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Cost of Living in Akron

Is it better to rent or buy in Akron? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$80,330
$1,136/mo

Median in area: $1,136

$223,914

Median in area: $223,914

$44,783

If you Rent

🔑
$1,329 /mo
Base Rent$1,136
Est. Utilities$193
% of Income19.9%
Pre-tax Residual$5,365

If you Buy

🏠
$1,675 /mo
P&I (6.5%)$1,132
Taxes & Ins$350
Est. Utilities$193
% of Income25.0%
Pre-tax Residual$5,019

Cost of Living FAQs

Is it cheaper to rent or buy in Akron?›

Based on median housing data, renting is currently more affordable on a monthly basis in Akron. The estimated all-in monthly cost for renting is $1,329, while owning a median-priced home with a 20% down payment is roughly $1,675 per month (a difference of $346).

How much do utilities cost in Akron?›

The average monthly utility cost (electricity and natural gas) for a typical home in Akron is approximately $193. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Akron?›

To comfortably afford the median rent and utilities in Akron without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $53,160 per year.