Stow is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Stow are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Stow are slightly higher than the national average. Stow apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Stow.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Stow 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 $6M |
|---|---|
| 5 Year Fixed | 5.58% - 5.82% |
| 7 Year Fixed | 5.29% - 5.53% |
| 10 Year Fixed | 5.13% - 5.37% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Stow.
The city of Stow in Summit County has a population of 34,785. The median rent in Summit County for a 2 bedroom is $911. The median Stow resident is 40 years old with a yearly income of $37,042. The average family has 2.97 members and a median household income of $73,201. Stow has a 48% higher education rate. The unemployment rate in Stow is 2.9%.
30.9% of Stow households are renters.
23% median household income spent on rent.
Bedrooms |
Summit County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $607 | $597 | $737 |
| 1 bedroom | $712 | $662 | $813 |
| 2 bedroom | $911 | $834 | $1,015 |
| 3 bedroom | $1,147 | $1,084 | $1,325 |
| 4 bedroom | $1,235 | $1,205 | $1,521 |
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