Enid is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Enid are considered greater risk due to market dynamics. Interest rates for multifamily loans in Enid are higher than the national average. Enid 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 Enid.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Enid 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 | 6.88% - 7.12% |
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 Enid.
The city of Enid in Garfield County has a population of 49,688. The median rent in Garfield County for a 2 bedroom is $895. The median Enid resident is 35 years old with a yearly income of $26,941. The average family has 3.16 members and a median household income of $51,952. Enid has a 23% higher education rate. The unemployment rate in Enid is 4.9%.
39.1% of Enid households are renters.
24.9% median household income spent on rent.
Bedrooms |
Garfield County 1 |
Oklahoma 2 |
National 2 |
|---|---|---|---|
| Studio | $591 | $589 | $737 |
| 1 bedroom | $679 | $623 | $813 |
| 2 bedroom | $895 | $790 | $1,015 |
| 3 bedroom | $1,165 | $1,041 | $1,325 |
| 4 bedroom | $1,258 | $1,191 | $1,521 |
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