Quincy is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Quincy are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Quincy are some of the lowest nationally. Quincy 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 Quincy.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Quincy are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
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 | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
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 Quincy.
The city of Quincy in Norfolk County has a population of 94,470. The median rent in Norfolk County for a 2 bedroom is $2,470. The median Quincy resident is 40 years old with a yearly income of $40,465. The average family has 3.07 members and a median household income of $77,562. Quincy has a 45% higher education rate. The unemployment rate in Quincy is 5.1%.
53.8% of Quincy households are renters.
30% median household income spent on rent.
Bedrooms |
Norfolk County 1 |
Massachusetts 2 |
National 2 |
|---|---|---|---|
| Studio | $1,842 | $1,259 | $737 |
| 1 bedroom | $2,034 | $1,399 | $813 |
| 2 bedroom | $2,470 | $1,747 | $1,015 |
| 3 bedroom | $3,072 | $2,190 | $1,325 |
| 4 bedroom | $3,349 | $2,423 | $1,521 |
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