Lee's Summit is located in a good market for 5+ unit multifamily loans. Multifamily loans in Lee's Summit are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Lee's Summit are competitive. Lee's Summit 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 Lee's Summit.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lee's Summit 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 Lee's Summit.
The city of Lee's Summit in Jackson County has a population of 99,357. The median rent in Jackson County for a 2 bedroom is $1,095. The median Lee's Summit resident is 39 years old with a yearly income of $44,982. The average family has 3.09 members and a median household income of $89,969. Lee's Summit has a 48% higher education rate. The unemployment rate in Lee's Summit is 2.8%.
22.8% of Lee's Summit households are renters.
27.4% median household income spent on rent.
Bedrooms |
Jackson County 1 |
Missouri 2 |
National 2 |
|---|---|---|---|
| Studio | $784 | $535 | $737 |
| 1 bedroom | $919 | $594 | $813 |
| 2 bedroom | $1,095 | $761 | $1,015 |
| 3 bedroom | $1,463 | $1,010 | $1,325 |
| 4 bedroom | $1,665 | $1,155 | $1,521 |
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