Columbia is located in a good market for 5+ unit multifamily loans. Multifamily loans in Columbia are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Columbia are competitive. Columbia 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.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Columbia 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 | 6.34% - 6.58% |
| 7 Year Fixed | 6.23% - 6.47% |
| 10 Year Fixed | 6.24% - 6.48% |
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 | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Columbia.
The city of Columbia in Richland County has a population of 131,674. The median rent in Richland County for a 2 bedroom is $1,041. The median Columbia resident is 29 years old with a yearly income of $22,230. The average family has 3.07 members and a median household income of $47,286. Columbia has a 44% higher education rate. The unemployment rate in Columbia is 6.7%.
54% of Columbia households are renters.
37% median household income spent on rent.
Bedrooms |
Richland County 1 |
South Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $846 | $697 | $737 |
| 1 bedroom | $913 | $732 | $813 |
| 2 bedroom | $1,041 | $879 | $1,015 |
| 3 bedroom | $1,336 | $1,158 | $1,325 |
| 4 bedroom | $1,651 | $1,369 | $1,521 |
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