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Monday, May 16, 2011

Akron a Top Ten Worst City for Renters

Posted By on Mon, May 16, 2011 at 10:00 AM

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Northeast Ohio has held down top spots on an array of depressing lists in the past few years. No one seems to care that we have a #happyinCle hashtag, a veritable bounty of gourmet hot dog options, or a moderately sized skyscraper that is lit in different colors every once in awhile. No, everyone seems much more preoccupied with poverty, education, crime, housing, and other depressing topics in which Cleveland and Akron don't fare well.

Here's another entry on the Debbie Downer list
, courtesy of Bloomberg Business Week: Akron is one of the top ten worst cities for renters in the country. It's not that there aren't affordable joints in the Ak-rowdy, it's that folks looking to rent in Akron aren't making enough. As the piece rankings intro points out, "Over the past few decades, rental affordability has become a widespread problem in the U.S. as rent levels grew faster than renter income. Nearly half of renters pay more than 30 percent of their monthly income for rent, including 26 percent that pay more than 50 percent of income, according to a new report by Harvard University's Joint Center for Housing Studies."

The list shines a light on ten cities where dwellers are paying more than half their income in rent. You're on, Akron:

No. 6 Metro: Akron, Ohio

Renter households with severe cost burdens: 31.8%
Median gross rent: $740
Median utilities cost for renters: $160
Median household income for renters: $26,100

Census data show that the populations of Akron city and Summit County have both decreased in the past 10 years. Meanwhile, the area's economy has grown little, with real gross domestic product increasing by only 5.2 percent from 2001 to 2009, according to figures from the U.S. Bureau of Economic Analysis. Harvard's study estimates that real median household income in the metro declined by 14.9 percent from 2000 to 2009.

Well, at least you still have the Black Ke...

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