Concord is located in a good market for 5+ unit multifamily loans. Multifamily loans in Concord are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Concord are competitive. Concord 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 Concord.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Concord 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 Concord.
The city of Concord in Cabarrus County has a population of 96,341. The median rent in Cabarrus County for a 2 bedroom is $1,243. The median Concord resident is 37 years old with a yearly income of $32,837. The average family has 3.33 members and a median household income of $67,984. Concord has a 38% higher education rate. The unemployment rate in Concord is 5.3%.
32.3% of Concord households are renters.
29.1% median household income spent on rent.
Bedrooms |
Cabarrus County 1 |
North Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $1,066 | $694 | $737 |
| 1 bedroom | $1,090 | $713 | $813 |
| 2 bedroom | $1,243 | $871 | $1,015 |
| 3 bedroom | $1,639 | $1,152 | $1,325 |
| 4 bedroom | $2,112 | $1,386 | $1,521 |
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