Merced is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Merced are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Merced are slightly higher than the national average. Merced apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Merced.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Merced 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 $6M |
|---|---|
| 5 Year Fixed | 5.53% - 5.77% |
| 7 Year Fixed | 5.17% - 5.41% |
| 10 Year Fixed | 5.18% - 5.42% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Merced.
The city of Merced in Merced County has a population of 83,676. The median rent in Merced County for a 2 bedroom is $1,148. The median Merced resident is 29 years old with a yearly income of $22,229. The average family has 3.72 members and a median household income of $45,232. Merced has a 17% higher education rate. The unemployment rate in Merced is 12.7%.
58.7% of Merced households are renters.
38.1% median household income spent on rent.
Bedrooms |
Merced County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $779 | $1,137 | $737 |
| 1 bedroom | $949 | $1,291 | $813 |
| 2 bedroom | $1,148 | $1,635 | $1,015 |
| 3 bedroom | $1,643 | $2,254 | $1,325 |
| 4 bedroom | $1,988 | $2,613 | $1,521 |
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