Davenport is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Davenport are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Davenport are slightly higher than the national average. Davenport 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 Davenport.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Davenport 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 | 5.29% - 5.53% |
| 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 Davenport.
The city of Davenport in Scott County has a population of 101,590. The median rent in Scott County for a 2 bedroom is $832. The median Davenport resident is 37 years old with a yearly income of $29,572. The average family has 3.24 members and a median household income of $51,029. Davenport has a 26% higher education rate. The unemployment rate in Davenport is 4.5%.
37.8% of Davenport households are renters.
30.5% median household income spent on rent.
Bedrooms |
Scott County 1 |
Iowa 2 |
National 2 |
|---|---|---|---|
| Studio | $549 | $558 | $737 |
| 1 bedroom | $665 | $613 | $813 |
| 2 bedroom | $832 | $785 | $1,015 |
| 3 bedroom | $1,111 | $1,038 | $1,325 |
| 4 bedroom | $1,255 | $1,151 | $1,521 |
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