Muscatine is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Muscatine are considered greater risk due to market dynamics. Interest rates for multifamily loans in Muscatine are higher than the national average. Muscatine apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Muscatine.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Muscatine 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 | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.23% - 5.47% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Muscatine.
The city of Muscatine in Muscatine County has a population of 23,631. The median rent in Muscatine County for a 2 bedroom is $964. The median Muscatine resident is 36 years old with a yearly income of $29,072. The average family has 3.05 members and a median household income of $52,660. Muscatine has a 20% higher education rate. The unemployment rate in Muscatine is 3.8%.
34% of Muscatine households are renters.
28.1% median household income spent on rent.
Bedrooms |
Muscatine County 1 |
Iowa 2 |
National 2 |
|---|---|---|---|
| Studio | $636 | $558 | $737 |
| 1 bedroom | $731 | $613 | $813 |
| 2 bedroom | $964 | $785 | $1,015 |
| 3 bedroom | $1,212 | $1,038 | $1,325 |
| 4 bedroom | $1,467 | $1,151 | $1,521 |
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