Ohio · 87th largest metro area

Buying a home in Akron, Ohio

In Akron, the median value of owner-occupied homes is $122,000, Summit County's effective property tax rate is 1.53%, a purchase mortgage carried a median $5,322 in total loan costs in 2025, and median gross rent is $955 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Akron home costs, fact by fact

About Akron

Median gross rent is $955 per month, and 50.7% of homes are owner-occupied. Census estimates count 189,664 people in the city.

Calculate for Ohio

If you buy

Ohio state transfer tax

Conveyance fee (collected by the county auditor): Franklin County: $3 per $1,000 of price, of which $1 is the state share and $2 is the county share; $1 per $1,000 if the seller receives the homestead exemption. Change the price: the amount is recalculated instantly.

Price$254,100
State transfer tax$254.10
Share of the price0.1% of the price
Who paysSet by the purchase contract

Default price: the Ohio median value of owner-occupied homes, $254,100 (Census ACS 2025). Rule: State share only: round the sale amount up to the nearest $100, then $1 per $1,000 ($0.10 per $100). Franklin County adds $2 per $1,000 set by the county commissioners (waived if the grantor has the homestead exemption), a $3 minimum conveyance fee and a $0.50 transfer tax on every non-exempt transfer. Plus, in Franklin County, which includes Columbus, $2 per $1,000 set by the county commissioners (waived if the seller has the homestead exemption) and a $0.50 transfer tax (Franklin County Auditor). Who pays: The sources do not say who must pay; the contract controls. The reduced homestead rate refers to the grantor (seller), which points to the seller as the party charged. Not included: other county and city transfer taxes, recording fees, title insurance and lender charges. Ohio transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Ohio state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Akron

How much is property tax in Akron?

Homeowners in Summit County pay a median $3,195 a year in property tax, 1.53% of the county median home value of $208,700 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Akron?

Home-purchase mortgages in Summit County carried median total loan costs of $5,322 in 2025; half of the 5,229 loans fell between $4,056 and $7,577 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Akron?

Ohio does not call it a transfer tax; counties collect a conveyance fee when a deed is presented to the auditor. Franklin County's calculator shows $3 per $1,000 of the price, made of $1 set by the State of Ohio and $2 set by the county commissioners, plus a $0.50 transfer tax.

Is it cheaper to rent or buy in Akron?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Akron ($122,000) equals 10.6 years of the median gross rent ($955 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Ohio rules that apply in Akron

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Sources

Ohio · All states · Federal guides