Concord is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Concord are considered greater risk due to market dynamics. Interest rates for multifamily loans in Concord are higher than the national average. Concord 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 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 | 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 | 6.93% - 7.17% |
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 Concord.
The city of Concord in Merrimack County has a population of 43,627. The median rent in Merrimack County for a 2 bedroom is $1,251. The median Concord resident is 40 years old with a yearly income of $33,718. The average family has 2.94 members and a median household income of $66,719. Concord has a 38% higher education rate. The unemployment rate in Concord is 4.0%.
47.2% of Concord households are renters.
29.9% median household income spent on rent.
Bedrooms |
Merrimack County 1 |
New Hampshire 2 |
National 2 |
|---|---|---|---|
| Studio | $886 | $842 | $737 |
| 1 bedroom | $966 | $959 | $813 |
| 2 bedroom | $1,251 | $1,222 | $1,015 |
| 3 bedroom | $1,620 | $1,597 | $1,325 |
| 4 bedroom | $1,729 | $1,897 | $1,521 |
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