Alexandria is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Alexandria are considered greater risk due to market dynamics. Interest rates for multifamily loans in Alexandria are higher than the national average. Alexandria 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 Alexandria.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Alexandria 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 | 5.58% - 5.82% |
| 7 Year Fixed | 5.37% - 5.61% |
| 10 Year Fixed | 5.23% - 5.47% |
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 Alexandria.
The city of Alexandria in Rapides Parish has a population of 46,180. The median rent in Rapides Parish for a 2 bedroom is $862. The median Alexandria resident is 39 years old with a yearly income of $22,383. The average family has 3.2 members and a median household income of $43,497. Alexandria has a 24% higher education rate. The unemployment rate in Alexandria is 9.0%.
49% of Alexandria households are renters.
35.2% median household income spent on rent.
Bedrooms |
Rapides Parish 1 |
Louisiana 2 |
National 2 |
|---|---|---|---|
| Studio | $569 | $665 | $737 |
| 1 bedroom | $684 | $729 | $813 |
| 2 bedroom | $862 | $888 | $1,015 |
| 3 bedroom | $1,142 | $1,160 | $1,325 |
| 4 bedroom | $1,261 | $1,326 | $1,521 |
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