La Porte is located in a good market for 5+ unit multifamily loans. Multifamily loans in La Porte are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in La Porte are competitive. La Porte 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 La Porte.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in La Porte 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 | 5.28% - 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 La Porte.
The city of La Porte in Harris County has a population of 34,976. The median rent in Harris County for a 2 bedroom is $1,306. The median La Porte resident is 38 years old with a yearly income of $34,585. The average family has 3.27 members and a median household income of $75,262. La Porte has a 16% higher education rate. The unemployment rate in La Porte is 6.6%.
25.1% of La Porte households are renters.
28.4% median household income spent on rent.
Bedrooms |
Harris County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $1,008 | $669 | $737 |
| 1 bedroom | $1,092 | $738 | $813 |
| 2 bedroom | $1,306 | $912 | $1,015 |
| 3 bedroom | $1,751 | $1,210 | $1,325 |
| 4 bedroom | $2,232 | $1,407 | $1,521 |
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