First-time homebuyers in Akron, Ohio may soon receive up to $7,500 to put toward down payments and closing costs, as part of a new housing initiative announced by Mayor Shammas Malik. The program is part of a broader effort to make homeownership more accessible, particularly for working families in a city grappling with rising homelessness.
Tackling Housing Challenges
Homelessness in Akron has surged 300% since the pandemic, highlighting deep challenges in the local housing market. Mayor Malik emphasized that homeownership should not be reserved for the wealthiest residents. “It should be in reach of everyone who chooses it, especially working families,” he said during his State of the City address at the Akron Civic Theatre on May 19.
The down payment assistance program is set to launch this summer. Eligible residents who meet income limitations will be able to claim financial support of up to $7,500, easing one of the biggest barriers to buying a home.
The “Plan of the People”
The funding initiative is just one of nine community proposals unveiled by city officials, collectively referred to as the “Plan of the People.” The proposals also include updating zoning codes to allow for communities of tiny homes, offering low-cost repair loans to homeowners, and establishing stronger civil enforcement tools for housing code violations.
One proposed measure would strengthen the rental registry system, ensuring landlords address housing issues before bringing in new tenants. Delegate Talecher Love explained to The Sun that landlords will still be able to screen applicants, but they must also consider factors such as past criminal activity only where it relates to housing safety.
Addressing Longstanding Problems
Another key focus is tackling mold violations in apartments. Malik pointed out that some management companies simply clean visible mold without addressing the underlying moisture problem, allowing it to return. “This is an issue that our neighbors at Spring Hill have experienced all too well and all too frequently for many years,” he said.
The program and associated proposals aim to create a more equitable and safer housing market in Akron, offering first-time buyers a chance to own a home while addressing longstanding structural and health-related issues in rental and owned properties.
Looking Ahead
As Akron prepares to roll out the assistance program, city officials encourage eligible residents to stay informed and ready to apply. The $7,500 support could make the difference for thousands of families trying to secure their first home in a city where affordable housing has become increasingly difficult to find.
