Redwood City is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Redwood City are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Redwood City are some of the lowest nationally. Redwood City 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 Redwood City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Redwood City 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 | 5.71% - 5.46% |
| 7 Year Fixed | 5.10% - 5.34% |
| 10 Year Fixed | 5.09% - 5.33% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 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 Redwood City.
The city of Redwood City in San Mateo County has a population of 85,925. The median rent in San Mateo County for a 2 bedroom is $3,700. The median Redwood City resident is 37 years old with a yearly income of $50,050. The average family has 3.29 members and a median household income of $117,123. Redwood City has a 50% higher education rate. The unemployment rate in Redwood City is 2.9%.
50.2% of Redwood City households are renters.
31.5% median household income spent on rent.
Bedrooms |
San Mateo County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $2,447 | $1,137 | $737 |
| 1 bedroom | $3,044 | $1,291 | $813 |
| 2 bedroom | $3,700 | $1,635 | $1,015 |
| 3 bedroom | $4,756 | $2,254 | $1,325 |
| 4 bedroom | $5,176 | $2,613 | $1,521 |
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