Quincy is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Quincy are considered greater risk due to market dynamics. Interest rates for multifamily loans in Quincy are higher than the national average. Quincy 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 Quincy.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Quincy 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 $6M |
|---|---|
| 5 Year Fixed | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 10 Year Fixed | 6.83% - 7.07% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Quincy.
The city of Quincy in Adams County has a population of 39,949. The median rent in Adams County for a 2 bedroom is $839. The median Quincy resident is 41 years old with a yearly income of $28,756. The average family has 2.92 members and a median household income of $46,189. Quincy has a 24% higher education rate. The unemployment rate in Quincy is 5.3%.
35.7% of Quincy households are renters.
29.7% median household income spent on rent.
Bedrooms |
Adams County 1 |
Illinois 2 |
National 2 |
|---|---|---|---|
| Studio | $606 | $599 | $737 |
| 1 bedroom | $654 | $669 | $813 |
| 2 bedroom | $839 | $840 | $1,015 |
| 3 bedroom | $1,113 | $1,100 | $1,325 |
| 4 bedroom | $1,159 | $1,238 | $1,521 |
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