Alamogordo is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Alamogordo are considered greater risk due to market dynamics. Interest rates for multifamily loans in Alamogordo are higher than the national average. Alamogordo 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 Alamogordo.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Alamogordo are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.28% - 5.52% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Alamogordo.
The city of Alamogordo in Otero County has a population of 31,980. The median rent in Otero County for a 2 bedroom is $820. The median Alamogordo resident is 36 years old with a yearly income of $23,917. The average family has 3.22 members and a median household income of $42,204. Alamogordo has a 20% higher education rate. The unemployment rate in Alamogordo is 6.4%.
42.8% of Alamogordo households are renters.
29.1% median household income spent on rent.
Bedrooms |
Otero County 1 |
New Mexico 2 |
National 2 |
|---|---|---|---|
| Studio | $651 | $682 | $737 |
| 1 bedroom | $719 | $728 | $813 |
| 2 bedroom | $820 | $898 | $1,015 |
| 3 bedroom | $1,174 | $1,212 | $1,325 |
| 4 bedroom | $1,420 | $1,440 | $1,521 |
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