St. Louis is located in a good market for 5+ unit multifamily loans. Multifamily loans in St. Louis are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in St. Louis are competitive. St. Louis apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in St. Louis.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in St. Louis 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.49% - 5.73% |
| 7 Year Fixed | 5.25% - 5.49% |
| 10 Year Fixed | 5.19% - 5.43% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in St. Louis.
The city of St. Louis in St. Louis County has a population of 300,576. The median rent in St. Louis County for a 2 bedroom is $1,005. The median St. Louis resident is 36 years old with a yearly income of $28,186. The average family has 3.07 members and a median household income of $43,896. St. Louis has a 36% higher education rate. The unemployment rate in St. Louis is 7.0%.
56.3% of St. Louis households are renters.
32.2% median household income spent on rent.
Bedrooms |
St. Louis County 1 |
Missouri 2 |
National 2 |
|---|---|---|---|
| Studio | $719 | $535 | $737 |
| 1 bedroom | $783 | $594 | $813 |
| 2 bedroom | $1,005 | $761 | $1,015 |
| 3 bedroom | $1,311 | $1,010 | $1,325 |
| 4 bedroom | $1,543 | $1,155 | $1,521 |
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