Knoxville is located in a good market for 5+ unit multifamily loans. Multifamily loans in Knoxville are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Knoxville are competitive. Knoxville 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 Knoxville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Knoxville 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 | 5.44% - 5.68% |
| 7 Year Fixed | 5.28% - 5.52% |
| 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 Knoxville.
The city of Knoxville in Knox County has a population of 187,603. The median rent in Knox County for a 2 bedroom is $961. The median Knoxville resident is 33 years old with a yearly income of $23,180. The average family has 2.95 members and a median household income of $40,341. Knoxville has a 32% higher education rate. The unemployment rate in Knoxville is 5.4%.
54.1% of Knoxville households are renters.
35.1% median household income spent on rent.
Bedrooms |
Knox County 1 |
Tennessee 2 |
National 2 |
|---|---|---|---|
| Studio | $669 | $618 | $737 |
| 1 bedroom | $782 | $657 | $813 |
| 2 bedroom | $961 | $813 | $1,015 |
| 3 bedroom | $1,267 | $1,073 | $1,325 |
| 4 bedroom | $1,524 | $1,248 | $1,521 |
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