Clarksville is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Clarksville are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Clarksville are slightly higher than the national average. Clarksville apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Clarksville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Clarksville 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 | 5.53% - 5.77% |
| 7 Year Fixed | 5.27% - 5.51% |
| 10 Year Fixed | 5.13% - 5.37% |
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 | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Clarksville.
The city of Clarksville in Montgomery County has a population of 158,146. The median rent in Montgomery County for a 2 bedroom is $929. The median Clarksville resident is 30 years old with a yearly income of $30,307. The average family has 3.18 members and a median household income of $53,604. Clarksville has a 28% higher education rate. The unemployment rate in Clarksville is 6.9%.
47% of Clarksville households are renters.
28.6% median household income spent on rent.
Bedrooms |
Montgomery County 1 |
Tennessee 2 |
National 2 |
|---|---|---|---|
| Studio | $614 | $618 | $737 |
| 1 bedroom | $734 | $657 | $813 |
| 2 bedroom | $929 | $813 | $1,015 |
| 3 bedroom | $1,330 | $1,073 | $1,325 |
| 4 bedroom | $1,608 | $1,248 | $1,521 |
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