Elmhurst is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Elmhurst are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Elmhurst are some of the lowest nationally. Elmhurst 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 Elmhurst.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Elmhurst 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 Elmhurst.
The city of Elmhurst in DuPage County has a population of 46,746. The median rent in DuPage County for a 2 bedroom is $1,417. The median Elmhurst resident is 40 years old with a yearly income of $52,127. The average family has 3.34 members and a median household income of $118,609. Elmhurst has a 60% higher education rate. The unemployment rate in Elmhurst is 4.1%.
19.2% of Elmhurst households are renters.
26.6% median household income spent on rent.
Bedrooms |
DuPage County 1 |
Illinois 2 |
National 2 |
|---|---|---|---|
| Studio | $1,104 | $599 | $737 |
| 1 bedroom | $1,224 | $669 | $813 |
| 2 bedroom | $1,417 | $840 | $1,015 |
| 3 bedroom | $1,799 | $1,100 | $1,325 |
| 4 bedroom | $2,147 | $1,238 | $1,521 |
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