Huntsville is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Huntsville are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Huntsville are slightly higher than the national average. Huntsville 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 Huntsville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Huntsville 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 Huntsville.
The city of Huntsville in Madison County has a population of 200,574. The median rent in Madison County for a 2 bedroom is $883. The median Huntsville resident is 37 years old with a yearly income of $30,079. The average family has 2.88 members and a median household income of $55,305. Huntsville has a 44% higher education rate. The unemployment rate in Huntsville is 5.3%.
43.3% of Huntsville households are renters.
31.8% median household income spent on rent.
Bedrooms |
Madison County 1 |
Alabama 2 |
National 2 |
|---|---|---|---|
| Studio | $634 | $580 | $737 |
| 1 bedroom | $743 | $626 | $813 |
| 2 bedroom | $883 | $767 | $1,015 |
| 3 bedroom | $1,172 | $1,004 | $1,325 |
| 4 bedroom | $1,492 | $1,157 | $1,521 |
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