Burbank is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Burbank are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Burbank are some of the lowest nationally. Burbank 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 Burbank.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Burbank 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.77% - 7.01% |
| 7 Year Fixed | 6.55% - 6.79% |
| 10 Year Fixed | 6.59% - 6.83% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in Burbank.
The city of Burbank in Los Angeles County has a population of 102,511. The median rent in Los Angeles County for a 2 bedroom is $2,238. The median Burbank resident is 40 years old with a yearly income of $38,834. The average family has 3.2 members and a median household income of $75,827. Burbank has a 42% higher education rate. The unemployment rate in Burbank is 6.1%.
58.1% of Burbank households are renters.
35.4% median household income spent on rent.
Bedrooms |
Los Angeles County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,488 | $1,137 | $737 |
| 1 bedroom | $1,746 | $1,291 | $813 |
| 2 bedroom | $2,238 | $1,635 | $1,015 |
| 3 bedroom | $2,974 | $2,254 | $1,325 |
| 4 bedroom | $3,243 | $2,613 | $1,521 |
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