Euclid is located in a good market for 5+ unit multifamily loans. Multifamily loans in Euclid are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Euclid are competitive. Euclid 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 Euclid.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Euclid 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 Euclid.
The city of Euclid in Cuyahoga County has a population of 46,550. The median rent in Cuyahoga County for a 2 bedroom is $925. The median Euclid resident is 41 years old with a yearly income of $26,061. The average family has 2.98 members and a median household income of $38,242. Euclid has a 20% higher education rate. The unemployment rate in Euclid is 9.1%.
54.4% of Euclid households are renters.
36.1% median household income spent on rent.
Bedrooms |
Cuyahoga County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $640 | $597 | $737 |
| 1 bedroom | $754 | $662 | $813 |
| 2 bedroom | $925 | $834 | $1,015 |
| 3 bedroom | $1,216 | $1,084 | $1,325 |
| 4 bedroom | $1,271 | $1,205 | $1,521 |
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