How has pricing changed in Summit Lake, Akron, Ohio over the past year?

Prices in Summit Lake, Akron, Ohio are up 13.6% over the past year. The neighborhood is priced in line with Akron and about 30% below Ohio, with a gross yield of 10.4, a Red Flag score of 32, and walkability of 54.

How does Summit Lake compare with Akron and Ohio?

Summit Lake, Akron, Ohio is priced in line with Akron and about 30% below Ohio. It also has a gross yield of 10.4, prices up 13.6% over the past year, a Red Flag score of 32, and walkability of 54.

What should buyers know about schools in Summit Lake, Akron, Ohio?

Education in Summit Lake, Akron, Ohio is in the 8th percentile, which is a low objective percentile reading. The neighborhood also has a gross yield of 10.4, prices up 13.6% over the past year, a Red Flag score of 32, and walkability of 54.

Neighborhood

Summit Lake

Akron, Ohio US

Summit Lake, Akron, Ohio has a value-oriented investment profile with pricing in line with Akron and about 30% below Ohio, a gross yield of 10.4, and prices up 13.6% over the past year. The main strength is the high yield, while the main risk is a Red Flag score of 32 and education in the 8th percentile. Walkability is 54.

AI Summary•Updated May 2026

Area

1.19 mi²

ZIP Code

44301

County

Summit County

State

Ohio

Redfin — median sale & volumeZillow ZORI — asking rentFEMA National Risk Index v1.20OpenStreetMap — POIFBI UCR — state crimeEPA — radon zonesWashU ACAG — satellite PM2.5EPA FRS / BTS — hazard screeningUS Census ACS / TIGER 2024

Verified Price · Median Sale

$133,710

YoY+13.6%

Gross Rental Yield

10.4%

Listed rent · ZORI annualized

Red Flag Index

Low

32 / 100

Walkability Score

Somewhat Walkable

OpenStreetMap POI density · national percentile

Education Score

8 / 100

Limited · better than 8% of U.S. districts

Pre-pandemic SEDA (2018/19) · district proxy

AI Score

Excellent

DistrictScore attractiveness · national model

Summit Lake Property Prices & Rental Yield

Verified Redfin sale data and Zillow ZORI asking rent for Summit Lake, Akron.

Unlock the Summit Lake 12-month price trend

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Market Economics Snapshot

May 2026

Metric	Value	YoY
Median Sale Price	$133,710	+13.6%
Price / Sq Ft (Verified)	$119/sqft	+1.0%
Asking Rent (Median)	$1,155/mo	+4.9%
Gross Rental Yield	10.4%	—
Liquidity Score	27 / 100	Low
Homes Sold (Period)	68	-8.1%

Is Summit Lake Safe? Natural-Hazard Risk

FEMA National Risk Index composite across eight hazards, plus inherited Ohio crime context.

Red Flag Breakdown

32 / 100

Low Risk

Composite is weighted by expected impact — frequent low-damage hazards (hail, wind) weigh less than flood or wildfire.

Hail80Very High

Strong Wind60High

Hurricane40Moderate

Tornado40Moderate

Flood20Low

Wildfire20Low

Earthquake20Low

Heat20Low

8/8 hazards scored · FEMA NRI v1.20

Crime (state-level): Ohio averaged 18.4 crimes and 2.9 violent per 1,000 residents (-9.5% YoY) in 2024(FBI UCR). Compare the state to the country, not states as a ranking — full Safety & Crime data lives on the state page.

Unlock the full risk report for Summit Lake

Tract-level hazard heatmap & parcel detail with Pro

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See all eight FEMA hazard scores — free with a DistrictScore account.

What Stands Out AI Insight

Above-average gross rental yield at 10.4%

Appreciating market — +13.6% sale-price YoY

Low natural-hazard risk — 32/100 composite

Active transaction volume — 68 homes sold last period

Hail risk is Very High (80/100)

Insights are generated from Summit Lake's live DistrictScore metrics.

Summit Lake Environment & Safety

Satellite PM2.5 air-quality history, FBI UCR crime trend (Ohio-level, the finest official aggregation), EPA radon potential and point-source hazard screening.

Air Quality — PM2.5

2015–2024

6.2 µg/m³ Meets EPA, above WHO guideline-28.3% since 2015

EPA 9WHO 5

20152024

Annual mean fine-particle (PM2.5) concentration at the Summit Lake centroid, satellite-derived (ACAG). References: WHO guideline 5 µg/m³ · EPA annual standard 9 µg/m³. Latest year ranks worse than 56% of U.S. neighborhoods.

Ohio Crime Trend

FBI UCR

20132024

All crimes / 1k

Violent / 1k

Year	Crimes / 1k	Violent / 1k	YoY
2024	18.4	2.9	-9.5%
2023	20.5	3.0	-2.1%
2022	21.1	3.0	+3.2%
2021	20.4	3.2	-5.1%
2020	21.6	3.1	-8.3%
2019	23.5	3.0	—

Reported at the state level — the finest official US crime aggregation; Summit Lake inherits the Ohio figures.

