Drexel Heights is located in a good market for 5+ unit multifamily loans. Multifamily loans in Drexel Heights are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Drexel Heights are competitive. Drexel Heights 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 Drexel Heights.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Drexel Heights 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 | 5.18% - 5.42% |
| 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 Drexel Heights.
The city of Drexel Heights in Pima County has a population of 29,568. The median rent in Pima County for a 2 bedroom is $1,016. The median Drexel Heights resident is 35 years old with a yearly income of $27,018. The average family has 3.45 members and a median household income of $57,790. Drexel Heights has a 13% higher education rate. The unemployment rate in Drexel Heights is 6.4%.
23.3% of Drexel Heights households are renters.
27.7% median household income spent on rent.
Bedrooms |
Pima County 1 |
Arizona 2 |
National 2 |
|---|---|---|---|
| Studio | $670 | $747 | $737 |
| 1 bedroom | $771 | $822 | $813 |
| 2 bedroom | $1,016 | $1,038 | $1,015 |
| 3 bedroom | $1,454 | $1,433 | $1,325 |
| 4 bedroom | $1,724 | $1,597 | $1,521 |
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