Akron Home Prices & Values

$62,800 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • -0.6% 1-year change
  • 0.7% 1-year forecast

Market Temperature: Very ColdWhat's This?
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Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Buyers' Market Sellers' Market

The median home value in Akron is $62,800. Akron home values have declined -0.6% over the past year and Zillow predicts they will rise 0.7% within the next year. The median list price per square foot in Akron is $53, which is lower than the Akron Metro average of $86. The median price of homes currently listed in Akron is $64,500 while the median price of homes that sold is $79,885. The median rent price in Akron is $625, which is lower than the Akron Metro median of $750.

Foreclosures will be a factor impacting home values in the next several years. In Akron 13.4 homes are foreclosed (per 10,000). This is greater than the Akron Metro value of 9.0 and also greater than the national value of 4.4

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Akron is 7.4%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Akron homeowners underwater on their mortgage is 30.1%, which is higher than Akron Metro at 18.5%.

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Relative ZHVI
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Akron Market Overview

Data through Jul 31, 2014
  • $62,800 ZHVI
  • 0.7% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jul 31, 2015)
  • $64,500 Median listing price
  • $79,885 Median sale price
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Akron Market Health

Data through Jul 31, 2014
  • 0.2/10 Less healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average days on Zillow
  • 30.1% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 7.4% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

13.4 homes Akron
9 homes Akron Metro
4.4 homes United States
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Neighborhoods in Akron

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Highland Square $86,600 Chapel Hill $68,700 Firestone Park $68,600
North Hill $57,600 Elizabeth Park Valley $52,100 West Akron $52,000
University of Ohio Akron $47,200 South Akron $46,500 Lane-Wooster $43,700

Listings & Sales

Data through Jul 31, 2014
  • $53 Median list price / sq ft
  • $66 Median sale price / sq ft
  • 41.6% Listings with price cut
32.8%
Sold below listing
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Akron Rentals

Data through Jul 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$762 Akron
$1,084 Akron Metro
$1,318 United States
  • 2.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $625 Rent list price
  • $0.63 Rent list price / sq ft
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