Derby is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Derby are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Derby are slightly higher than the national average. Derby 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 Derby.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Derby 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 Derby.
The city of Derby in Sedgwick County has a population of 24,943. The median rent in Sedgwick County for a 2 bedroom is $902. The median Derby resident is 36 years old with a yearly income of $39,955. The average family has 3.2 members and a median household income of $73,322. Derby has a 40% higher education rate. The unemployment rate in Derby is 3.4%.
29% of Derby households are renters.
21.8% median household income spent on rent.
Bedrooms |
Sedgwick County 1 |
Kansas 2 |
National 2 |
|---|---|---|---|
| Studio | $595 | $581 | $737 |
| 1 bedroom | $695 | $612 | $813 |
| 2 bedroom | $902 | $781 | $1,015 |
| 3 bedroom | $1,218 | $1,027 | $1,325 |
| 4 bedroom | $1,492 | $1,166 | $1,521 |
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