Akron, Ohio is about 30 miles south of Cleveland City and is the fifth-largest city in the U.S. state of Ohio, it has a population of over 700,000.
As property investment surges in Cleveland investors are now looking slightly further a field to try and get more value for their dollars.
Akron has not always been on the investor’s radar but now it is seen as a hidden gem in the Great Lakes region of Cleveland.
Akron is a city undergoing expansion, tire companies, real estate developers and government agencies have announced more than $1 billion in investments in Akron.
Akron is home to many large corporations who are centred around high-tech research and development, which include WGC-Bridgestone Invitational, Stan Hywet Hall and Gardens, Akron City Hospital and the Goodyear Polymer Center.
There is a city-wide plan to spur residential growth which was developed after analysing Akron housing and researching programs in Cleveland, Columbus and Pittsburgh.
NBA star LeBron James and his foundation have opened a new school in his hometown of Akron and Mayor Dan Horrigan released the City’s plan for spending “Issue 4” funds in 2018. The budget outlines a plan for more than $13 Million in increased investment in police and fire protection and roadway improvements in Akron.
Akron is less expensive than Cleveland making it a very desirable option for investors who want to enter the US housing market at a low entry level
Akron: an incredible city and a prime investment opportunity
Akron is a city full of surprises with much to offer jobseekers, families and students. Did you know that the hamburger was supposedly invented here in Akron? Not only that, but its long history of rubber and tire manufacturing have also led it to be known as the “Rubber Capital of the World”. And if that wasn’t enough, the city was also once known as the centre of airship development.
Akron’s past is just as interesting as its present. In the 1910s, the city’s population actually doubled, and this made it the nation’s fastest growing city. Still today, people flock to Akron and fall in love with what this city has to offer, providing plenty of opportunities for those looking to invest in property.
In the 2000s, Akron became known as the City of Invention, having been named by Newsweek as the fifth highest-ranking hi-tech haven in 2001. Between 2000 and 2007, the city’s research into polymers gained international interest, and many view the city as an educational and intellectual hub today. These factors make Akron a popular choice for new residents and, as a result, a smart choice for investors.
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