Shrewsbury is located in a good market for 5+ unit multifamily loans. Multifamily loans in Shrewsbury are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Shrewsbury are competitive. Shrewsbury 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 Shrewsbury.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Shrewsbury 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 | 5.44% - 5.68% |
| 7 Year Fixed | 5.23% - 5.47% |
| 10 Year Fixed | 5.14% - 5.38% |
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 Shrewsbury.
The city of Shrewsbury in Worcester County has a population of 37,416. The median rent in Worcester County for a 2 bedroom is $1,552. The median Shrewsbury resident is 42 years old with a yearly income of $48,171. The average family has 3.19 members and a median household income of $104,766. Shrewsbury has a 59% higher education rate. The unemployment rate in Shrewsbury is 3.8%.
26.5% of Shrewsbury households are renters.
29.2% median household income spent on rent.
Bedrooms |
Worcester County 1 |
Massachusetts 2 |
National 2 |
|---|---|---|---|
| Studio | $1,138 | $1,259 | $737 |
| 1 bedroom | $1,214 | $1,399 | $813 |
| 2 bedroom | $1,552 | $1,747 | $1,015 |
| 3 bedroom | $1,930 | $2,190 | $1,325 |
| 4 bedroom | $2,105 | $2,423 | $1,521 |
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