Rent, population, and median household income are important factors to consider for a 1031 exchange in Akron due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Akron, Ohio is a part of the Cleveland-Elyria, OH MSA metropolitan area, and contains 27 zip codes, including: 44372, 44398, 44319, 44396, 44316, and 44303.
Akron Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Akron, OH metropolitan area was $826, which is 12.08% lower than 2014 average rent. This represents a compounded annual growth rate of 2.31%. 2019 vacancy in Akron, OH was 2.30%.
The total population of the city of Akron, OH has decreased 0.55% since 2010. As of 2018, the population was 198,006. The median household income of the Akron was $37,533, which is 37.75% lower than the national average.
- metropolitan area Cleveland-Elyria, OH MSA
- avg rent $826
- rent growth 12.08%
- vacancy 2.30%
- median income $37,533
- population (2018) 198,006
- population growth -0.55%
- vs. nat'l avg 37.75%
- zip codes 44301 44302 44303 44304 44305 44306 44307 44308 44309 44310 44311 44312 44313 44314 44315 44316 44317 44319 44320 44321 44325 44326 44328 44333 44372 44396 44398
