Akron, OH Cost Of Living
Cost Of Living In Akron, OH Summary
Cost of living in Akron research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Akron is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Ohio, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Akron is 87, with 100 being the average.
The cost of living index in Akron is 0.9x lower than the national average.
Akron ranks as the #89 cheapest in Ohio out of 286.
Akron ranks as the #1,101 cheapest out of 6,412 in the US.
The median home value in Akron is $87,100.
The median income in Akron is $42,129.
Table Of Contents
Akron's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Akron, OH?
According to the most recent data on the cost of living, Akron has an overall cost of living index of 87, which is 0.9x lower than the national index of 100.
Compared to Ohio, Akron has a cost of living index that's 1.0x lower than Ohio's index of 91.
The standard of living in Akron ranks as #89 most affordable out of the 286 places we measured in Ohio. By definition, that implies Akron ranks as the #197 most expensive place in the Buckeye State.
For more reading on life in Akron, check out:
- Living In Akron
- Akron Crime Report
- Search Homes For Sale In Akron, OH
In Ohio
In America
Akron Cost Of Living Vs. Ohio
Six factors go into calculating the cost of living index in Akron. Here is how it fairs on each of the criteria:
The Services index in Akron is 99.
The Groceries index in Akron is 101.
The Health index in Akron is 104.
The Housing index in Akron is 53.
The Transportation index in Akron is 93.
The Utilities index in Akron is 102.
| Living Expense | Akron | Ohio | National Average | |
|---|---|---|---|---|
| Overall | 87 | 91 | 100 | |
| Services | 99 | 98 | 100 | |
| Groceries | 101 | 101 | 100 | |
| Health | 104 | 95 | 100 | |
| Housing | 53 | 73 | 100 | |
| Transportation | 93 | 98 | 100 | |
| Utilities | 102 | 93 | 100 | |
Akron, OH Housing Cost Breakdown
Housing swings affordability the most between places in Ohio, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Akron is $87,100.
The Median Rent in Akron is $821.
The Median Income in Akron is $42,129.
The Home Value To Income in Akron is 2.1x.
The Rent To Monthly Income in Akron is 0.23x.
| Statistic | Akron | Ohio | United States |
|---|---|---|---|
| Median Home Value | $87,100 | $159,900 | $244,900 |
| Median Rent | $821 | $870 | $1,163 |
| Median Income | $42,129 | $61,938 | $69,021 |
| Home Value To Income | 2.1x | 2.6x | 3.5x |
| Rent To Monthly Income | 0.23x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Akron, OH Costs By Category
Detailed Akron Services Costs Vs. Ohio
Detailed Akron Groceries Costs Vs. Ohio
Detailed Akron Health Costs Vs. Ohio
Detailed Akron Transportation Costs Vs. Ohio
Detailed Akron Utilities Costs Vs. Ohio
Akron SnackAbility
/10
Cost Of Living In Cities Around Akron
The cost of living varies in the cities and towns around Akron. Here's a quick look at the cost of living in the most populous nearby places:
Cuyahoga Falls, OH has a cost of living index of 90, 1.0x Akron.
Stow, OH has a cost of living index of 99, 1.1x Akron.
North Royalton, OH has a cost of living index of 101, 1.2x Akron.
| City | Population | Cost Of Living | Vs. Akron |
|---|---|---|---|
| Cuyahoga Falls, OH | 50,906 | 90 | 1.0x |
| Stow, OH | 34,556 | 99 | 1.1x |
| North Royalton, OH | 31,150 | 101 | 1.2x |
| Barberton, OH | 25,309 | 88 | 1.0x |
| Hudson, OH | 23,001 | 124 | 1.4x |
| Broadview Heights, OH | 19,820 | 104 | 1.2x |
| Twinsburg, OH | 19,220 | 103 | 1.2x |
| Tallmadge, OH | 18,409 | 96 | 1.1x |
| Aurora, OH | 17,108 | 111 | 1.3x |
| Brecksville, OH | 13,607 | 114 | 1.3x |
