Owensboro is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Owensboro are considered greater risk due to market dynamics. Interest rates for multifamily loans in Owensboro are higher than the national average. Owensboro 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 Owensboro.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Owensboro 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 Owensboro.
The city of Owensboro in Daviess County has a population of 60,131. The median rent in Daviess County for a 2 bedroom is $871. The median Owensboro resident is 38 years old with a yearly income of $25,380. The average family has 2.89 members and a median household income of $43,369. Owensboro has a 23% higher education rate. The unemployment rate in Owensboro is 5.4%.
43.1% of Owensboro households are renters.
30.2% median household income spent on rent.
Bedrooms |
Daviess County 1 |
Kentucky 2 |
National 2 |
|---|---|---|---|
| Studio | $635 | $548 | $737 |
| 1 bedroom | $661 | $605 | $813 |
| 2 bedroom | $871 | $763 | $1,015 |
| 3 bedroom | $1,141 | $1,011 | $1,325 |
| 4 bedroom | $1,181 | $1,144 | $1,521 |
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