Sidney is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Sidney are considered greater risk due to market dynamics. Interest rates for multifamily loans in Sidney are higher than the national average. Sidney 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 Sidney.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Sidney 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 Sidney.
The city of Sidney in Shelby County has a population of 20,449. The median rent in Shelby County for a 2 bedroom is $777. The median Sidney resident is 37 years old with a yearly income of $27,087. The average family has 2.99 members and a median household income of $53,505. Sidney has a 20% higher education rate. The unemployment rate in Sidney is 6.1%.
41.9% of Sidney households are renters.
20.9% median household income spent on rent.
Bedrooms |
Shelby County 1 |
Ohio 2 |
National 2 |
|---|---|---|---|
| Studio | $580 | $597 | $737 |
| 1 bedroom | $648 | $662 | $813 |
| 2 bedroom | $777 | $834 | $1,015 |
| 3 bedroom | $1,055 | $1,084 | $1,325 |
| 4 bedroom | $1,136 | $1,205 | $1,521 |
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