Statesboro is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Statesboro are considered greater risk due to market dynamics. Interest rates for multifamily loans in Statesboro are higher than the national average. Statesboro 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 Statesboro.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Statesboro 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 | 5.58% - 5.82% |
| 7 Year Fixed | 5.37% - 5.61% |
| 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 Statesboro.
The city of Statesboro in Bulloch County has a population of 32,954. The median rent in Bulloch County for a 2 bedroom is $778. The median Statesboro resident is 22 years old with a yearly income of $12,211. The average family has 2.93 members and a median household income of $29,203. Statesboro has a 26% higher education rate. The unemployment rate in Statesboro is 12.3%.
74.1% of Statesboro households are renters.
36.9% median household income spent on rent.
Bedrooms |
Bulloch County 1 |
Georgia 2 |
National 2 |
|---|---|---|---|
| Studio | $650 | $670 | $737 |
| 1 bedroom | $656 | $698 | $813 |
| 2 bedroom | $778 | $840 | $1,015 |
| 3 bedroom | $1,113 | $1,103 | $1,325 |
| 4 bedroom | $1,347 | $1,302 | $1,521 |
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