Toledo is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Toledo are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Toledo are slightly higher than the national average. Toledo 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 Toledo.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Toledo 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 Toledo.
The city of Toledo in Lucas County has a population of 272,779. The median rent in Lucas County for a 2 bedroom is $848. The median Toledo resident is 35 years old with a yearly income of $23,447. The average family has 3 members and a median household income of $37,752. Toledo has a 18% higher education rate. The unemployment rate in Toledo is 9.1%.
49.6% of Toledo households are renters.
33.3% median household income spent on rent.
Bedrooms |
Lucas County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $572 | $597 | $737 |
| 1 bedroom | $656 | $662 | $813 |
| 2 bedroom | $848 | $834 | $1,015 |
| 3 bedroom | $1,151 | $1,084 | $1,325 |
| 4 bedroom | $1,261 | $1,205 | $1,521 |
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