Towson is located in a good market for 5+ unit multifamily loans. Multifamily loans in Towson are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Towson are competitive. Towson 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 Towson.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Towson 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 Towson.
The city of Towson in Baltimore County has a population of 57,817. The median rent in Baltimore County for a 2 bedroom is $1,505. The median Towson resident is 33 years old with a yearly income of $37,299. The average family has 3 members and a median household income of $88,786. Towson has a 65% higher education rate. The unemployment rate in Towson is 4.3%.
42.6% of Towson households are renters.
33% median household income spent on rent.
Bedrooms |
Baltimore County 1 |
Maryland 2 |
National 2 |
|---|---|---|---|
| Studio | $997 | $1,013 | $737 |
| 1 bedroom | $1,213 | $1,126 | $813 |
| 2 bedroom | $1,505 | $1,365 | $1,015 |
| 3 bedroom | $1,950 | $1,803 | $1,325 |
| 4 bedroom | $2,233 | $2,127 | $1,521 |
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