Ashland is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Ashland are considered greater risk due to market dynamics. Interest rates for multifamily loans in Ashland are higher than the national average. Ashland apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Ashland.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ashland are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 10 Year Fixed | 6.83% - 7.07% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Ashland.
The city of Ashland in Ashland County has a population of 20,275. The median rent in Ashland County for a 2 bedroom is $795. The median Ashland resident is 36 years old with a yearly income of $22,544. The average family has 2.99 members and a median household income of $47,869. Ashland has a 27% higher education rate. The unemployment rate in Ashland is 3.0%.
39.5% of Ashland households are renters.
26% median household income spent on rent.
Bedrooms |
Ashland County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $525 | $597 | $737 |
| 1 bedroom | $603 | $662 | $813 |
| 2 bedroom | $795 | $834 | $1,015 |
| 3 bedroom | $1,015 | $1,084 | $1,325 |
| 4 bedroom | $1,278 | $1,205 | $1,521 |
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