Milford is located in a good market for 5+ unit multifamily loans. Multifamily loans in Milford are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Milford are competitive. Milford 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 Milford.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Milford 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 | 5.44% - 5.68% |
| 7 Year Fixed | 5.23% - 5.47% |
| 10 Year Fixed | 5.14% - 5.38% |
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 Milford.
The city of Milford in Worcester County has a population of 28,883. The median rent in Worcester County for a 2 bedroom is $1,552. The median Milford resident is 39 years old with a yearly income of $40,431. The average family has 3.14 members and a median household income of $83,243. Milford has a 36% higher education rate. The unemployment rate in Milford is 5.0%.
31% of Milford households are renters.
32.3% median household income spent on rent.
Bedrooms |
Worcester County 1 |
Massachusetts 2 |
National 2 |
|---|---|---|---|
| Studio | $1,138 | $1,259 | $737 |
| 1 bedroom | $1,214 | $1,399 | $813 |
| 2 bedroom | $1,552 | $1,747 | $1,015 |
| 3 bedroom | $1,930 | $2,190 | $1,325 |
| 4 bedroom | $2,105 | $2,423 | $1,521 |
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