Cottonwood Heights is located in a good market for 5+ unit multifamily loans. Multifamily loans in Cottonwood Heights are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Cottonwood Heights are competitive. Cottonwood 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 Cottonwood Heights.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cottonwood Heights 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 | 7.04% - 7.28% |
| 7 Year Fixed | 6.63% - 6.87% |
| 10 Year Fixed | 6.69% - 6.93% |
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 | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Cottonwood Heights.
The city of Cottonwood Heights in Salt Lake County has a population of 33,843. The median rent in Salt Lake County for a 2 bedroom is $1,291. The median Cottonwood Heights resident is 39 years old with a yearly income of $42,279. The average family has 3.19 members and a median household income of $93,564. Cottonwood Heights has a 53% higher education rate. The unemployment rate in Cottonwood Heights is 3.0%.
27% of Cottonwood Heights households are renters.
24% median household income spent on rent.
Bedrooms |
Salt Lake County 1 |
Utah 2 |
National 2 |
|---|---|---|---|
| Studio | $889 | $659 | $737 |
| 1 bedroom | $1,073 | $743 | $813 |
| 2 bedroom | $1,291 | $922 | $1,015 |
| 3 bedroom | $1,812 | $1,250 | $1,325 |
| 4 bedroom | $2,029 | $1,497 | $1,521 |
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