Norwalk is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Norwalk are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Norwalk are some of the lowest nationally. Norwalk 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 Norwalk.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Norwalk 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 | 5.42% - 5.66% |
| 7 Year Fixed | 5.48% - 5.72% |
| 10 Year Fixed | 5.34% - 5.58% |
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 Norwalk.
The city of Norwalk in Fairfield County has a population of 88,816. The median rent in Fairfield County for a 2 bedroom is $1,557. The median Norwalk resident is 40 years old with a yearly income of $41,577. The average family has 3.22 members and a median household income of $85,769. Norwalk has a 43% higher education rate. The unemployment rate in Norwalk is 6.7%.
41.9% of Norwalk households are renters.
33.6% median household income spent on rent.
Bedrooms |
Fairfield County 1 |
Connecticut 2 |
National 2 |
|---|---|---|---|
| Studio | $1,027 | $974 | $737 |
| 1 bedroom | $1,245 | $1,155 | $813 |
| 2 bedroom | $1,557 | $1,442 | $1,015 |
| 3 bedroom | $1,983 | $1,820 | $1,325 |
| 4 bedroom | $2,387 | $2,144 | $1,521 |
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