Midvale is located in a good market for 5+ unit multifamily loans. Multifamily loans in Midvale are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Midvale are competitive. Midvale 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 Midvale.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Midvale 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 $7.5M |
|---|---|
| 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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.93% - 6.08% |
| 7 Year Fixed | 5.99% - 6.14% |
| 10 Year Fixed | 5.99% - 6.14% |
All major multifamily lender types are lending in Midvale.
The city of Midvale in Salt Lake County has a population of 34,124. The median rent in Salt Lake County for a 2 bedroom is $1,291. The median Midvale resident is 31 years old with a yearly income of $32,857. The average family has 3.32 members and a median household income of $60,216. Midvale has a 33% higher education rate. The unemployment rate in Midvale is 4.2%.
55.8% of Midvale households are renters.
28.1% median household income spent on rent.
Bedrooms |
Salt Lake County 1 |
Utah 2 |
National 2 |
|---|---|---|---|
| Studio | $889 | $659 | $737 |
| 1 bedroom | $1,073 | $743 | $813 |
| 2 bedroom | $1,291 | $922 | $1,015 |
| 3 bedroom | $1,812 | $1,250 | $1,325 |
| 4 bedroom | $2,029 | $1,497 | $1,521 |
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