Fair Oaks is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Fair Oaks are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Fair Oaks are some of the lowest nationally. Fair Oaks 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 Fair Oaks.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fair Oaks 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 | 6.73% - 6.97% |
| 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 | 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 Fair Oaks.
The city of Fair Oaks in Fairfax County has a population of 33,481. The median rent in Fairfax County for a 2 bedroom is $1,917. The median Fair Oaks resident is 35 years old with a yearly income of $60,219. The average family has 3.08 members and a median household income of $106,875. Fair Oaks has a 67% higher education rate. The unemployment rate in Fair Oaks is 2.6%.
54.6% of Fair Oaks households are renters.
27.4% median household income spent on rent.
Bedrooms |
Fairfax County 1 |
Virginia 2 |
National 2 |
|---|---|---|---|
| Studio | $1,643 | $833 | $737 |
| 1 bedroom | $1,682 | $897 | $813 |
| 2 bedroom | $1,917 | $1,072 | $1,015 |
| 3 bedroom | $2,457 | $1,423 | $1,325 |
| 4 bedroom | $2,978 | $1,680 | $1,521 |
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