Compare Akron, OH mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Akron.
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December 1, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Akron. Understand how much you need to earn to afford a home in Akron, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Akron fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Akron is right for you.
The median home value for Akron, OH (Summit County) is $190,855
Based on current mortgage rates and a 10% down payment, you need to make $31,271 per year to buy the median priced home in Akron
With this income, you could qualify for a $171,770 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Akron is $724
The median household income for Akron, OH (Summit County) is $62,003
Based on this income, you can afford a home valued at approximately $378,423
The home price you can afford to buy based on household income in Akron is 198% of the median home value which means housing prices are average. Akron (Summit County) ranks 65 out of 88 counties in Ohio and 1,765 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Akron, OH is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Akron (Summit County) below.
Conforming loan limits for Akron, OH
FHA loan limits for Akron, OH
VA loan limits for Akron, OH