Bayou Cane is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Bayou Cane are considered greater risk due to market dynamics. Interest rates for multifamily loans in Bayou Cane are higher than the national average. Bayou Cane 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 Bayou Cane.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bayou Cane are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.58% - 6.82% |
| 7 Year Fixed | 6.42% - 6.66% |
| 10 Year Fixed | 6.38% - 6.62% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.89% - 5.99% |
| 7 Year Fixed | 5.94% - 6.04% |
| 10 Year Fixed | 5.92% - 6.02% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Bayou Cane.
The city of Bayou Cane in Terrebonne Parish has a population of 20,093. The median rent in Terrebonne Parish for a 2 bedroom is $961. The median Bayou Cane resident is 34 years old with a yearly income of $27,154. The average family has 3.27 members and a median household income of $53,668. Bayou Cane has a 17% higher education rate. The unemployment rate in Bayou Cane is 4.2%.
40.6% of Bayou Cane households are renters.
27% median household income spent on rent.
Bedrooms |
Terrebonne Parish 1 |
Louisiana 2 |
National 2 |
|---|---|---|---|
| Studio | $712 | $665 | $737 |
| 1 bedroom | $755 | $729 | $813 |
| 2 bedroom | $961 | $888 | $1,015 |
| 3 bedroom | $1,299 | $1,160 | $1,325 |
| 4 bedroom | $1,501 | $1,326 | $1,521 |
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