Is Akron, Ohio Good for Airbnb Investment?

To start an Airbnb in Akron, Ohio, begin by researching local regulations as Akron requires short-term rental operators to obtain a business license through the City of Akron's Department of Public Service and comply with zoning ordinances that may restrict rentals in certain residential areas. Contact the Summit County Health Department for any required health permits and ensure compliance with Ohio state tax requirements including the 5.75% sales tax on lodging. Find a suitable property by researching neighborhoods like Highland Square, Wallhaven, or downtown areas that attract visitors to the University of Akron or business travelers, ensuring the property meets safety codes including smoke detectors, carbon monoxide detectors, and proper egress windows. Furnish the space with quality basics including comfortable bedding, essential kitchen appliances, WiFi, and local guidebooks highlighting Akron attractions like the Akron Art Museum or Cuyahoga Valley National Park. Create your listing on Airbnb with professional photos, competitive pricing around $75-120 per night based on local market rates, and detailed descriptions emphasizing proximity to downtown or university areas. Manage your property by establishing cleaning protocols between guests, maintaining responsive communication, implementing keyless entry systems, and considering hiring local cleaning services or property management companies if needed while staying current with Akron's evolving short-term rental regulations and tax obligations.

To identify profitable STR properties in Akron, Ohio, focus on locations near the University of Akron campus, downtown Akron's revitalized arts district, and neighborhoods like Highland Square and Wallhaven that attract young professionals and visitors. Target 2-4 bedroom properties built after 1950 with updated kitchens, reliable WiFi capability, parking availability, and unique character features that photograph well for listings. Conduct pricing analysis using AirDNA and Mashvisor to evaluate average daily rates ($75-120 range typical for Akron market) and occupancy rates (aim for 65%+ annually), while analyzing seasonal demand patterns around university events, Akron Marathon, and summer festivals. Research competition by examining existing Airbnb and VRBO listings within 2-mile radius, identifying gaps in amenities or property types, and monitoring pricing strategies of top-performing hosts. Utilize tools like Rabbu and AllTheRooms for market analysis, partner with local property management companies familiar with Akron's rental regulations, connect with real estate agents specializing in investment properties near University of Akron, and leverage the Akron Visitors Bureau data to understand tourism patterns and major event calendars that drive short-term rental demand in the area.

To obtain an Airbnb/STR permit in Akron, Ohio, you must first contact the City of Akron's Planning and Urban Development Department at 166 S High Street or call 330-375-2552 to begin the application process. Required documents typically include a completed short-term rental application form, proof of property ownership or lease agreement, floor plan of the rental unit, proof of liability insurance (minimum $1 million), contact information for a local representative if you're an absentee owner, and a site plan showing parking availability. The application fee is approximately $150-200 with an annual renewal fee of around $100. You'll need to schedule an inspection with the Building Division (330-375-2020) which costs about $75-100, and the property must meet all building, fire, and safety codes including smoke detectors, carbon monoxide detectors, and proper egress windows. The timeline is typically 4-6 weeks from application submission to permit approval, assuming no issues arise during inspection. Akron requires STR operators to maintain a guest registry, limit occupancy to no more than 2 people per bedroom plus 2 additional guests, provide adequate parking (typically 1 space per bedroom), and ensure the property doesn't violate any homeowner association rules or deed restrictions. Once approved, you must display your permit number in all online listings and renew annually by December 31st.

Short-term rentals (STRs) are legal in Akron, Ohio, but operate under specific regulations established by the city. As of 2023, Akron requires STR operators to obtain a business license and comply with zoning restrictions that generally limit short-term rentals to certain residential districts while prohibiting them in some neighborhoods to preserve residential character. The city has implemented safety requirements including smoke detectors, carbon monoxide detectors, and fire extinguishers, along with occupancy limits based on property size. STR operators must also comply with parking requirements, noise ordinances, and maintain a local contact person available 24/7 for any issues. Recent changes have included stricter enforcement of existing regulations and enhanced penalties for non-compliance, with the city conducting more frequent inspections to ensure properties meet safety and zoning standards. Properties in historic districts may face additional restrictions, and operators are required to collect and remit local taxes on rental income.

The best Airbnb investment areas in Akron, Ohio include Downtown Akron near the Akron Civic Theatre and Canal Park, which attracts business travelers, sports fans attending RubberDucks baseball games, and visitors to entertainment venues. Highland Square is highly desirable due to its walkable neighborhood with local restaurants, bars, and proximity to the University of Akron, drawing both leisure tourists and university visitors. The Wallhaven/Firestone Park area offers good value with its historic homes and accessibility to major employers like Summa Health and FirstEnergy, making it popular with business travelers and medical professionals. Goodyear Heights provides affordable investment opportunities while still being close to Goodyear's headquarters and other corporate facilities, attracting extended-stay business guests. The Merriman Valley/Cuyahoga Valley National Park vicinity is excellent for nature tourism, offering access to hiking trails, the Ohio & Erie Canal Towpath, and outdoor recreation activities that draw weekend visitors and vacation rental guests year-round.

