CALCMONEY // HOME AFFORDABILITY // OH // AKRON
How much house can you afford in Akron? Based on local median home prices, current OH mortgage rates, and Akron property tax data.
$155,000
$1,094/mo
$46,902/yr
$146,578
Monthly housing costs of $1,094 represent 29.2% of Akron's median gross monthly income ($3,750/mo). At 29.2%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $155,000 |
| Down Payment (20%) | $31,000 |
| Loan Amount | $124,000 |
| Monthly PI Payment | $817 |
| Monthly Property Tax | $213 |
| Monthly Insurance Est. | $65 |
| Total Monthly PITI | $1,094 |
| Housing Cost % of Income | 29.2% |
| Required Income (28% rule) | $46,902/yr |
| Max Affordable Home | $146,578 |
$5,425
$1,369/mo
Akron Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $155,000 | Akron city median |
| Down Payment (20%) | $31,000 | Conventional loan |
| Monthly PITI | $1,094 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $46,902 | Annual gross |
| Max Affordable Home | $146,578 | Based on median income |
| FHA Down (3.5%) | $5,425 | Minimum FHA |
| Housing Cost % of Income | 29.2% | Median income: $45,000/yr |
| Property Tax Rate | 1.65% | $2,558/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Akron is $155,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $124,000, generating a monthly P&I payment of $817. Adding property taxes ($213/mo) and homeowners insurance ($65/mo) brings total monthly PITI to $1,094.
Akron's property tax rate of 1.65% is near the national average, adding a standard increment to monthly housing costs. On the Akron median home, that is $213/month, or $2,558 per year.
Ohio levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Akron should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Akron's median income of $45,000/year can afford up to $1,050/month in total housing costs. Based on Akron's mortgage rate of 6.9% and property tax rate of 1.65%, that translates to a maximum affordable home price of approximately $146,578 with 20% down on a 30-year loan.
To afford the median Akron home priced at $155,000, you need an annual gross income of approximately $46,902. Total monthly housing costs (principal and interest of $817, property taxes of $213, and insurance of $65) come to $1,094/month, which equals 28% of the required income.
At the median home price of $155,000 and median household income of $45,000, the total monthly housing cost of $1,094 represents 29.2% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Akron home of $155,000 is $31,000. An FHA loan requires just 3.5% down — $5,425 — but adds mortgage insurance of roughly $106/month, bringing total FHA payments to $1,369/month.
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