Cedar Falls is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Cedar Falls are considered greater risk due to market dynamics. Interest rates for multifamily loans in Cedar Falls are higher than the national average. Cedar Falls 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 Cedar Falls.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cedar Falls 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 Cedar Falls.
The city of Cedar Falls in Black Hawk County has a population of 40,536. The median rent in Black Hawk County for a 2 bedroom is $890. The median Cedar Falls resident is 27 years old with a yearly income of $25,737. The average family has 3.05 members and a median household income of $61,420. Cedar Falls has a 47% higher education rate. The unemployment rate in Cedar Falls is 3.1%.
37% of Cedar Falls households are renters.
31.2% median household income spent on rent.
Bedrooms |
Black Hawk County 1 |
Iowa 2 |
National 2 |
|---|---|---|---|
| Studio | $628 | $558 | $737 |
| 1 bedroom | $711 | $613 | $813 |
| 2 bedroom | $890 | $785 | $1,015 |
| 3 bedroom | $1,179 | $1,038 | $1,325 |
| 4 bedroom | $1,499 | $1,151 | $1,521 |
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