Texas City is located in a good market for 5+ unit multifamily loans. Multifamily loans in Texas City are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Texas City are competitive. Texas City 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 Texas City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Texas City 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 | 5.28% - 5.52% |
| 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 Texas City.
The city of Texas City in Galveston County has a population of 50,094. The median rent in Galveston County for a 2 bedroom is $1,306. The median Texas City resident is 36 years old with a yearly income of $25,236. The average family has 3.27 members and a median household income of $48,839. Texas City has a 15% higher education rate. The unemployment rate in Texas City is 7.5%.
43.9% of Texas City households are renters.
31.4% median household income spent on rent.
Bedrooms |
Galveston County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $1,008 | $669 | $737 |
| 1 bedroom | $1,092 | $738 | $813 |
| 2 bedroom | $1,306 | $912 | $1,015 |
| 3 bedroom | $1,751 | $1,210 | $1,325 |
| 4 bedroom | $2,232 | $1,407 | $1,521 |
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