Medina is located in a good market for 5+ unit multifamily loans. Multifamily loans in Medina are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Medina are competitive. Medina 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 Medina.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Medina 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 Medina.
The city of Medina in Medina County has a population of 25,956. The median rent in Medina County for a 2 bedroom is $925. The median Medina resident is 38 years old with a yearly income of $34,331. The average family has 3.07 members and a median household income of $66,155. Medina has a 37% higher education rate. The unemployment rate in Medina is 2.4%.
34.6% of Medina households are renters.
28.6% median household income spent on rent.
Bedrooms |
Medina 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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