Encinitas is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Encinitas are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Encinitas are some of the lowest nationally. Encinitas 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 Encinitas.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Encinitas 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 | 6.77% - 7.01% |
| 7 Year Fixed | 6.55% - 6.79% |
| 10 Year Fixed | 6.59% - 6.83% |
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 | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in Encinitas.
The city of Encinitas in San Diego County has a population of 62,709. The median rent in San Diego County for a 2 bedroom is $2,254. The median Encinitas resident is 44 years old with a yearly income of $53,223. The average family has 3.09 members and a median household income of $116,022. Encinitas has a 62% higher education rate. The unemployment rate in Encinitas is 3.8%.
36.7% of Encinitas households are renters.
32.1% median household income spent on rent.
Bedrooms |
San Diego County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,569 | $1,137 | $737 |
| 1 bedroom | $1,743 | $1,291 | $813 |
| 2 bedroom | $2,254 | $1,635 | $1,015 |
| 3 bedroom | $3,170 | $2,254 | $1,325 |
| 4 bedroom | $3,903 | $2,613 | $1,521 |
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