East St. Louis is located in a good market for 5+ unit multifamily loans. Multifamily loans in East St. Louis are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in East St. Louis are competitive. East St. Louis apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in East St. Louis.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in East St. Louis 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.49% - 5.73% |
| 7 Year Fixed | 5.25% - 5.49% |
| 10 Year Fixed | 5.19% - 5.43% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in East St. Louis.
The city of East St. Louis in St. Clair County has a population of 26,047. The median rent in St. Clair County for a 2 bedroom is $1,005. The median East St. Louis resident is 37 years old with a yearly income of $16,867. The average family has 3.66 members and a median household income of $24,343. East St. Louis has a 12% higher education rate. The unemployment rate in East St. Louis is 18.3%.
52.9% of East St. Louis households are renters.
38.6% median household income spent on rent.
Bedrooms |
St. Clair County 1 |
Illinois 2 |
National 2 |
|---|---|---|---|
| Studio | $719 | $599 | $737 |
| 1 bedroom | $783 | $669 | $813 |
| 2 bedroom | $1,005 | $840 | $1,015 |
| 3 bedroom | $1,311 | $1,100 | $1,325 |
| 4 bedroom | $1,543 | $1,238 | $1,521 |
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