Elkridge is located in a good market for 5+ unit multifamily loans. Multifamily loans in Elkridge are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Elkridge are competitive. Elkridge 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 Elkridge.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Elkridge 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 | 5.44% - 5.68% |
| 7 Year Fixed | 5.28% - 5.52% |
| 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 Elkridge.
The city of Elkridge in Howard County has a population of 21,458. The median rent in Howard County for a 2 bedroom is $1,505. The median Elkridge resident is 34 years old with a yearly income of $52,804. The average family has 3.27 members and a median household income of $100,068. Elkridge has a 55% higher education rate. The unemployment rate in Elkridge is 3.4%.
37.5% of Elkridge households are renters.
28.8% median household income spent on rent.
Bedrooms |
Howard County 1 |
Maryland 2 |
National 2 |
|---|---|---|---|
| Studio | $997 | $1,013 | $737 |
| 1 bedroom | $1,213 | $1,126 | $813 |
| 2 bedroom | $1,505 | $1,365 | $1,015 |
| 3 bedroom | $1,950 | $1,803 | $1,325 |
| 4 bedroom | $2,233 | $2,127 | $1,521 |
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