Georgetown is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Georgetown are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Georgetown are slightly higher than the national average. Georgetown 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 Georgetown.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Georgetown 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 Georgetown.
The city of Georgetown in Scott County has a population of 34,992. The median rent in Scott County for a 2 bedroom is $978. The median Georgetown resident is 33 years old with a yearly income of $31,488. The average family has 2.93 members and a median household income of $65,812. Georgetown has a 28% higher education rate. The unemployment rate in Georgetown is 3.6%.
38.4% of Georgetown households are renters.
24.3% median household income spent on rent.
Bedrooms |
Scott County 1 |
Kentucky 2 |
National 2 |
|---|---|---|---|
| Studio | $677 | $548 | $737 |
| 1 bedroom | $783 | $605 | $813 |
| 2 bedroom | $978 | $763 | $1,015 |
| 3 bedroom | $1,349 | $1,011 | $1,325 |
| 4 bedroom | $1,645 | $1,144 | $1,521 |
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