Grove City is located in a good market for 5+ unit multifamily loans. Multifamily loans in Grove City are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Grove City are competitive. Grove City 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 Grove City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Grove City 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 Grove City.
The city of Grove City in Franklin County has a population of 41,820. The median rent in Franklin County for a 2 bedroom is $1,105. The median Grove City resident is 39 years old with a yearly income of $40,460. The average family has 3.04 members and a median household income of $74,284. Grove City has a 34% higher education rate. The unemployment rate in Grove City is 3.0%.
29.5% of Grove City households are renters.
27.3% 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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