Prattville is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Prattville are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Prattville are slightly higher than the national average. Prattville 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 Prattville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Prattville 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 Prattville.
The city of Prattville in Autauga County has a population of 35,957. The median rent in Autauga County for a 2 bedroom is $972. The median Prattville resident is 37 years old with a yearly income of $31,225. The average family has 3.07 members and a median household income of $61,110. Prattville has a 32% higher education rate. The unemployment rate in Prattville is 4.4%.
37.1% of Prattville households are renters.
24.9% median household income spent on rent.
Bedrooms |
Autauga County 1 |
Alabama 2 |
National 2 |
|---|---|---|---|
| Studio | $685 | $580 | $737 |
| 1 bedroom | $820 | $626 | $813 |
| 2 bedroom | $972 | $767 | $1,015 |
| 3 bedroom | $1,229 | $1,004 | $1,325 |
| 4 bedroom | $1,628 | $1,157 | $1,521 |
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