Overland Park is located in a good market for 5+ unit multifamily loans. Multifamily loans in Overland Park are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Overland Park are competitive. Overland Park 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 Overland Park.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Overland Park 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 Overland Park.
The city of Overland Park in Johnson County has a population of 195,494. The median rent in Johnson County for a 2 bedroom is $1,095. The median Overland Park resident is 38 years old with a yearly income of $44,835. The average family has 3.07 members and a median household income of $86,487. Overland Park has a 62% higher education rate. The unemployment rate in Overland Park is 3.0%.
36.6% of Overland Park households are renters.
24.4% median household income spent on rent.
Bedrooms |
Johnson County 1 |
Kansas 2 |
National 2 |
|---|---|---|---|
| Studio | $784 | $581 | $737 |
| 1 bedroom | $919 | $612 | $813 |
| 2 bedroom | $1,095 | $781 | $1,015 |
| 3 bedroom | $1,463 | $1,027 | $1,325 |
| 4 bedroom | $1,665 | $1,166 | $1,521 |
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