Mortgage payment estimates, closing cost breakdowns, and homebuying data for Akron, Ohio.
Median Home Price
$135K
Population
190K
Avg Monthly Rent
$880
Property Tax Rate
1.56% *
* Property tax shown is the Ohio state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Akron.
Akron vs Ohio Median
The median home price in Akron is $135,000, which is 37% below the Ohio state median of $215,000.
Mortgage Calculator — Akron, OH
Pre-filled with Akron median home price and Ohio tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $135K home using Ohio's 1.56% tax rate and $1,400/yr insurance.
5% Down
$1,178/mo
Down: $6,750
Loan: $128K
P&I: $811
Tax: $176
Insurance: $117
PMI: $75
10% Down
$1,131/mo
Down: $13,500
Loan: $122K
P&I: $768
Tax: $176
Insurance: $117
PMI: $71
20% Down (No PMI)
$975/mo
Down: $27,000
Loan: $108K
P&I: $683
Tax: $176
Insurance: $117
Income needed (28% rule): $42K/year with 20% down, $48K/year with 10% down.
Rent vs Buy in Akron
Rent
$880/mo
vs
Buy (10% down)
$1,131/mo
Price-to-rent ratio: 12.8 — With a ratio under 15, buying in Akron is likely more cost-effective than renting if you plan to stay 3+ years. The monthly cost of buying is $251 more than renting, but you build equity with every payment.
The median home price in Akron is $135,000, 37% below the Ohio state median of $215,000. With a population of 190,469, Akron is a mid-size city where home prices tend to be more accessible than in many parts of Ohio.
Property taxes in Ohio average 1.56% annually. This higher-than-average tax rate means a $135,000 home in Akron would carry roughly $176/month in property taxes alone — plan accordingly. Homeowners insurance in Ohio runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Akron is $880/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Akron over the long term.
Akron offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Ohio's OHFA Your Choice! Down Payment Assistance program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Akron.