Housing Report for Akron

Akron had a median home value in the year 2005 of $141,100, according to the American Community Survey. This median is greater than the overall State of Ohio 2005 home median value of $129,600 and less than median home value of $167,500 across the United States during the same year.

In the State of Ohio, Akron stands 3 of the 12 metro areas in terms of percentage growth in new housing structures. The metropolitan statistical area (msa) ranks 263 of 361, compared to percent change of residential structures in other metropolitan areas throughout the United States.

There seems to be a fair amount of housing that is affordable in Akron, Ohio. In 2005, 41 percent of residential real estate was valued under $125,000.

In Akron, the real estate market was made up of 304,460 homes in 2005. The metro area has experienced a medium level of growth in the number housing units, adding a total of 9,822 housing units since the year 2001, or 3.3 percent.

Akron has a medium percentage of homes that are high in price. For 2005, the American Community Survey accounted that 2.3 percent of the homes were valued over $500,000.



Data Source: U.S. Census Bureau

Employment Report for Akron, Ohio -- Annual 2005 Industry Summary

Manufacturing since the year 2001 was faced with the largest loss in employment in the Akron Metropolitan Area. The industry was hit with a loss of 7,599 jobs during the period, or 13.4 percent of jobs in the industry. The losses in this industry made up 81.2 percent of all employment losses in the Metro Area.

An industry with high wages in Akron is the management of companies and enterprises industry with an average annual wage of $72,462. In the Metropolitan Area since the year 2001, the annual average wages in the industry have grown by 43.4 percent or $21,914. The State of Ohio shows the same employment climate in the management of companies and enterprises industry, falling at the top of industries in term of the average annual pay of 2004.

In Akron, Management of companies and enterprises, Utilities and Manufacturing are the three industries with the highest location quotients. The Management of companies and enterprises sector has a United State LQ of 3.11. The level of employment in the Management of companies and enterprises sector is 3.11 times the percent of the national average, This signifies that Akron may specialize, or be an exporter of Management of companies and enterprises.

Management of companies and enterprises has seen the highest growth in employment from the years 2001-2005 in Akron, moving a total of 170.4 percent. This is greater than the rate of employment change across the nation of 1.6 percent. The State of Ohio went through a industry job change of 22.5 percent, in the recent period of 2001-2005.

Management of companies and enterprises is the industry with the largest establishments in Akron Metro Area. The industry averages 107 jobs per place of business. This is greater than the industry's average at the national level of 40 and greater than the Ohio average establishment size of 71 for the Management of companies and enterprises industry.

In Akron, Manufacturing, Health care and social assistance, and the Retail Trade industries have the largest percent of jobs of all industries. The Manufacturing produces the largest number of jobs in the area accounting for 17.5 percent of all the jobs in the Metropolitain Area. This makes up 49,261 individuals. The Health care and social assistance and Retail Trade sectors account for 14.3 and 13.8 percent of all employment.





Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).