Prairieville is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Prairieville are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Prairieville are slightly higher than the national average. Prairieville 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 Prairieville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Prairieville 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 Prairieville.
The city of Prairieville in Ascension Parish has a population of 31,974. The median rent in Ascension Parish for a 2 bedroom is $1,087. The median Prairieville resident is 35 years old with a yearly income of $47,854. The average family has 3.39 members and a median household income of $99,953. Prairieville has a 37% higher education rate. The unemployment rate in Prairieville is 5.2%.
12.9% of Prairieville households are renters.
31.7% median household income spent on rent.
Bedrooms |
Ascension Parish 1 |
Louisiana 2 |
National 2 |
|---|---|---|---|
| Studio | $852 | $665 | $737 |
| 1 bedroom | $918 | $729 | $813 |
| 2 bedroom | $1,087 | $888 | $1,015 |
| 3 bedroom | $1,385 | $1,160 | $1,325 |
| 4 bedroom | $1,698 | $1,326 | $1,521 |
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