Side-by-side comparison of Akron, OH and Cleveland, OH — cap rates, rent, prices, and investment metrics.
Cash flow: Cleveland has the edge with an estimated cap rate of 4.02% compared to Akron's 3.64%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $230,000 in Akron vs $240,000 in Cleveland, while rents come in at $1,240/mo and $1,390/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.
Growth & appreciation: Cleveland is growing faster at -0.1% annually, while Akron is losing population. Cleveland leads on home value appreciation at 2% per year.
Costs & risk: Property taxes are 1.58% in Akron vs 1.63% in Cleveland. Vacancy rates of 7% and 7.2% are mixed — Akron has the tighter rental market.
Entry point: Akron offers a lower entry at $230K vs Cleveland's $240K — a difference of $10K. With a 20% down payment, that's $46K vs $48K. Cleveland's higher price may be justified by stronger growth.
Bottom line: Cleveland edges out Akron on most key metrics. While cap rates are moderate at 4.02%, Cleveland's overall profile is stronger. Use our free calculators to model specific deals in Akron or Cleveland.