Peoria Apartment Loans
Find the apartment financing information you need and apply for apartment loans of your choosing in Peoria, Illinois
Peoria: In the Spotlight
Peoria, Illinois is located 73 miles from the state capital of Springfield and is part of the Peoria Metropolitan Statistical Area (MSA). The population of Peoria is just over 108,000, making it the 8th most populous city in the State. It also covers around 50 square miles of land. Peoria is the largest district in the state of Illinois, and is the city where the life saving discovery of penicillin was made through the purchase of a rotting orange.
- The unemployment rate is relatively high, around 6.4%.
- The median household income is $51,771.
- The median age in Peoria is 35 years old
- Peoria employs over 48,000 residents
- Peoria has a moderate vacancy of around 9.3% across all rental properties
- There has been a marginal rent decrease, to $732 per month
- The homeownership rate is roughly 55%, which leaves around 45% of residents looking for rental properties.
- Conventional apartment loans
- Fannie Mae apartment financing
- Freddie Mac apartment financing
- FHA/HUD financing
- Mezzanine financing
- CMBS loans
- Bridge loans
- Apartment construction loans
- And more!
Peoria Apartment Loan and Multifamily Property Facts
Peoria is part of the Illinois market, which has seen some growth after recovering from 2020. Although unemployment is still high and people are still uncertain, the multifamily market is starting to pick up steam. Vacancy rates and new deals are helping spur the market.
Although 2020 was a difficult time in Peoria, just as it was everywhere, the city is on the rebound and the market is looking good. With new developments and promising sales on the record, now is a good time to consider an apartment loan in the city.
Peoria Apartment Loan and Lending Options
In Peoria, Illinois there are several different ways that you can finance your new apartment investment. We work with opportunities like:
Finance Your Peoria Apartment Building Now
At Apartment.loans, we can help with all kinds of loans for apartments and commercial real estate in the city of Peoria, Il. We work with value-add opportunities, ground-up developments, stabilized properties, and more. We know what it takes to get financed and find the best rates and we can help you get what you need.
The market in Peoria is growing by the day and we can help you find the financing that you need before the competition gets too fierce. Whether you are financing your first deal or just looking for your next one, we’ve got you covered.
When you’re ready to talk more or get started on your investment, contact our Peoria Apartment Lending Specialists today at hello@apartment.loans or by calling (800) 567-9631.