Pascagoula is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Pascagoula are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Pascagoula are slightly higher than the national average. Pascagoula 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 Pascagoula.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pascagoula 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 Pascagoula.
The city of Pascagoula in Jackson County has a population of 21,699. The median rent in Jackson County for a 2 bedroom is $857. The median Pascagoula resident is 37 years old with a yearly income of $24,412. The average family has 3.41 members and a median household income of $39,887. Pascagoula has a 17% higher education rate. The unemployment rate in Pascagoula is 11.7%.
45.4% of Pascagoula households are renters.
34.7% median household income spent on rent.
Bedrooms |
Jackson County 1 |
Mississippi 2 |
National 2 |
|---|---|---|---|
| Studio | $630 | $573 | $737 |
| 1 bedroom | $746 | $612 | $813 |
| 2 bedroom | $857 | $754 | $1,015 |
| 3 bedroom | $1,208 | $975 | $1,325 |
| 4 bedroom | $1,484 | $1,111 | $1,521 |
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