Warren is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Warren are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Warren are slightly higher than the national average. Warren 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 Warren.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Warren 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 Warren.
The city of Warren in Trumbull County has a population of 38,752. The median rent in Trumbull County for a 2 bedroom is $734. The median Warren resident is 39 years old with a yearly income of $18,582. The average family has 2.93 members and a median household income of $28,898. Warren has a 14% higher education rate. The unemployment rate in Warren is 8.2%.
50% of Warren households are renters.
43.2% median household income spent on rent.
Bedrooms |
Trumbull County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $511 | $597 | $737 |
| 1 bedroom | $585 | $662 | $813 |
| 2 bedroom | $734 | $834 | $1,015 |
| 3 bedroom | $966 | $1,084 | $1,325 |
| 4 bedroom | $1,036 | $1,205 | $1,521 |
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