Southington is located in a good market for 5+ unit multifamily loans. Multifamily loans in Southington are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Southington are competitive. Southington 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 Southington.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Southington are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.34% - 6.58% |
| 7 Year Fixed | 6.18% - 6.42% |
| 10 Year Fixed | 6.19% - 6.43% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Southington.
The city of Southington in Hartford County has a population of 43,781. The median rent in Hartford County for a 2 bedroom is $1,437. The median Southington resident is 45 years old with a yearly income of $46,567. The average family has 3.06 members and a median household income of $94,463. Southington has a 40% higher education rate. The unemployment rate in Southington is 3.4%.
16.7% of Southington households are renters.
31.6% median household income spent on rent.
Bedrooms |
Hartford County 1 |
Connecticut 2 |
National 2 |
|---|---|---|---|
| Studio | $948 | $974 | $737 |
| 1 bedroom | $1,164 | $1,155 | $813 |
| 2 bedroom | $1,437 | $1,442 | $1,015 |
| 3 bedroom | $1,787 | $1,820 | $1,325 |
| 4 bedroom | $2,089 | $2,144 | $1,521 |
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