Akron, Pennsylvania Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Akron, Pennsylvania rental market.
Akron, Pennsylvania
Average Apartment Rent
$1,477
Y-o-Y Change in Average
Apartment Rent
1.5%
As of July 2024
Compared to a year ago, Akron, Pennsylvania apartments have recorded a 1.5% rent increase.
Akron, Pennsylvania |Average apartment rent trend
Akron, Pennsylvania| Average apartment rent
Akron, Pennsylvania | Apartment rent ranges
At 74.38%, apartments priced $1,000 - $1,500 represent the bulk of Akron, Pennsylvania rentals, while condos priced Over $2,000 hold the lowest share of the market – 2.5%.
Akron, Pennsylvania | Housing tenure**
Renters take up 43% of Akron, Pennsylvania real estate, occupying a total of 730 units, while homeowners live in 964 properties.
Median number of rooms of renter-occupied housing units**
4.4
Renter median household income**
$45,303
Average household size of renter-occupied housing units**
2
Rental vacancy rate**
6.5%
Akron, Pennsylvania | Renter-occupied housing units by no. of bedrooms**
There are 507 rentals in Akron, Pennsylvania with 2 beds making up the highest share of the market, at 69%. Units with 1 bed, on the other hand, hold the lowest percentage (9%), amounting to 67 units. Overall, the median number of rooms in Akron, Pennsylvania homes for rent is 4.4.
Akron, Pennsylvania |Renter-occupied units by age of householder**
Most condos for rent in Akron, Pennsylvania are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 35 - 44 years age group (20%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Akron, Pennsylvania | Renter-occupied housing units by family type**
Akron, Pennsylvania | Renter-occupied housing units by the presence of own children**
A total of 340 apartments for rent in Akron, Pennsylvania, or 47% of all rentals are family households. Additionally, 27% of rental homes include children under the age of 18 – that’s 198 units. All in all, the median size of a renter-occupied household in Akron, Pennsylvania is 2.
Akron, Pennsylvania | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 13% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in Akron, Pennsylvania.
Akron, Pennsylvania | Renter-occupied units by year structure built**
The highest share of Akron, Pennsylvania apartment rentals, namely 24% or 173 units, were Built 1980 - 1989, followed by those Built 1939 or earlier (16%, 119 units), and the ones Built 1940 - 1949 (16%, 116 units).
Akron, Pennsylvania | Renter-occupied units by year householder moved in**
Median year renter moved into unit2017
Most Akron, Pennsylvania renters (38%) moved in 2010 to 2017, while only 3% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Akron, Pennsylvania condos for rent is 2017.
Akron, Pennsylvania | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 70% of Akron, Pennsylvania renters have 1 vehicle available per household, 18% of them have 2 vehicles available, and 8% have No vehicle available.
Akron, Pennsylvania | Means of transportation to work of householders living in renter-occupied housing units**
Akron, Pennsylvania |Geographical mobility in the past year for householders living in renter-occupied housing units**
Akron, Pennsylvania | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Akron, Pennsylvania apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates