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212 East North Street Akron, OH
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Akron:
December Rent Report

Welcome to the December 2024 Akron Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2024 key findings and figures for the Akron rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Akron and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Akron average rent prices in the chart below.

Monthly Rent Report

$1,100
$830
$550
$280
$0
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
May. 2024
Jun. 2024
Jul. 2024
Aug. 2024
Sep. 2024
Oct. 2024
Nov. 2024
Dec. 2024
1 BR       2 BR

Akron Rent Prices Decrease From November to December

Akron rent prices decreased over the last month. From November to December, the city experienced a -0.65% decrease for the price of a one-bedroom apartment. The rent price for a Akron one-bedroom apartments currently stands at $764.0.

When we take a look at the two-bedroom comparison from November to December, Akron experienced a 3.71% increase for the price of a two-bedroom apartment. The rent price for a Akron two-bedroom apartments currently stands at $1,034.0.

December Prices: Akron vs. Surrounding Areas

Kent, OH
Stow, OH
Cuyahoga Falls, OH
Barberton, OH
Akron, OH
$1,383
$1,363
$976
$866
$769
$0
$450
$900
$1,350
$1,800
Median 1 BR Rent

Rent Prices in Akron and Surrounding Areas

Rent prices have decreased in Akron over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 2 of the Akron suburbs increased last month. On the other hand, 2 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Cuyahoga Falls, OH, Stow, OH .

  • Rent decreased in Kent, OH, Barberton, OH.

  • 4 suburbs are currently priced higher than the city of Akron.

December 2024 Pricing Trends: Akron vs. National Comparisons

New York, NY
San Francisco, CA
Los Angeles, CA
Washington, DC
Chicago, IL
Columbus, OH
Minneapolis, MN
Pittsburgh, PA
Akron, OH
$4,134
$3,160
$2,389
$2,353
$1,914
$1,318
$1,255
$1,234
$769
$0
$1,350
$2,700
$4,050
$5,400
Median Rent

Akron Rent Prices More Affordable Than Major Cities

Rent growth in Akron over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Akron average rent prices appear to be relatively affordable for local residents.

The price for a Akron one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Akron and surrounding area rent prices, take a look at the complete data set below.

Data set for Akron and suburbs

1 BR December 1 BR M/M % Change 2 BR December 2 BR M/M % Change
Akron, OH $769.0 0.00% $997.0 1.84%
Kent, OH $1,383.0 -8.29% $1,774.0 -0.34%
Cuyahoga Falls, OH $976.0 0.10% $1,593.0 11.17%
Stow, OH $1,363.0 2.40% $2,645.0 -1.16%
Barberton, OH $866.0 -1.48% $925.0 4.40%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.