Cost of Living in Akron, Ohio
In Akron, the median household income is $48,076 and the median gross rent is $955/mo, with a median home value of $122,000. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $48,076
- Median gross rent
- $955/mo
- Median home value
- $122,000
- Population
- 189,247
How Akron compares to the Ohio average
| Measure | Akron, OH | Ohio statewide | Difference |
|---|---|---|---|
| Median household income | $48,076 | $71,389 | -32.7% |
| Median gross rent (monthly) | $955 | $1,034 | -7.6% |
| Median home value | $122,000 | $214,800 | -43.2% |
Statewide, Ohio prices average 92.8 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Akron
- Salary needed for median rent
- $38,200
- Rent burden at median income
- 23.8%
- Est. affordable home price
- $175,378
So that $955/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Akron is $122,000 — within what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Ohio cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.