Columbia Heights is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Columbia Heights are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Columbia Heights are some of the lowest nationally. Columbia Heights 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 Columbia Heights.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Columbia Heights are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.07% - 6.31% |
| 7 Year Fixed | 6.18% - 6.42% |
| 10 Year Fixed | 6.19% - 6.43% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in Columbia Heights.
The city of Columbia Heights in Anoka County has a population of 20,427. The median rent in Anoka County for a 2 bedroom is $1,410. The median Columbia Heights resident is 37 years old with a yearly income of $33,926. The average family has 3.23 members and a median household income of $57,882. Columbia Heights has a 27% higher education rate. The unemployment rate in Columbia Heights is 5.7%.
33.2% of Columbia Heights households are renters.
33.9% median household income spent on rent.
Bedrooms |
Anoka County 1 |
Minnesota 2 |
National 2 |
|---|---|---|---|
| Studio | $968 | $607 | $737 |
| 1 bedroom | $1,136 | $694 | $813 |
| 2 bedroom | $1,410 | $881 | $1,015 |
| 3 bedroom | $1,982 | $1,200 | $1,325 |
| 4 bedroom | $2,324 | $1,366 | $1,521 |
We're here to help.