Montgomery is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Montgomery are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Montgomery are slightly higher than the national average. Montgomery 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 Montgomery.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Montgomery 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 Montgomery.
The city of Montgomery in Montgomery County has a population of 198,525. The median rent in Montgomery County for a 2 bedroom is $972. The median Montgomery resident is 36 years old with a yearly income of $25,725. The average family has 3.18 members and a median household income of $48,011. Montgomery has a 33% higher education rate. The unemployment rate in Montgomery is 6.8%.
44.9% of Montgomery households are renters.
33.7% median household income spent on rent.
Bedrooms |
Montgomery County 1 |
Alabama 2 |
National 2 |
|---|---|---|---|
| Studio | $685 | $580 | $737 |
| 1 bedroom | $820 | $626 | $813 |
| 2 bedroom | $972 | $767 | $1,015 |
| 3 bedroom | $1,229 | $1,004 | $1,325 |
| 4 bedroom | $1,628 | $1,157 | $1,521 |
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