Salisbury is located in a good market for 5+ unit multifamily loans. Multifamily loans in Salisbury are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Salisbury are competitive. Salisbury 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 Salisbury.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Salisbury 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Salisbury.
The city of Salisbury in Rowan County has a population of 33,988. The median rent in Rowan County for a 2 bedroom is $943. The median Salisbury resident is 38 years old with a yearly income of $23,414. The average family has 3.13 members and a median household income of $41,901. Salisbury has a 22% higher education rate. The unemployment rate in Salisbury is 9.6%.
50.3% of Salisbury households are renters.
30.2% median household income spent on rent.
Bedrooms |
Rowan County 1 |
North Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $757 | $694 | $737 |
| 1 bedroom | $766 | $713 | $813 |
| 2 bedroom | $943 | $871 | $1,015 |
| 3 bedroom | $1,225 | $1,152 | $1,325 |
| 4 bedroom | $1,279 | $1,386 | $1,521 |
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