In Akron, Ohio, Airbnb hosts are subject to multiple lodging taxes including the state of Ohio's 5.75% lodging tax on stays under 30 days, Summit County's 3% bed tax, and Akron's local lodging tax of approximately 3%, resulting in a combined rate of around 11.75% on short-term rental bookings. These taxes are typically collected by Airbnb directly from guests at the time of booking and remitted to the appropriate tax authorities on behalf of hosts, though hosts should verify their registration status with the Ohio Department of Taxation and Summit County fiscal office. The state lodging tax applies to all stays under 30 consecutive days, while county and local taxes generally follow similar duration thresholds, with exemptions typically available for stays exceeding 30 days which are considered long-term rentals rather than transient lodging. Hosts must obtain proper business licenses and may need to register for tax collection purposes even when Airbnb handles remittance, and should maintain records of all bookings and tax collections for compliance purposes with both state and local tax authorities.

Starting an Airbnb in Akron, Ohio requires approximately $95,000-$125,000 in total initial investment. Property purchase costs average $85,000 based on Akron's median home price as of 2023. Furnishing a 2-3 bedroom property typically runs $8,000-$12,000 including furniture, appliances, linens, and décor from retailers like IKEA, Wayfair, and local stores. Initial setup costs including professional photography, listing creation, and basic renovations total around $2,500-$4,000. Permits and fees vary but expect $300-$800 for business licenses, short-term rental permits, and city registration requirements. Insurance including landlord coverage and short-term rental protection averages $1,200-$1,800 annually. Utility setup and deposits for electricity, gas, water, internet, and cable run approximately $500-$800 initially. First six months operating costs including utilities ($200/month), cleaning services ($75 per turnover), maintenance reserves ($150/month), platform fees (3% of bookings), and marketing budget total roughly $3,500-$5,500, assuming 60-70% occupancy rates typical for Akron's market.

Airbnb properties in Akron, Ohio typically generate annual revenues between $15,000-$35,000 for entire homes and $8,000-$18,000 for private rooms, with average daily rates ranging from $65-$120 depending on location and property type. Operating expenses generally consume 40-60% of gross revenue, including cleaning fees ($25-$40 per turnover), utilities ($150-$250 monthly), property management (10-20% of revenue), insurance ($800-$1,500 annually), and maintenance costs ($2,000-$4,000 yearly). Properties near the University of Akron and downtown areas achieve higher occupancy rates of 60-75% compared to suburban locations at 45-60%, with successful hosts reporting net profit margins of 15-25% after all expenses. Key success factors include strategic pricing during university events and football seasons, professional photography, rapid guest communication, and maintaining properties within 10 miles of major attractions like the Akron Art Museum and Canal Park. A typical 3-bedroom home purchased for $80,000-$120,000 in neighborhoods like Highland Square or Wallhaven can generate $20,000-$28,000 in annual revenue with expenses around $12,000-$16,000, yielding net profits of $8,000-$12,000 annually, representing a 7-12% return on investment when factoring in property appreciation and tax benefits.

Airbnb investments in Akron, Ohio typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10% based on current market conditions. Properties in downtown Akron near the University of Akron and Goodyear headquarters command higher nightly rates of $75-120, while suburban locations average $60-90 per night. Initial investment costs are relatively low with median property prices around $85,000-150,000, requiring approximately $25,000-45,000 down payment plus $15,000-25,000 in renovation costs for short-term rental readiness. Most investors achieve profitability within 18-24 months, with occupancy rates averaging 65-75% annually due to business travelers, university visitors, and tourists exploring the Cuyahoga Valley National Park area. The market benefits from Akron's growing healthcare sector with Summa Health and Cleveland Clinic Akron General driving consistent demand, while seasonal fluctuations occur during university events and summer tourism periods, with peak months generating 20-30% higher revenues than off-season periods.

STRSearch is a leading national platform that helps investors identify profitable short-term rental properties in Akron, Ohio, using data analytics and market insights. Local real estate agents specializing in Airbnb investments in Akron include Keller Williams Greater Metropolitan, Howard Hanna Real Estate Services, and RE/MAX Edge Realty, with agents like those at Cutler Real Estate focusing on investment properties since 2018. National services include Awning (launched 2019), which provides full-service Airbnb investment management, RedAwning for vacation rental property sourcing, and Mashvisor, a real estate analytics platform that has been helping investors since 2016 analyze Airbnb profitability. Local property management companies like Summit County Property Management and Akron Property Solutions offer services to help investors maximize their short-term rental returns, while national companies such as AvantStay and Vacasa provide comprehensive Airbnb management services in the Akron market. Additional resources include BiggerPockets for networking with local investors, AirDNA for market data analysis, and local real estate investment groups like the Akron Real Estate Investors Association, which has been connecting investors since approximately 2015.