Monrovia is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Monrovia are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Monrovia are some of the lowest nationally. Monrovia 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 Monrovia.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Monrovia 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 | 5.71% - 5.46% |
| 7 Year Fixed | 5.10% - 5.34% |
| 10 Year Fixed | 5.09% - 5.33% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 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 | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Monrovia.
The city of Monrovia in Los Angeles County has a population of 36,331. The median rent in Los Angeles County for a 2 bedroom is $2,238. The median Monrovia resident is 40 years old with a yearly income of $35,839. The average family has 3.42 members and a median household income of $77,111. Monrovia has a 37% higher education rate. The unemployment rate in Monrovia is 5.9%.
53.2% of Monrovia households are renters.
30% median household income spent on rent.
Bedrooms |
Los Angeles County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,488 | $1,137 | $737 |
| 1 bedroom | $1,746 | $1,291 | $813 |
| 2 bedroom | $2,238 | $1,635 | $1,015 |
| 3 bedroom | $2,974 | $2,254 | $1,325 |
| 4 bedroom | $3,243 | $2,613 | $1,521 |
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