NAICS 52

Finance and Insurance in Akron, OH

Metro Market Score 67.2 (Difficult), ranked #279 of 331 metros. 1,017 establishments, 10,794 jobs.

Metro Market Score 67.2

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Difficult

ⓘ Lower is better. Relative to national finance and insurance average.

💰High-Cost Market

Market conditions for finance and insurance in Akron are tougher than average. The 67.2 market score reflects a combination of high labor costs, slowing employment, and an already crowded field. Rank: #279 of 331 metros.

Industry Concentration

76.4

LQ: 0.84

Rank #253 of 331 metros

Wage Competitiveness

75.5

$104,295 avg wage

Growth Trend

↓ 33.2

Employment growth index

Rank #222 of 331 metros

Wage Pressure

46.0

YoY wage change index

1,017 Finance and Insurance Firms in Akron

1,017

Establishments

+0.5% YoY

10,794

Total Employment

-2.6% YoY

$104,295

Average Annual Wage

+6.2% YoY

0.84

Location Quotient

Below national avg

Within Ohio

#10 of 11

finance and insurance metros in state

Ohio state rank

#14 of 51

for finance and insurance entry risk

vs State Median

+18.3

worse than median (48.9)

Akron vs Ohio Statewide

How this metro's finance and insurance market compares to Ohio overall. The state ranks #14/51 for entry risk.

Measure	Akron	OH Statewide
Overall Score	67.2 Difficult	48.2 Elevated
Score Type	Metro Market Score	Entry Risk Score
Rank	#279 of 331 metros	#14 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Akron

Other Services 35.4 Accommodation and Food Services 43.9 Healthcare and Social Assistance 46.4 Construction 49.8 Administrative and Support Services 52.1 Real Estate and Rental and Leasing 52.8 Professional, Scientific, and Technical Services 55.3 Retail Trade 56.7 Information 60.9

Finance and Insurance in Other Ohio Metros

Mansfield 29.5 #45/331 Lima 31.2 #56/331 Sandusky 39.8 #104/331 Toledo 44.1 #137/331 Dayton-Kettering-Beavercreek 48.7 #161/331 Youngstown-Warren 48.9 #163/331 Canton-Massillon 51.2 #183/331 Springfield 56.8 #229/331 Cleveland 63.5 #265/331 Columbus 78.4 #327/331

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Akron's 67.2 score. Useful when comparing markets with comparable entry profiles.

Evansville, IN 67.2 #278/331 Birmingham, AL 67.1 #277/331 Harrisburg-Carlisle, PA 67.0 #275/331 Phoenix-Mesa-Chandler, AZ 67.0 #276/331 Santa Rosa-Petaluma, CA 67.4 #280/331 Los Angeles-Long Beach-Anaheim, CA 67.4 #281/331 Tampa-St. Petersburg-Clearwater, FL 66.8 #274/331 Johnson City, TN 67.8 #282/331 Coeur d'Alene, ID 67.9 #283/331 Louisville-Jefferson County, KY 68.2 #284/331

Finance and Insurance in States Bordering Ohio

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

West Virginia 39.8 #2/51 Kentucky 40.0 #3/51 Indiana 45.4 #9/51 Pennsylvania 48.8 #19/51 Michigan 49.8 #23/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Akron's finance and insurance sector, the employment growth component (66.8) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Akron, OH MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment