Menlo Park is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Menlo Park are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Menlo Park are some of the lowest nationally. Menlo Park 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 Menlo Park.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Menlo Park 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 | 5.71% - 5.46% |
| 7 Year Fixed | 5.10% - 5.34% |
| 10 Year Fixed | 5.09% - 5.33% |
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 Menlo Park.
The city of Menlo Park in San Mateo County has a population of 34,698. The median rent in San Mateo County for a 2 bedroom is $3,700. The median Menlo Park resident is 38 years old with a yearly income of $61,868. The average family has 3.36 members and a median household income of $160,784. Menlo Park has a 70% higher education rate. The unemployment rate in Menlo Park is 3.6%.
42.1% of Menlo Park households are renters.
28% median household income spent on rent.
Bedrooms |
San Mateo County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $2,447 | $1,137 | $737 |
| 1 bedroom | $3,044 | $1,291 | $813 |
| 2 bedroom | $3,700 | $1,635 | $1,015 |
| 3 bedroom | $4,756 | $2,254 | $1,325 |
| 4 bedroom | $5,176 | $2,613 | $1,521 |
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