown area, now the perfect blend of old and new. Just northwest of the city is Fairlawn Heights, a predominantly single-family community in the city's wealthiest district. Fairlawn Heights real estate has some of the highest property values in the city, punctuated by a quaint and secure pastoral backdrop. Discover what this city offers and start your Akron home search today!

Sources:
http://en.wikipedia.org/wiki/Akron%2C_Ohio
http://www.census.gov/population/www/
http://www.dayinthevalley.com/
http://www.cvsr.com/quake.shtml
http://www.homeinsight.com/home-value/OH/akron.asp
http://www.homegain.com/local_real_estate/OH/akron.html?entryid=2811
http://en.wikipedia.org/wiki/Akron_neighborhoods

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Barberton (339)
Bath (1)
Clinton (69)
Copley (138)
Cuyahoga Falls (566)

Fairlawn (159)
Green (34)
Hudson (353)
Lakemore (28)

Macedonia (307)
Munroe Falls (36)
New Franklin (603)
Northfield (307)

Norton (339)
Peninsula (25)
Richfield (78)
Sagamore Hills (175)

Silver Lake (206)
Stow (206)
Tallmadge (98)
Twinsburg (149)

Akron, OH Community Information

Population

265,004

Median Age

37.4

Median Household Income

$48,540

Households with Children

44.37%

Median Travel Time to Work

22 minutes

Akron, OH Real Estate Market Information

Homes Owned

62.57%

Homes Rented

32.65%

Homes Vacant

4.79%

Akron, OH Home Price-Rent Ratio

The price-rent ratio is a great way to compare the costs of buying and renting both within a city and is useful to compare against other cities as well. Technically it is the average cost of ownership divided by the received rent income if buying to let. The formula is House Price / (Monthly Rent x 12).

12:1

Low Home Price-Rent Ratio

High Home Price-Rent Ratio

What does it mean?

1-10

It is less expensive to own than to rent a home in this city depending factors such as length of ownership.

11-20

The total costs of ownership of a home in this city are greater than the costs of renting, but it might still make financial sense depending on the situation.

21 or greater

The total costs of owning a home in this city are greater than the costs of renting depending factors such as length of ownership.

*Note that this index is a broad measure. Contact a local agent to understand local market conditions.

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Akron, OH School Information

These are the closest schools to your requested location. Proximity does not guarantee enrollment eligibility. Please consult your real estate agent or school district to confirm the schools you are zoned to attend.