Abilene is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Abilene are considered greater risk due to market dynamics. Interest rates for multifamily loans in Abilene are higher than the national average. Abilene 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 Abilene.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Abilene are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.91% - 7.65% |
| 7 Year Fixed | 6.77% - 7.28% |
| 10 Year Fixed | 6.69% - 7.09% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.33% - 6.57% |
| 7 Year Fixed | 6.04% - 6.28% |
| 10 Year Fixed | 5.93% - 6.17% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.57% - 7.08% |
| 10 Year Fixed | 6.49% - 6.89% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.25% |
| 7 Year Fixed | 6.07% - 6.22% |
| 10 Year Fixed | 5.99% - 6.14% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Abilene.
The city of Abilene in Taylor County has a population of 123,420. The median rent in Taylor County for a 2 bedroom is $1,028. The median Abilene resident is 32 years old with a yearly income of $25,671. The average family has 3.19 members and a median household income of $50,659. Abilene has a 23% higher education rate. The unemployment rate in Abilene is 3.6%.
46% of Abilene households are renters.
29.5% median household income spent on rent.
Bedrooms |
Taylor County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $761 | $669 | $737 |
| 1 bedroom | $789 | $738 | $813 |
| 2 bedroom | $1,028 | $912 | $1,015 |
| 3 bedroom | $1,383 | $1,210 | $1,325 |
| 4 bedroom | $1,764 | $1,407 | $1,521 |
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