The City of Akron released a report Tuesday that lays out strategies for improving its housing quality. The Akron Housing Action Plan and Market Value Analysis takes a look at the city’s existing housing programs and suggests ways to fill the gaps, prompting more development and ensuring affordable, quality housing for Akron residents.
According to the report, created in collaboration with the Greater Ohio Policy Center and the Reinvestment Fund, the housing values in Akron have increased by 75% since 2017.
Neighborhoods that were identified as “deeply distressed” — the report notes West Hill and Sherbondy Hill — have stabilized, with home values increasing by $20,000 to $40,000. The report also states that foreclosure rates have been reduced by half since 2017, although this could be related to COVID-19-related mortgage assistance programs.
The strategic plan offers 23 recommendations that are separated into three categories:
- Enhancing existing neighborhoods
- Attracting, retaining and protecting residents
- Lowering barriers to development and redevelopment
“This information is timely and will be valuable to city staff as we implement housing programs, and will also assist our nonprofit development partners, builders, and lenders working in Akron,” said Mayor Shammas Malik in a press release.
Neighborhoods with housing values of less than $59K targeted
Many of these goals target markets with a market value analysis of $59,000 or less, including West Akron, Sherbondy Hills, Summit Lake, South Akron and East Akron. The market value analysis indicates what the researchers determined houses are valued at in an area.
In the short term, the recommendations focus on proactively maintaining Akron neighborhoods by holding homeowners and landlords accountable for their properties.
This includes:
- Enforcing building codes and health and safety codes in areas with above-average rates of code complaints
- Enforcing the city’s rental license program, which requires landlords to keep their properties in good repair to qualify for a license
- Collaborating with the Summit County Land Bank to demolish properties, while also investing resources into acquiring and rehabbing or building housing for households earning less than $180,000.
The long-term recommendation is a revolving loan fund for “local, small-time” landlords with a handful of properties.
The report suggests the city offer home repair grants like it did in 2022, when homeowners could apply for funds to pay for critical home repairs, such as new roofing, window installations and ADA accessibility work. The report also recommends a home repair and maintenance loan pool specifically for older adults with limited incomes.
Housing issues need an ‘all-hands-in-deck’ approach
“While the City of Akron will need to lead on many recommendations,” the report states, ”housing is a complex issue that requires an ‘all-hands-on-deck’ approach.” In the next one to three years, the report recommends local nonprofits provide resources and education on home maintenance. The Well Community Development Corporation is an example of a CDC helping prepare and support potential homeowners.
For renters, the report highlights the need to implement a “Right to Counsel” program that advocates for renters, “particularly Black and female tenants, who are often disproportionately represented among eviction filing.”
The plan also advises maintaining Akron’s residential tax abatement program — which exempts homeowners from paying the added taxes on new home construction or renovations for 15 years — and developing incentive programs, such as down payment assistance programs or grants for recent college graduates who decide to purchase a home.
Continued investment in walk and bike infrastructure is also a priority in the next few years, as a way to connect neighborhoods to job centers. Akron has already seen some of these changes in the form-based zoning codes used in Merriman Valley and Middlebury development plans. The zoning codes prioritize the preservation and restoration of greenspace.
