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 requirements that typically allow short-term rentals in residential areas with certain restrictions on occupancy and parking. Obtain necessary permits including a business license ($25-50 annually), ensure your property meets fire safety codes, and verify compliance with Summit County health department requirements for rental properties. Find a suitable property by analyzing Akron's popular neighborhoods like Highland Square, Wallhaven, or downtown areas near the University of Akron, considering proximity to attractions like the Akron Art Museum, Canal Park, and Stan Hywet Hall, with average nightly rates ranging $60-120 depending on location and amenities. Furnish the property with essential amenities including reliable Wi-Fi, comfortable bedding, basic kitchen supplies, and local guidebooks, budgeting approximately $3,000-8,000 for initial furnishing depending on property size. List your property on Airbnb and other platforms like VRBO, creating compelling descriptions that highlight Akron's attractions and your property's unique features, with professional photography being crucial for bookings. Manage your Airbnb by establishing cleaning protocols between guests, implementing keyless entry systems, maintaining responsive communication with guests, setting competitive pricing based on local market rates and seasonal demand around University of Akron events, and keeping detailed records for tax purposes as Ohio requires collection of state sales tax (5.75%) plus local lodging taxes that may apply in Summit County.

To identify profitable short-term rental properties in Akron, Ohio, focus on locations near the University of Akron campus, downtown business district, and major attractions like the Akron Art Museum and Canal Park, as these areas generate consistent demand from students, business travelers, and tourists. Target properties with 2-4 bedrooms, modern amenities, parking availability, and unique features like historic charm or proximity to hiking trails in the Cuyahoga Valley National Park area, as Akron's average STR rates range from $75-150 per night depending on location and property type. Conduct pricing analysis using AirDNA and Mashvisor to evaluate comparable properties, aiming for properties under $150,000 that can achieve 60%+ occupancy rates and generate $2,000-4,000 monthly revenue. Research competition by analyzing existing Airbnb and VRBO listings within a 3-mile radius, identifying gaps in amenities or underserved neighborhoods, while monitoring seasonal trends as Akron sees higher demand during university events and summer months. Utilize tools like Rabbu, BiggerPockets calculators, and local MLS data through Zillow and Realtor.com, while consulting with Akron-based property management companies like RedAwning or local real estate agents familiar with STR regulations, as Summit County has specific zoning requirements and registration processes that vary by municipality within the greater Akron area.

To obtain an Airbnb/STR permit in Akron, Ohio, you must first contact the Akron Planning and Urban Development Department at 166 S High Street or call 330-375-2490 to determine if short-term rentals are permitted in your specific zoning district, as Akron requires conditional use permits for STRs in most residential areas. Submit an application for a Conditional Use Permit along with a site plan showing the property layout, proof of property ownership or lease agreement, a detailed operating plan describing guest capacity and parking arrangements, and pay the application fee of approximately $200-400. You'll also need to obtain a business license from the City of Akron Finance Department for around $25-50 annually, register for city income tax collection, and secure a certificate of occupancy from the Building Division after a safety inspection. Additionally, provide proof of liability insurance (minimum $1 million), contact information for a local property manager if you live more than 50 miles away, and demonstrate compliance with parking requirements (typically one space per bedroom). The approval process typically takes 30-60 days including a public hearing before the Planning Commission, and once approved, you must renew your permits annually and maintain compliance with occupancy limits, noise ordinances, and regular safety inspections.

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 issues. Recent changes have included stricter enforcement of existing regulations and enhanced penalties for violations, with the city conducting more frequent inspections to ensure compliance. Properties in historic districts and certain residential zones face additional restrictions, and operators must register their properties with the city annually while paying applicable taxes including lodging taxes that mirror those imposed on traditional hotels.

