Logan is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Logan are considered greater risk due to market dynamics. Interest rates for multifamily loans in Logan are higher than the national average. Logan 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 Logan.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Logan are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.18% |
| 7 Year Fixed | 6.09% - 6.24% |
| 10 Year Fixed | 6.09% - 6.24% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Logan.
The city of Logan in Cache County has a population of 51,542. The median rent in Cache County for a 2 bedroom is $825. The median Logan resident is 24 years old with a yearly income of $18,863. The average family has 3.24 members and a median household income of $41,833. Logan has a 37% higher education rate. The unemployment rate in Logan is 2.8%.
60.7% of Logan households are renters.
29.4% median household income spent on rent.
Bedrooms |
Cache County 1 |
Utah 2 |
National 2 |
|---|---|---|---|
| Studio | $544 | $659 | $737 |
| 1 bedroom | $652 | $743 | $813 |
| 2 bedroom | $825 | $922 | $1,015 |
| 3 bedroom | $1,181 | $1,250 | $1,325 |
| 4 bedroom | $1,428 | $1,497 | $1,521 |
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