Pittsburg is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Pittsburg are considered greater risk due to market dynamics. Interest rates for multifamily loans in Pittsburg are higher than the national average. Pittsburg 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 Pittsburg.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pittsburg 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 Pittsburg.
The city of Pittsburg in Crawford County has a population of 20,050. The median rent in Crawford County for a 2 bedroom is $778. The median Pittsburg resident is 26 years old with a yearly income of $18,326. The average family has 3.09 members and a median household income of $34,956. Pittsburg has a 31% higher education rate. The unemployment rate in Pittsburg is 5.7%.
58.5% of Pittsburg households are renters.
39.1% median household income spent on rent.
Bedrooms |
Crawford County 1 |
Kansas 2 |
National 2 |
|---|---|---|---|
| Studio | $586 | $581 | $737 |
| 1 bedroom | $590 | $612 | $813 |
| 2 bedroom | $778 | $781 | $1,015 |
| 3 bedroom | $1,099 | $1,027 | $1,325 |
| 4 bedroom | $1,101 | $1,166 | $1,521 |
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