Radon Potential

EPA

Zone 1

Zone 1 — Highest potential · Summit Lake

EPA radon zones estimate indoor radon potential county-wide (Zone 1 highest, Zone 3 lowest). Testing is recommended in all zones.

Environmental Hazards

EPA / BTS

Industrial odor6 nearbyVery High

Point-source screening near Summit Lake: EPA Superfund National Priorities List & Facility Registry (2026), BTS aviation noise (2020, 24-hour average level). Superfund shows distance to the nearest listed site; odor shows detected sources within the screening radius. Only detected sources are listed; the bar shows severity vs. all U.S. neighborhoods.

Walkability & Amenities in Summit Lake

Amenity density and pedestrian access from OpenStreetMap points of interest.

Walkability & Amenities

OpenStreetMap POI

54

Somewhat Walkable

Walkability Score

8

Grocery

2

Dining

6

Schools

0

Universities

1

Hospitals

0

Pharmacies

8

Parks

0

Rail Transit

0

Coworking

POI counts are amenities within Summit Lake's boundary plus a 400 m walk buffer. Rail transit excludes bus stops.

Summit Lake vs Akron vs Ohio

How Summit Lake benchmarks against its city and state medians.

Benchmark vs City & State

Across Summit Lake, the median sale price sits in line with the median for Akron neighborhoods and about 30% below the statewide median. Gross rental yield is 10.4%, against 8.9% for Akron neighborhoods and 6.2% statewide. Over the past 12 months, prices rose 13.6%. Transaction liquidity sits in line with the median for Akron neighborhoods and in line with the statewide median.

Area	Median / Sq Ft	Gross Yield	Liquidity
Summit Lake	$119/sqft	10.4%	27
Akron	$119/sqft	8.9%	27
Ohio	$169/sqft	6.2%	28

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Buying Property in the US as a Foreigner

Federal & Ohio tax facts for non-resident buyers, plus the latest local market news.

Buying as a Foreigner

US Tax & Ownership

Applies to everyone7

Capital Gains (Federal)

Long-term capital gains taxed federally at 0/15/20%, plus a 3.8% Net Investment Income Tax on higher incomes (2026).

Property Tax

Property tax: ~1.28% average effective rate (statewide average; set and collected locally).

State Income Tax

State income tax up to 3.5%; rental income is taxed at these rates.

State Capital Gains

Capital gains are taxed as ordinary income at state rates.

Transfer Tax

Real estate transfer tax: $1 per $1,000.

Assessment Cap

No Proposition 13-style assessment cap; property is reassessed at market value.

Mansion Tax / Rent Control

No statewide mansion tax or statewide rent control.

US citizens & tax residents7

Primary-Home Exclusion

Selling your main home: exclude up to $250k of gain (single) / $500k (married) if you owned and lived there 2 of the last 5 years.

1031 Like-Kind Exchange

A 1031 like-kind exchange defers capital gains tax on investment property; 45 days to identify, 180 to close. Real estate only.

Depreciation Recapture

Residential rentals depreciate over 27.5 years; on sale, recaptured depreciation is taxed up to 25% (Section 1250).

Mortgage Interest Deduction

Mortgage interest is deductible on up to $750k of home debt. The SALT cap rose to $40,000 for 2025-2029 (reverts to $10k in 2030).

Opportunity Zones

Opportunity Zones are now permanent (2025): reinvested capital gains get deferral plus a basis step-up, and are tax-free after 10 years.

Rental Income (Resident)

Rental income is reported on Schedule E; passive-loss rules (Section 469) limit deducting rental losses against other income.

1031 State Conformity

The state conforms to the federal 1031 like-kind exchange rules.

Foreign buyers (non-residents)5

FIRPTA (Foreign Sellers)

FIRPTA: the buyer withholds 15% of the gross sale price when a nonresident sells US property. It is an advance deposit, not the final tax.

Non-Resident Capital Gains

Nonresident sellers pay US capital gains tax (generally 15-20%) on the net gain via Form 1040-NR; FIRPTA withholding is credited.

Non-Resident Rental Tax

Nonresident rental income is taxed at 30% of gross by default, or on net income at graduated rates via a Section 871(d) election (W-8ECI).

Estate Tax (Non-Resident)

Nonresidents get only a $60,000 US estate-tax exemption (vs $13.99M for residents); US property above it is taxed up to 40%. Treaties may help.

ITIN Requirement

Nonresidents without an SSN need an ITIN (Form W-7) to file US tax returns, claim FIRPTA refunds, and report rental income.

Talk to a US real-estate tax advisor

FIRPTA, ITIN & Ohio property-tax guidance for foreign buyers

Latest Akron Real-Estate News

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Guaranteed Rate • Jun 18, 2026

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Eye On Housing • Jun 18, 2026

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Altus Group • Jun 18, 2026

Summit Lake Real Estate FAQ

Summit Lake, Akron, Ohio has a value-oriented profile with a gross yield of 10.4 and prices up 13.6% over the past year. Pricing is in line with Akron and about 30% below Ohio, while the Red Flag score is 32 and education is in the 8th percentile.

Neighborhoods near Summit Lake

Compare Summit Lake with nearby neighborhoods in Akron.

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