Mayor Malik Launches Akron Dreams Down Payment Assistance Program

Mayor Malik and the City of Akron, in partnership with the East Akron Neighborhood Development Corporation (EANDC), officially launched Akron Dreams, a new down payment assistance program designed to help more Akron residents achieve the dream of homeownership. The program will provide up to $7,500 to eligible first-time homebuyers purchasing a home in Akron. To learn more about the program and apply, click here.

Mayor Malik first announced plans for the program during his 2026 State of the City Address as part of his administration’s broader work to increase access to quality, affordable housing and create more pathways to homeownership. The City has allocated $300,000 of its annual allocation of funds from the Department of Housing and Urban Development (HUD) to launch the program, which is expected to assist approximately 35 families. The city aims to allocate future HUD funding to assist more families.  

“Homeownership is one of the most important ways families can build stability and wealth, but for too many people, the upfront cost of buying a home remains a significant barrier,” said Mayor Malik. “Akron Dreams is about helping more residents get through that front door and giving families an opportunity to put down roots and build a future here in Akron. We know the need is great, and our hope is to continue dedicating future HUD resources to this program so we can help even more Akron families achieve the dream of homeownership.”

Akron Dreams is one piece of the Malik administration’s broader housing strategy to increase the supply, quality, variety and affordability of housing throughout Akron. The City is also pursuing significant zoning and regulatory changes to make it easier to build and rehabilitate housing and is working to return vacant and underutilized properties to productive use. Akron will soon publicly launch Made in Akron, a collection of pre-reviewed home plans available at no cost to help reduce the time, cost and uncertainty involved in building new homes. Together, these efforts are aimed at both creating more quality housing options and making those options more accessible to Akron residents.

“Housing affordability is not one single challenge, and there is no single solution,” said Planning Director Kyle Julien. “We have to create more housing choices, make it easier to build and rehabilitate homes, invest in our existing neighborhoods and help residents access the housing opportunities we create. Akron Dreams addresses a very real barrier for people who are ready to become homeowners but need help with the upfront costs of purchasing a home.”

EANDC will administer Akron Dreams and work directly with prospective homebuyers throughout the process, including determining program eligibility and providing required homebuyer education and counseling. Applicants must meet program requirements related to income, credit, mortgage pre-approval and owner occupancy, among other criteria.

“EANDC is excited to partner with the City of Akron on a program that can make homeownership possible for more families in our community,” said Tammara Humbert, Chief Financial Officer at EANDC. “We know that many prospective buyers have worked hard to prepare for homeownership but still struggle with the upfront costs. Akron Dreams provides meaningful assistance while pairing it with the education and support that can help families become successful, sustainable homeowners.”

The launch also reflects housing priorities raised by residents and community advocates.

Organizations including Freedom BLOC have worked for years to elevate housing issues in Akron, and down payment assistance was among the recommendations developed by residents participating in Unify Akron’s Civic Assembly on Housing earlier this year. Akron City Council approved the funding for the program this summer.

Residents interested in Akron Dreams can learn more about eligibility requirements and how to apply by visiting https://www.eandc.org/akrondreams or contacting EANDC at (330) 773-6838.