Medford is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Medford are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Medford are some of the lowest nationally. Medford 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 Medford.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Medford are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.42% - 5.66% |
| 7 Year Fixed | 5.48% - 5.72% |
| 10 Year Fixed | 5.34% - 5.58% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Medford.
The city of Medford in Middlesex County has a population of 57,341. The median rent in Middlesex County for a 2 bedroom is $2,470. The median Medford resident is 35 years old with a yearly income of $46,623. The average family has 3 members and a median household income of $96,455. Medford has a 54% higher education rate. The unemployment rate in Medford is 2.8%.
43.8% of Medford households are renters.
30% median household income spent on rent.
Bedrooms |
Middlesex County 1 |
Massachusetts 2 |
National 2 |
|---|---|---|---|
| Studio | $1,842 | $1,259 | $737 |
| 1 bedroom | $2,034 | $1,399 | $813 |
| 2 bedroom | $2,470 | $1,747 | $1,015 |
| 3 bedroom | $3,072 | $2,190 | $1,325 |
| 4 bedroom | $3,349 | $2,423 | $1,521 |
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