Anderson is located in a good market for 5+ unit multifamily loans. Multifamily loans in Anderson are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Anderson are competitive. Anderson 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 Anderson.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Anderson 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.49% - 5.73% |
| 7 Year Fixed | 5.25% - 5.49% |
| 10 Year Fixed | 5.19% - 5.43% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Anderson.
The city of Anderson in Madison County has a population of 54,765. The median rent in Madison County for a 2 bedroom is $853. The median Anderson resident is 38 years old with a yearly income of $21,844. The average family has 2.94 members and a median household income of $37,038. Anderson has a 16% higher education rate. The unemployment rate in Anderson is 7.8%.
43.1% of Anderson households are renters.
36.4% median household income spent on rent.
Bedrooms |
Madison County 1 |
Indiana 2 |
National 2 |
|---|---|---|---|
| Studio | $592 | $593 | $737 |
| 1 bedroom | $656 | $666 | $813 |
| 2 bedroom | $853 | $840 | $1,015 |
| 3 bedroom | $1,102 | $1,099 | $1,325 |
| 4 bedroom | $1,171 | $1,251 | $1,521 |
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