Akron does not draw beach crowds, but it does have lake weekends at Portage Lakes, trailheads into Cuyahoga Valley National Park, Blossom concerts, hospital stays and the Hall of Fame week down the road in Canton. A well-placed rental can book steadily if the numbers and the local rules both work.
In short: LendingStreet finances Akron-area short-term rentals with DSCR loans that can qualify on projected nightly-rental revenue on some programs instead of a long-term lease. Loans start at $150,000, purchases go up to 80% LTV, the standard minimum DSCR is 1.0x and the minimum credit score is 620. Before you buy, confirm the property can legally run as a rental under 30 days under City of Akron or township rules and any HOA covenants.
Demand around Akron comes from a handful of clear sources, and the best properties sit close to one of them. Portage Lakes, split among Akron, New Franklin and Coventry Township, draws summer boaters and family groups. Peninsula, Boston Heights and the edges of Cuyahoga Falls put guests minutes from Cuyahoga Valley National Park trails and the towpath.
Inside the city, Highland Square and Merriman Valley appeal to visitors who want walkable restaurants, while homes near Akron Children's Hospital, Summa and Cleveland Clinic Akron General attract patient families and traveling medical staff who often book 30 days or longer.
Rules differ by municipality across Summit County, so the address matters more than the metro. Check the City of Akron zoning code and any registration requirements for the specific parcel, or the township or village rules if the home is in Coventry, Bath, Copley or Peninsula. Lodging excise taxes can apply to stays under 30 days, and who collects them depends on the booking platform and the local ordinance.
Ohio also asks owners of residential rental property to register with the county auditor, which in Summit County is the Fiscal Office. Condo associations and newer subdivisions in Hudson, Stow and Green often prohibit rentals under 30 days. If the covenants or zoning do not allow nightly stays, the loan has to be underwritten on a long-term lease instead.
Akron is a summer-and-fall market. June through October carries lake traffic, concerts at Blossom Music Center, Hall of Fame Enshrinement week in early August and fall color in the valley. University of Akron move-in, graduation and home football add short bursts.
January through March is slow, and snow can keep lake properties quiet for weeks. Projections that show flat occupancy all year deserve a second look. A strong file shows month-by-month revenue, and many Akron hosts fill winter with 30-day stays for traveling nurses and contractors.
On some programs, the DSCR is calculated on projected short-term rental revenue, often from a third-party revenue projection, rather than a signed 12-month lease. Programs differ in how they treat the projection and expenses, and a low third-party number can be addressed (see our guide to low AirDNA projections).
Comparable data matters. A lake house in Portage Lakes should be compared with other lake houses, not with a Highland Square bungalow, and a valley cabin with other properties near the park. Ask for comps that match bedroom count, water access and distance to the draw.
This example is illustrative and not a quote. An investor buys a three-bedroom lake-area home in New Franklin for $245,000. A third-party projection estimates $40,800 a year in nightly revenue, about $3,400 a month.
At 75% LTV the loan is $183,750. Estimated principal and interest is about $1,285, taxes are budgeted at $395 and a short-term rental insurance policy at $195, for a total payment of about $1,875. On the full projection, DSCR is about 1.81x. If revenue came in 20% lower, at about $2,720 a month, DSCR would still be about 1.45x.
| Item | Full projection | Projection less 20% |
|---|---|---|
| Purchase price | $245,000 | $245,000 |
| Loan at 75% LTV | $183,750 | $183,750 |
| Estimated principal and interest | $1,285 | $1,285 |
| Taxes and insurance | $590 | $590 |
| Total monthly payment | $1,875 | $1,875 |
| Monthly revenue used | $3,400 | $2,720 |
| DSCR | 1.81x | 1.45x |
Ohio assesses real property at a 35% assessment ratio of the county's appraised value, and the Summit County Fiscal Office reappraises on a six-year cycle with an update in between. Tax rates vary a lot by school district, so a home in Akron City Schools and one in Coventry or Revere can carry very different bills at the same price.
Use the current tax duplicate for the parcel, not a listing estimate, and budget for a higher bill if a recent sale or reappraisal is likely to raise the value.
Short-term rentals need a policy written for nightly guests; a standard landlord policy may not cover it. Lake properties may need flood coverage if they sit in a mapped zone, and docks and boat lifts can raise premiums.
Lenders look at the rental as a business, so plan reserves for furniture, cleaning, snow removal and the slow months. A home that only works at peak-season rates is a thin file.
If you bought with cash or a short-term loan and now have a booking history, a DSCR refinance can use actual revenue on some programs. Cash-out goes up to 75% LTV, and seasoning varies by program. See our guide to STR DSCR refinances, or start with the Ohio short-term rental page for statewide context.
Yes, if the property can legally operate as a rental under 30 days at that address. Check City of Akron or township zoning, any registration, lodging taxes and HOA covenants. If nightly stays are not allowed, we can underwrite on a long-term lease instead.
Properties near a clear draw: Portage Lakes, Cuyahoga Valley National Park and Blossom, Highland Square and the hospital corridors. Results vary by property, so look at comps that match the location type.
On some programs, a purchase can qualify on projected short-term revenue. On a refinance, actual booking history can be used on some programs.
The projection should reflect them. Lenders look at annual revenue, but a file that shows realistic winter months, or 30-day stays to fill them, is easier to approve.
$150,000. On lower-priced Akron homes, that may mean a larger property, a lake home or pairing the purchase with other rentals.
Yes. LLC borrowers are standard, and you sign for the loan personally as required by the program.
No. The loan qualifies on the property's revenue and the DSCR, with a 620 minimum credit score.
No. Our investor loans are business-purpose loans on non-owner-occupied property, so the home has to be a rental, not a second home for your own use.
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