Strongsville is located in a good market for 5+ unit multifamily loans. Multifamily loans in Strongsville are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Strongsville are competitive. Strongsville 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 Strongsville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Strongsville 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 Strongsville.
The city of Strongsville in Cuyahoga County has a population of 44,660. The median rent in Cuyahoga County for a 2 bedroom is $925. The median Strongsville resident is 46 years old with a yearly income of $41,964. The average family has 3 members and a median household income of $88,176. Strongsville has a 47% higher education rate. The unemployment rate in Strongsville is 4.5%.
18.5% of Strongsville households are renters.
25.6% median household income spent on rent.
Bedrooms |
Cuyahoga County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $640 | $597 | $737 |
| 1 bedroom | $754 | $662 | $813 |
| 2 bedroom | $925 | $834 | $1,015 |
| 3 bedroom | $1,216 | $1,084 | $1,325 |
| 4 bedroom | $1,271 | $1,205 | $1,521 |
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