The best Airbnb investment areas in Akron, Ohio include Downtown Akron near the Civic Theatre and Canal Park, which attracts business travelers and visitors to entertainment venues and sporting events. The Highland Square neighborhood is highly desirable due to its walkable arts district, local restaurants, and proximity to the University of Akron, drawing both tourists and visiting families. The Wallhaven/Merriman Valley area offers appeal to visitors seeking historic charm and access to the Cuyahoga Valley National Park for outdoor recreation. North Hill, with its diverse cultural scene and ongoing revitalization efforts, presents opportunities for budget-conscious travelers while still being close to downtown attractions. The Firestone Park area benefits from its proximity to major employers like Summa Health and provides good value for extended-stay business travelers, while the West Akron/Fairlawn border area captures overflow from higher-end business travel due to its access to corporate centers and shopping destinations.

In Akron, Ohio, Airbnb hosts are subject to multiple lodging taxes including the state of Ohio's 5.75% lodging tax and Summit County's 3% bed tax, totaling 8.75% in combined lodging taxes on short-term rental stays. The City of Akron also imposes a local lodging tax of approximately 6%, bringing the total tax burden to around 14.75% for guests. These taxes are typically collected by Airbnb directly from guests at the time of booking through their automatic tax collection service, which began around 2018-2019 for Ohio jurisdictions. Airbnb remits these taxes quarterly to the appropriate state and local tax authorities on behalf of hosts. However, hosts may still need to register with the Ohio Department of Commerce and local tax authorities to ensure compliance, and some smaller jurisdictions may require manual collection and remittance. Exemptions generally apply to stays exceeding 30 consecutive days, which are considered long-term rentals rather than transient lodging, and certain government or non-profit related stays may qualify for exemptions under specific circumstances.

The total cost to start an Airbnb in Akron, Ohio is approximately $185,000-$225,000. Property purchase costs around $120,000-$150,000 based on median home prices in Akron as of 2023-2024. Furnishing a 2-3 bedroom property runs $15,000-$25,000 including furniture, appliances, linens, and décor. Initial setup costs including professional photography, listing creation, and basic renovations total $3,000-$5,000. Permits and fees including business license, short-term rental permit, and inspection fees cost approximately $500-$1,500. Insurance including landlord and short-term rental coverage runs $2,000-$3,000 annually. Utilities including electricity, gas, water, internet, and cable average $300-$400 monthly or $1,800-$2,400 for six months. First six months operating costs including cleaning services, supplies, maintenance, property management software, and marketing total $8,000-$12,000. Additional considerations include closing costs on the property purchase adding another $3,000-$5,000, and potential HOA fees if applicable at $100-$300 monthly.

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 proximity to major attractions like the Akron Art Museum, competitive pricing during peak seasons (summer months and university events), professional photography, and maintaining superhost status through consistent 4.8+ ratings. 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 with occupancy rates of 65-75% annually. Initial investment recovery and profitability generally occurs within 18-24 months for well-positioned properties, with average property acquisition costs of $80,000-150,000 requiring renovations of $15,000-25,000 to meet short-term rental standards. The market benefits from business travelers visiting Akron's corporate headquarters including Goodyear, FirstEnergy, and medical facilities, plus university-related demand, though seasonal fluctuations occur with lower winter occupancy of 45-55% compared to summer peaks of 80-85%.

STRSearch is a national platform that specializes in identifying profitable short-term rental properties for investors in Akron, Ohio. Local real estate agents like Keller Williams Greater Metropolitan and Howard Hanna Real Estate Services have agents experienced in investment properties and Airbnb markets in the Akron area. National services include Mashvisor, which provides Airbnb analytics and property search tools, and AirDNA for market data analysis. BiggerPockets connects investors with local professionals, while Roofstock focuses on turnkey rental properties. Local companies such as Akron Investment Properties and Summit County Real Estate Investors Group provide market expertise. Additional services include RedAwning for property management insights, Awning for short-term rental property loans, and local property management companies like Rent Akron and Summit Property Management that can assist with Airbnb operations once properties are acquired.