Midwest City is located in a good market for 5+ unit multifamily loans. Multifamily loans in Midwest City are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Midwest City are competitive. Midwest City 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 Midwest City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Midwest City 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 Midwest City.
The city of Midwest City in Oklahoma County has a population of 57,407. The median rent in Oklahoma County for a 2 bedroom is $977. The median Midwest City resident is 36 years old with a yearly income of $28,188. The average family has 3.19 members and a median household income of $49,914. Midwest City has a 22% higher education rate. The unemployment rate in Midwest City is 5.5%.
43.4% of Midwest City households are renters.
27.3% median household income spent on rent.
Bedrooms |
Oklahoma County 1 |
Oklahoma 2 |
National 2 |
|---|---|---|---|
| Studio | $750 | $589 | $737 |
| 1 bedroom | $785 | $623 | $813 |
| 2 bedroom | $977 | $790 | $1,015 |
| 3 bedroom | $1,317 | $1,041 | $1,325 |
| 4 bedroom | $1,583 | $1,191 | $1,521 |
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