Columbus is located in a good market for 5+ unit multifamily loans. Multifamily loans in Columbus are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Columbus are competitive. Columbus apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Columbus.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Columbus 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.49% - 5.73% |
| 7 Year Fixed | 5.25% - 5.49% |
| 10 Year Fixed | 5.19% - 5.43% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Columbus.
The city of Columbus in Franklin County has a population of 898,553. The median rent in Franklin County for a 2 bedroom is $1,105. The median Columbus resident is 32 years old with a yearly income of $30,484. The average family has 3.16 members and a median household income of $53,745. Columbus has a 37% higher education rate. The unemployment rate in Columbus is 5.5%.
55.3% of Columbus households are renters.
28.8% median household income spent on rent.
Bedrooms |
Franklin County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $768 | $597 | $737 |
| 1 bedroom | $886 | $662 | $813 |
| 2 bedroom | $1,105 | $834 | $1,015 |
| 3 bedroom | $1,391 | $1,084 | $1,325 |
| 4 bedroom | $1,574 | $1,205 | $1,521 |
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