Suitland is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Suitland are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Suitland are some of the lowest nationally. Suitland 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 Suitland.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Suitland 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 | 5.22% - 5.46% |
| 7 Year Fixed | 5.28% - 5.52% |
| 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 | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Suitland.
The city of Suitland in Prince George's County has a population of 24,522. The median rent in Prince George's County for a 2 bedroom is $1,917. The median Suitland resident is 34 years old with a yearly income of $36,849. The average family has 3.24 members and a median household income of $62,073. Suitland has a 16% higher education rate. The unemployment rate in Suitland is 7.2%.
63% of Suitland households are renters.
30.5% median household income spent on rent.
Bedrooms |
Prince George's County 1 |
Maryland 2 |
National 2 |
|---|---|---|---|
| Studio | $1,643 | $1,013 | $737 |
| 1 bedroom | $1,682 | $1,126 | $813 |
| 2 bedroom | $1,917 | $1,365 | $1,015 |
| 3 bedroom | $2,457 | $1,803 | $1,325 |
| 4 bedroom | $2,978 | $2,127 | $1,521 |
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