Paducah is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Paducah are considered greater risk due to market dynamics. Interest rates for multifamily loans in Paducah are higher than the national average. Paducah 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 Paducah.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Paducah 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 Paducah.
The city of Paducah in McCracken County has a population of 24,865. The median rent in McCracken County for a 2 bedroom is $862. The median Paducah resident is 42 years old with a yearly income of $24,192. The average family has 2.94 members and a median household income of $39,266. Paducah has a 25% higher education rate. The unemployment rate in Paducah is 4.6%.
46.8% of Paducah households are renters.
32.4% median household income spent on rent.
Bedrooms |
McCracken County 1 |
Kentucky 2 |
National 2 |
|---|---|---|---|
| Studio | $618 | $548 | $737 |
| 1 bedroom | $654 | $605 | $813 |
| 2 bedroom | $862 | $763 | $1,015 |
| 3 bedroom | $1,072 | $1,011 | $1,325 |
| 4 bedroom | $1,169 | $1,144 | $1,521 |
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