Tucson is located in a good market for 5+ unit multifamily loans. Multifamily loans in Tucson are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Tucson are competitive. Tucson 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 Tucson.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Tucson 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 | 5.18% - 5.42% |
| 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 Tucson.
The city of Tucson in Pima County has a population of 548,073. The median rent in Pima County for a 2 bedroom is $1,016. The median Tucson resident is 34 years old with a yearly income of $24,102. The average family has 3.19 members and a median household income of $43,425. Tucson has a 27% higher education rate. The unemployment rate in Tucson is 7.8%.
49.4% of Tucson households are renters.
32.9% median household income spent on rent.
Bedrooms |
Pima County 1 |
Arizona 2 |
National 2 |
|---|---|---|---|
| Studio | $670 | $747 | $737 |
| 1 bedroom | $771 | $822 | $813 |
| 2 bedroom | $1,016 | $1,038 | $1,015 |
| 3 bedroom | $1,454 | $1,433 | $1,325 |
| 4 bedroom | $1,724 | $1,597 | $1,521 |
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