877,993 (or 14.52%) of the 6,045,680 population of Maryland live in 5+ unit apartment properties. Maryland has approximately 460,249 multifamily units. Last year, 4,788 new apartment units were constructed in Maryland, representing a 1.05% growth in units. Multifamily units make up 19.89% of the total housing stock in Maryland.
Interest rates for multifamily loans in Maryland are very competitive. Maryland apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in Maryland.
SoftQuotes' lender rates for 5+ unit multifamily loans in Maryland are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.87% - 6.47% |
| 7 Year Fixed | 5.93% - 6.26% |
| 10 Year Fixed | 5.84% - 6.12% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.75% - 6.25% |
| 7 Year Fixed | 5.72% - 6.22% |
| 10 Year Fixed | 5.64% - 6.14% |
The state of Maryland has rent control.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $494 | $1,643 | $1,013 |
| 1 bedroom | $615 | $1,682 | $1,126 |
| 2 bedroom | $748 | $1,917 | $1,365 |
| 3 bedroom | $1,023 | $2,457 | $1,803 |
| 4 bedroom | $1,295 | $2,978 | $2,127 |