North Royalton is located in a good market for 5+ unit multifamily loans. Multifamily loans in North Royalton are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in North Royalton are competitive. North Royalton 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 North Royalton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in North Royalton 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 North Royalton.
The city of North Royalton in Cuyahoga County has a population of 30,068. The median rent in Cuyahoga County for a 2 bedroom is $925. The median North Royalton resident is 44 years old with a yearly income of $38,230. The average family has 3.01 members and a median household income of $70,665. North Royalton has a 40% higher education rate. The unemployment rate in North Royalton is 3.2%.
27.2% of North Royalton households are renters.
21.9% median household income spent on rent.
Bedrooms |
Cuyahoga 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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