Affordable Housing In Akron
Summit County, Ohio

101 Low Income Apartment Communities In Akron

Arlington Ridge

3043 Midway Ct
Akron, OH
Call For Rent
1-3 BR
HCV Welcome

Cascade Village Apartments

212 E North St
Akron, OH
Call For Rent
1-3 BR
HCV Welcome

Stoney Pointe Commons

1791 Vernon Odom Blvd.
Akron, OH
1 BR
HCV Welcome
Subsidized
Supportive Housing
VASH Welcome

Edgewood Village Family Housing

491 Vernon Odom Blvd
Akron, OH

Cascade Falls

1761 East Waterford Court
Akron, OH
Call For Rent
1-4 BR

Annunciation Terrace

25 Broad St
Akron, OH
HCV Welcome

Mel Myers - Highland Square

1653 Merriman Rd
Akron, OH
Subsidized

Mctaggert Court I

2670 Michaels Dr
Akron, OH
Accessible
Disabled Supportive Housing
Subsidized

Oak Creek Apartments

1337 Massillon Rd
Akron, OH
HCV Welcome

Collinson Apartments

1010 Rosemary Blvd
Akron, OH
Subsidized

Housing Authorities that serve Akron

Housing Authority Programs
Akron Metropolitan Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Akron, Ohio

There are 101 low income housing apartment communities offering 8,586 affordable apartments for rent in Akron, Ohio. Akron features 5,851 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 2,333 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Akron.

Sourced from federal housing data and AffordableHousingOnline.com research.

Akron, OH Affordable Housing Snapshot

Total Affordable Apartment Properties 101
Total Low Income Apartments 8,586
Total Housing Units with Rental Assistance 5,851
Percentage of Housing Units Occupied By Renters 47.7%
Average Renter Household Size 2.30
Average Household Size 2.31
Median Household Income $34,512 ±$1,008
Median Rent $680 ±$9
Percentage Of Renters Overburdened 51.57% ± 2.18pp
Total Population 198,329

Population and Household Demographics

Akron is a City in Summit County, Ohio with a population of 198,329. There are 83,684 households in the city with an average household size of 2.31 persons. 47.7% of households in Akron are renters.

Income and Rent Overburden in Akron

The median gross income for households in Akron is $34,512 a year, or $2,876 a month. The median rent for the city is $680 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Akron, a household making less than $2,267 a month would be considered overburdened when renting an apartment at or above the median rent. 51.57% of households who rent are overburdened in Akron.1

Area Median Income In Akron

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Akron, the AMI is calculated from all households within Summit County.

In Akron, HUD calculates the Area Median Income for a family of four as $72,300

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Akron

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Akron HUD Rental Assistance in Akron

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,200 $17,400 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $25,350 $28,950 $32,550 $36,150 $39,050 $41,950 $44,850 $47,750
80% of Median $40,500 $46,300 $52,100 $57,850 $62,500 $67,150 $71,750 $76,400
Low Income Housing Tax Credits in Akron

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1987 to 2012, 56 low income apartment communities containing 3,555 rental apartments have been constructed and made affordable to low income persons in Akron by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Akron

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $25,350 $28,950 $32,550 $36,150 $39,050 $41,950 $44,850 $47,750
60% of Median $30,420 $34,740 $39,060 $43,380 $46,860 $50,340 $53,820 $57,300

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Akron is $39,060 a year, or $3,255 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,255 by 30% to get a maximum rent of $977 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $634 $679 $814 $940 $1,049 $1,158
60% $761 $815 $977 $1,128 $1,259 $1,389
Fair Market Rents in Akron

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$557 $659 $847 $1,065 $1,147