Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Akron might be more expensive than living in rural Ohio, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Akron neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Akron are the cheapest.
Here are the cheapest neighborhoods in Akron for 2019:
What’s the cheapest neighborhood to live in Akron for 2019? According to the most recent census data, North Hill looks to be the cheaptest Akron neighborhood to live in.
At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Akron. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Akron that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Akron.
Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more Ohio reading, check out:
- 10 Best Places To Live In Ohio
- These Are The 10 Best Counties To Live In Ohio
- Cheapest Cities To Live In America
- Cheapest States To Live In America
How We Determined The Cheapest Akron Hoods In 2019
In order to rank the cheapest places to live in Akron, we had to determine what criteria defines “cheap”.
Using census and extrapolated BLS data, we arrived at the following set of criteria:
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 21 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Akron.” We’re lookin’ at you, North Hill.
Read on below to learn more about what it’s like to live in the cheapest places Akron. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
The 10 Cheapest Neighborhoods To Live In Akron For 2019
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Population: 15,861
Cost Of Living Index: 78.0 (8th cheapest)
Home Value To Income Ratio: 1.3 (1st cheapest)
Rent To Income Ratio: 0.017 (8th cheapest)
More on North Hill: Homes For Sale | Data
The median income in North Hill comes in at $41,920 and the median home value is $53,360 for 2019.
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Population: 3,953
Cost Of Living Index: 77.0 (5th cheapest)
Home Value To Income Ratio: 1.5 (2nd cheapest)
Rent To Income Ratio: 0.022 (12th cheapest)
More on Elizabeth Park Valley: Homes For Sale | Data
The median income in Elizabeth Park Valley comes in at $32,567 and the median home value is $50,025 for 2019.
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Population: 19,778
Cost Of Living Index: 79.0 (12th cheapest)
Home Value To Income Ratio: 1.8 (3rd cheapest)
Rent To Income Ratio: 0.015 (5th cheapest)
More on Goodyear Heights: Homes For Sale | Data
As early as 1910 Frank A. Seiberling, founder and then president of the Goodyear Tire and Rubber Co., realized how detrimental the housing shortage was to his workers and his company. Even though labor was abundant, Seiberling believed that the transient nature of the workforce cost the company a great deal. Training wasnt cheap, and the cost of constantly retraining new employees was proving unmanageable. To solve this problem, Seiberling proposed purchasing a large parcel of farmland half a mile from the Goodyear factories. The board was not convinced. The company felt that it was too risky to get involved in the intimate affairs of their employees. However, Seiberling was so committed to the project that he bought the land himself. Seiberling chose a rural plot of land just northeast of Goodyears main plant.
The median income in Goodyear Heights comes in at $39,030 and the median home value is $71,329 for 2019.
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Population: 5,835
Cost Of Living Index: 76.0 (3rd cheapest)
Home Value To Income Ratio: 1.9 (5th cheapest)
Rent To Income Ratio: 0.025 (15th cheapest)
More on Middlebury: Homes For Sale | Data
The median income in Middlebury comes in at $23,695 and the median home value is $43,900 for 2019.
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Population: 6,690
Cost Of Living Index: 78.0 (8th cheapest)
Home Value To Income Ratio: 2.1 (13th cheapest)
Rent To Income Ratio: 0.016 (7th cheapest)
More on Chapel Hill: Homes For Sale | Data
The median income in Chapel Hill comes in at $33,246 and the median home value is $69,880 for 2019.
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Population: 15,733
Cost Of Living Index: 79.0 (12th cheapest)
Home Value To Income Ratio: 1.8 (4th cheapest)
Rent To Income Ratio: 0.023 (13th cheapest)
More on Kenmore: Homes For Sale | Data
The median income in Kenmore comes in at $32,693 and the median home value is $60,435 for 2019.
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Population: 3,598
Cost Of Living Index: 76.0 (3rd cheapest)
Home Value To Income Ratio: 2.0 (8th cheapest)
Rent To Income Ratio: 0.029 (18th cheapest)
More on Summit Lake: Homes For Sale | Data
The median income in Summit Lake comes in at $21,995 and the median home value is $43,483 for 2019.
