| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 27th | Poor |
| Amenities | 36th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 37 Byers Ave, Akron, OH, 44302, US |
| Region / Metro | Akron |
| Year of Construction | 1981 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
37 Byers Ave Akron Multifamily Value-Add Potential
Renter demand is supported by a high neighborhood renter concentration and improving occupancy, according to WDSuite’s CRE market data, suggesting steady leasing fundamentals in Akron’s inner-suburb location. Neighborhood metrics reference the area, not the property, and point to stable operations with room for targeted upgrades.
The property sits in an Inner Suburb of Akron where neighborhood-level occupancy has improved over the last five years, indicating firmer leasing conditions for operators. Renter-occupied housing comprises a large share of area units (63.3%), signaling a deeper tenant base for multifamily assets and supporting demand stability.
Everyday convenience is reasonable: amenity coverage is above the metro median among 180 Akron neighborhoods, with grocery access landing in the top quartile nationally and parks coverage also ranking in the top quartile. Restaurant density trends around the national midpoint, while cafes, childcare, and pharmacies are relatively sparse, which may modestly affect walk-to conveniences.
Relative affordability is mixed. Median contract rents in the neighborhood sit on the lower end nationally, but the local rent-to-income ratio is elevated, which can introduce affordability pressure and heighten retention and collections management considerations. Median home values are low versus national norms, which can create some competition from ownership but also expands the pool of households relying on rental options in this submarket.
Within a 3-mile radius, recent trends show a small increase in total households even as prior population counts dipped, implying smaller household sizes and a gradual shift in housing demand toward rentals. Forward-looking 3-mile projections point to household growth through 2028, supporting a larger tenant base and sustaining occupancy for professionally managed communities. These dynamics align with investment screening priorities surfaced by multifamily property research.
Safety conditions in the neighborhood trail both metro and national benchmarks. The area ranks in the lower half among 180 Akron neighborhoods, and national percentiles indicate lower comparative safety (property crime and violent crime sit in lower national percentiles). Year-over-year estimates point to a recent uptick in violent incidents. Investors typically plan for prudent on-site measures, resident screening, and partnerships with local resources to support operations and tenant retention.
The location draws on a diversified employment base that supports renter demand and commute convenience, led by utilities, manufacturing, logistics, and consumer goods anchors. Nearby employers include FirstEnergy, Goodyear Tire & Rubber, Norfolk Southern, Erie Insurance Group, and a Home Depot distribution facility.
- FirstEnergy — utilities (1.4 miles) — HQ
- Goodyear Tire & Rubber — manufacturing & corporate (4.1 miles) — HQ
- Norfolk Southern Motor Yard — rail logistics (16.8 miles)
- Erie Insurance Group — insurance offices (17.9 miles)
- Home Depot Distribution Center — distribution (20.3 miles)
Built in 1981, the asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older inventory and potential value-add through targeted renovations and systems modernization. Neighborhood occupancy has trended higher and the renter share is substantial, supporting depth of tenant demand. According to CRE market data from WDSuite, neighborhood-level rents lean affordable by national standards, yet rent-to-income ratios indicate affordability pressure that owners should manage through leasing strategy and renewal planning.
Within a 3-mile radius, household counts have increased and are projected to grow further by 2028, pointing to a larger renter pool that can support occupancy stability and leasing velocity. Amenity access is serviceable with strong grocery and park availability, and proximity to anchor employers broadens the resident demand funnel. Operators should weigh the benefits of workforce-oriented demand and value-add upside against local safety considerations and income sensitivity.
- 1981 vintage offers value-add and modernization potential versus older nearby stock
- High neighborhood renter-occupied share supports a deeper tenant base and steady leasing
- 3-mile household growth outlook supports occupancy stability and retention
- Grocery and park access rank strong nationally, aiding livability and leasing
- Risks: below-average safety metrics and elevated rent-to-income ratios require disciplined operations