How many renters live in Akron, Iowa?
The City of Akron has 1,580 people living in 692 households.
There are 379 renters living in 201 renter households in this City. Renters make up 23.99 percent of the population living in Akron.
What is the rental market like in Akron, Iowa?
There are an estimated 769 housing units in the Akron area. Of these, 216 units are rental homes, making up 28 percent of the housing market. For every renter household in Akron, Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Akron?
The rental vacancy rate in Akron is 4 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Akron for each bedroom size?
Occupied Rental Units by Size in Akron
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 55 | 84 | 53 | 3 |
Occupied Rental Units by Size in Akron
A large number of apartments in Akron have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Akron are overburdened by housing costs?
Among renter households in this market, 29 percent have housing cost burden. Further, 10 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Akron
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $653 to $1,203. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $653 |
| One BR | $701 |
| Two BR | $862 |
| Three BR | $1,199 |
| Four BR | $1,203 |
2024 Fair Market Rents in Akron, Iowa
How many units are rented at Fair Market Rent (FMR) in Akron?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| One BR | 47 | 85 percent |
| Two BR | 73 | 87 percent |
Rental Units Below FMR in Akron, Iowa
How many affordable rental units are in Akron?
There are a variety of federal affordable housing programs serving households in Akron, Iowa including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 1 |
Tracked Units by Federal Program in Akron, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Akron, Iowa
Akron features 36 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Akron, Iowa
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Akron.
Housing Choice Vouchers in Akron, Iowa
On average, Section 8 Housing Choice vouchers pay Akron landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Akron.
The maximum amount a voucher would pay on behalf of a low-income tenant in Akron, Iowa for a two-bedroom apartment is between $776 and $948.
Sourced from federal housing data and AffordableHousingOnline.com research.
