South Riding is located in a good market for 5+ unit multifamily loans. Multifamily loans in South Riding are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in South Riding are competitive. South Riding 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 South Riding.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in South Riding 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 South Riding.
The city of South Riding in Loudoun County has a population of 31,515. The median rent in Loudoun County for a 2 bedroom is $1,917. The median South Riding resident is 36 years old with a yearly income of $76,668. The average family has 3.43 members and a median household income of $158,996. South Riding has a 70% higher education rate. The unemployment rate in South Riding is 3.8%.
15.2% of South Riding households are renters.
28.5% median household income spent on rent.
Bedrooms |
Loudoun County 1 |
Virginia 2 |
National 2 |
|---|---|---|---|
| Studio | $1,643 | $833 | $737 |
| 1 bedroom | $1,682 | $897 | $813 |
| 2 bedroom | $1,917 | $1,072 | $1,015 |
| 3 bedroom | $2,457 | $1,423 | $1,325 |
| 4 bedroom | $2,978 | $1,680 | $1,521 |
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