Carbondale is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Carbondale are considered greater risk due to market dynamics. Interest rates for multifamily loans in Carbondale are higher than the national average. Carbondale 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 Carbondale.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Carbondale 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 | 5.23% - 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 Carbondale.
The city of Carbondale in Jackson County has a population of 25,083. The median rent in Jackson County for a 2 bedroom is $805. The median Carbondale resident is 24 years old with a yearly income of $14,322. The average family has 3.05 members and a median household income of $22,152. Carbondale has a 45% higher education rate. The unemployment rate in Carbondale is 10.0%.
71.1% of Carbondale households are renters.
55.8% median household income spent on rent.
Bedrooms |
Jackson County 1 |
Illinois 2 |
National 2 |
|---|---|---|---|
| Studio | $531 | $599 | $737 |
| 1 bedroom | $616 | $669 | $813 |
| 2 bedroom | $805 | $840 | $1,015 |
| 3 bedroom | $1,049 | $1,100 | $1,325 |
| 4 bedroom | $1,161 | $1,238 | $1,521 |
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