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Population: 6,037
Cost Of Living Index: 78.0 (8th cheapest)
Home Value To Income Ratio: 1.9 (6th cheapest)
Rent To Income Ratio: 0.026 (16th cheapest)
More on South Akron: Homes For Sale | Data
The median income in South Akron comes in at $28,818 and the median home value is $55,633 for 2019.
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Population: 7,617
Cost Of Living Index: 76.0 (3rd cheapest)
Home Value To Income Ratio: 1.9 (7th cheapest)
Rent To Income Ratio: 0.039 (21st cheapest)
More on University Of Ohio Akron: Homes For Sale | Data
The median income in University Of Ohio Akron comes in at $18,009 and the median home value is $34,986 for 2019.
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Population: 14,566
Cost Of Living Index: 80.0 (14th cheapest)
Home Value To Income Ratio: 2.0 (9th cheapest)
Rent To Income Ratio: 0.017 (9th cheapest)
More on Firestone Park: Homes For Sale | Data
Harvey Firestone embarked on creating a neighborhood with tree-lined boulevards curved around a central park. He saw families of different income levels living together in diverse styles of homes. He saw churches, schools and stores within walking distance. When Seiberling started on his ambitious housing initiatives in Goodyear Heights, Harvey Firestone did not want to be outdone. Like Seiberling, Firestone hired his estate landscape architect, Alling S. DeForest, to design the layout for Firestone Park. Akron officials have pushed the limits of the area beyond its original borders. City publications draw the park as far south as Firestone Country Club, annexed from Coventry Township in 1985. Firestone Park is located in south Akron, bordering Coventry Twp. Firestone has easy access to two expressways, Interstate 77 and Interstate 277 / U.S. Highway 224. The 2000 U.S. census can explain the attraction objectively. It paints a portrait of an educated working-class population with good incomes and home values. Firestone Park, a public park shaped like the original Firestone shield emblem, is at the heart of the community. It is surrounded by churches, a school, a community center, a new library, and a small business district.
The median income in Firestone Park comes in at $39,122 and the median home value is $78,442 for 2019.
Summing Up The Cheapest Places In Akron
If you’re measuring the neighborhoods in Akron where prices are low and it’s cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Akron aren’t all cheap. Lane-Wooster takes the title of the most expensive neighborhood to live in Akron.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Ohio reading, check out:
- 10 Cheapest Places To Live In Ohio
- 10 Best Places To Raise A Family In Ohio
- These Are The 10 Best Places To Retire In Ohio
- These Are The 10 Richest Cities In Ohio
- 10 Safest Places In Ohio
- 10 Worst Places To Live In Ohio
Detailed List Of The Cheapest Neighborhoods To Live In Akron For 2019
| Rank | Neighborhood | Cost Of Living Index |
|---|---|---|
| 1 | North Hill | 78.0 |
| 2 | Elizabeth Park Valley | 77.0 |
| 3 | Goodyear Heights | 79.0 |
| 4 | Middlebury | 76.0 |
| 5 | Chapel Hill | 78.0 |
| 6 | Kenmore | 79.0 |
| 7 | Summit Lake | 76.0 |
| 8 | South Akron | 78.0 |
| 9 | University Of Ohio Akron | 76.0 |
| 10 | Firestone Park | 80.0 |
| 11 | Northwest Akron | 87.0 |
| 12 | East Akron | 78.0 |
| 13 | Wallhaven | 86.0 |
| 14 | Merriman Valley | 84.0 |
| 15 | West Akron | 81.0 |
| 16 | Highland Square | 83.0 |
| 17 | Fairlawn Heights | 90.0 |
| 18 | Ellet | 83.0 |
| 19 | Downtown | 75.0 |
| 20 | Rolling Acres | 80.0 |
| 21 | Lane-Wooster | 78.0 |
