Boardman is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Boardman are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Boardman are slightly higher than the national average. Boardman apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Boardman.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Boardman are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.58% - 5.82% |
| 7 Year Fixed | 5.29% - 5.53% |
| 10 Year Fixed | 5.13% - 5.37% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Boardman.
The city of Boardman in Mahoning County has a population of 34,431. The median rent in Mahoning County for a 2 bedroom is $734. The median Boardman resident is 43 years old with a yearly income of $30,714. The average family has 2.94 members and a median household income of $55,813. Boardman has a 32% higher education rate. The unemployment rate in Boardman is 6.0%.
33.6% of Boardman households are renters.
25.1% median household income spent on rent.
Bedrooms |
Mahoning County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $511 | $597 | $737 |
| 1 bedroom | $585 | $662 | $813 |
| 2 bedroom | $734 | $834 | $1,015 |
| 3 bedroom | $966 | $1,084 | $1,325 |
| 4 bedroom | $1,036 | $1,205 | $1,521 |
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