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Rental Insights for ZIP Code 44306 (Akron, OH)

Housing Rentals in ZIP Code 44306 (Akron, OH)

44306 ZIP Code in Ohio

Learn About Housing Rentals in the ZIP Code 44306

ZIP Code 44306 is primarily located in Akron, OH in Summit County. This Ohio region has an estimated median housing rent of $763 per month. Approximately 56.2% of housing units in the region are renter-occupied, and this this Summit County ZIP Code has an estimated rental vacancy rate of 5.4%.

The median rent in ZIP Code 44306 of $763 per month is 6% lower than the aggregate Ohio median monthly rent of $808, and is 28% lower than the $1,062 the median monthly rent in the U.S. overall. Approximately 68.7% of residents in ZIP Code 44306 pay between $500 and $999 per month for rent. That is 18% higher than in Ohio overall, in which 58.3% of total state residents pay between $500 and $999 per month for housing. Only 0.7% of ZIP Code 44306 renters pay between $1,500 and $1,999 for monthly rent.

ZIP Code 44306 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 44306

See the chart below for a comparison of monthly rental costs in ZIP Code 44306, Ohio, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 44306 along with those in the state of Ohio and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 44306

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 44306 Ohio U.S.
Less than $500 16.5% 13.5% 9.4%
$500 to $999 68.7% 58.3% 36.2%
$1,000 to $1,499 14.1% 22.3% 30.0%
$1,500 to $1,999 0.7% 4.1% 14.0%
$2,000 to $2,499 0.0% 1.0% 5.6%
$2,500 to $2,999 0.0% 0.3% 2.4%
$3,000 or more 0.0% 0.4% 2.4%

Rent Cost vs. Income in ZIP Code 44306

Renters in ZIP Code 44306 use an estimated 32.3% of their income to cover their monthly rent payments. That is about 13% higher than in Ohio overall. The estimate for Ohio overall is 28.47% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 44306 renters use about 8% more of their income to cover rent expense. Household income figures for ZIP Code 44306 come in lower than in Ohio as a whole. The median annual household income in ZIP Code 44306 of $31,264 sits approximately 45% lower than the overall Ohio median income of $56,602 and approximately 50% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 44306

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 44306, Ohio, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 44306 along with the same calculations in the state of Ohio and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 44306

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 44306 Ohio U.S.
Less than 15.0 percent 10.9% 15.9% 13.1%
15.0 to 19.9 percent 10.0% 14.5% 12.9%
20.0 to 24.9 percent 9.5% 13.0% 12.9%
25.0 to 29.9 percent 9.8% 11.7% 11.6%
30.0 to 34.9 percent 7.9% 8.4% 9.1%
35.0 percent or more 51.9% 36.4% 40.5%

Household Income in ZIP Code 44306

See the table below for the regional comparison of annual household income in ZIP Code 44306.

Income ZIP 44306 Ohio U.S.
Less than $10,000 15.6% 6.8% 6.0%
$10,000 to $14,999 8.6% 4.6% 4.3%
$15,000 to $24,999 18.1% 9.9% 8.9%
$25,000 to $34,999 12.2% 9.8% 8.9%
$35,000 to $49,999 18.2% 13.4% 12.3%
$50,000 to $74,999 15.3% 18.3% 17.2%
$75,000 to $99,999 5.9% 13.0% 12.7%
$100,000 to $149,999 4.6% 14.1% 15.1%
$150,000 to $199,999 1.5% 5.3% 6.8%
$200,000 or more 0.1% 4.9% 7.7%

Household Income in ZIP Code 44306

See the chart below for a comparison of annual household income figures in ZIP Code 44306, Ohio, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 44306 alongside the same figures for the state of Ohio and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 44306

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 44306.

ZIP 44306 Ohio U.S.
Median Housing Rent $763 $808 $1,062
Renter-Occupied Housing Units 56.2% 33.9% 36.0%
Rental Vacancy Rate 5.4% 5.3% 6.0%
Average Size of Renter-Occupied Unit 2.42 2.23 2.49
Average # of Bedrooms Per Unit 2.57 2.78 2.75
Percent of Income Spent on Rent 32.3% 28.47% 29.83%
Per Capita Income $17,245 $31,552 $34,103
Median Household Income $39,510 $76,958 $88,607
Living Below the Poverty Line 28.9% 9.9% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 44306

In ZIP Code 44306 (Akron, OH), and estimated 56.2% of housing units are occupied by renters. This region has an approximate rental vacany rate of 5.4%.

The per capita income in 44306 is estimated at $17,245, which goes along with an estimated median household income of $39,510. About 28.9% of residents in this Summit County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.42 occupants, while the units have an aggregate average size of 2.57 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 32.3% of their income on housing rental costs.

Rental FAQs for ZIP Code 44306

1

What is the median monthly rent in ZIP Code 44306?

Median rent for housing in ZIP Code 44306 in Summit County in Ohio is approximately $763 per month.
2

Is it expensive to rent in ZIP Code 44306?

Rent in ZIP Code 44306 is lower than average in the state of Ohio overall. The median monthly rent of $763 in ZIP Code 44306 is approximately 6% lower than the Ohio median of $808. Additionally, median rent in this Akron, OH region ($763) is about 28% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 44306?

High-priced rentals are not common in the Akron, OH ZIP Code of 44306, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Ohio overall, approximately 0.4% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 44306?

Affordable rentals are more common in ZIP Code 44306 than in Ohio overall. The percentage of housing rentals in ZIP Code 44306 costing $999 or less per month (85.2%) is approximately 19% higher than the Ohio rate of 71.8% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 87% lower than the previously mentioned 44306 rate of 85.2%.
5

What is the most common cost range that rentals fall into in ZIP Code 44306?

The most common range for rental cost in ZIP Code 44306 is between $500 and $999 per month. About 68.7% of renters in 44306 pay in this range for monthly rent. In comparison, approximately 58.3% of renters in the state of Ohio fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 44306 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 44306 is higher than the rental vacancy rate in the state of Ohio overall. Rental vacancy of 5.4% in ZIP Code 44306 is about 2% higher than the Ohio rate of 5.3%. Looking more broadly, rental vacancy in this Akron, OH region (5.4%) is an estimated 10% lower than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 44306? How does it compare to other Ohio regions?

Median household income in ZIP Code 44306 is lower than in the state of Ohio overall. Annual household income of $31,264 in ZIP Code 44306 is about 45% lower than the Ohio median of $56,602. Additionally, median household income in this Akron, OH region ($31,264) is approximately 50% lower than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 44306 spend on housing costs?

Renters in ZIP Code 44306 spend a higher amount of their income on rent costs than do renters in Ohio overall. Renters in ZIP Code 44306 spend an estimated 32.3% of their income on rent payments, which is about 13% higher than the overall Ohio estimated rate of 28.47%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 8% lower than the ZIP Code 44306 estimated rate of 32.3%.
9

Do renters in ZIP Code 44306 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 44306 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 44306 spending 30 percent or more of their income on rent costs (59.8%) is approximately 33% higher than the Ohio rate of 44.8% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 21% lower than the aforementioned 44306 rate of 59.8%.
10

What is the average household size of renter-occupied units in ZIP Code 44306?

The average household size of renter-occupied units in ZIP Code 44306 is higher than in the state of Ohio overall. Annual household size of 2.42 in ZIP Code 44306 is about 9% higher than the Ohio median of 2.23. Additionally, median household size in this Akron, OH region (2.42) is approximately 3% lower than median household size of 2.49 in the U.S. as a whole.

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