Upper Merion is located in a good market for 5+ unit multifamily loans. Multifamily loans in Upper Merion are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Upper Merion are competitive. Upper Merion 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 Upper Merion.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Upper Merion 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 Upper Merion.
The city of Upper Merion in Montgomery County has a population of 30,260. The median rent in Montgomery County for a 2 bedroom is $1,358. The median Upper Merion resident is 39 years old with a yearly income of $50,241. The average family has 2.94 members and a median household income of $95,921. Upper Merion has a 60% higher education rate. The unemployment rate in Upper Merion is 3.8%.
35.6% of Upper Merion households are renters.
22.8% median household income spent on rent.
Bedrooms |
Montgomery County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $970 | $680 | $737 |
| 1 bedroom | $1,121 | $747 | $813 |
| 2 bedroom | $1,358 | $929 | $1,015 |
| 3 bedroom | $1,689 | $1,198 | $1,325 |
| 4 bedroom | $1,935 | $1,330 | $1,521 |
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